Opus 40 Inc

Analysis

Opus 40 Inc is a registered charity in United States, based in Saugerties, NY. It received its IRS tax-exemption ruling in November 1978, 48 years ago. 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, Opus 40 Inc reported income of $1.3m and spending of $1.1m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $299k to $1.3m (+347%), an average of +45% a year. The sharpest change came in the year to December 2021, when income rose by 130%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Opus 40 Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within NY. Charities of a similar size with the same main cause include New Age Study of Humanitys Purpose ($1.3m), Colorado Grand Inc 3998 S Mariposa ($1.3m) and Rotacare Bay Area Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $51k (4.7% of expenses). Other salaries and wages came to $213k. At year end it held assets of $1.8m against liabilities of $583k, net assets of $1.2m. It reported 24 employees.