Artspace Inc

Analysis

Artspace Inc is a registered charity in United States, based in Maynard, MA. It received its IRS tax-exemption ruling in August 1989, 37 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Artspace Inc reported income of $347k and spending of $226k, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $331k to $347k (+4.8%), an average of +1.2% a year. The sharpest change came in the year to December 2022, when income rose by 50%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Artspace Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 66th percentile within MA. Charities of a similar size with the same main cause include Tulsa Ballet Theatre Trust Fund ($347k), Storyknife Writers Retreat ($347k) and Carroll Show Choir Boosters Inc ($347k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 34% of the total. Other salaries and wages came to $70k. At year end it held assets of $120k against liabilities of $45k, net assets of $75k. It reported 3 employees.