Undercurrent Inc

Analysis

Undercurrent Inc is a registered charity in United States, based in San Rafael, CA. It received its IRS tax-exemption ruling in May 2005, 21 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 September 2023, Undercurrent Inc reported income of $454k and spending of $1.4m, spending 309% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $3.4m to $454k (-87%), an average of -40% a year. The sharpest change came in the year to September 2021, when income rose by 315%. Over the whole period it spent 139% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Undercurrent Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 70th percentile within CA. Charities of a similar size with the same main cause include Shine Arts Foundation ($454k), New Bedford Festival Theatre Inc ($454k) and Seenfire Foundation ($454k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 50% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $88k (6.3% of expenses). At year end it held assets of $271k against liabilities of $23k, net assets of $248k. It reported 1 employees.