Open Source Media Inc

Analysis

Open Source Media Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in August 2006, 20 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, Open Source Media Inc reported income of $163k and spending of $271k, spending 166% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $326k to $163k (-50%), an average of -16% a year. The sharpest change came in the year to December 2023, when income dropped by 53%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Open Source Media Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 54th percentile within MA. Charities of a similar size with the same main cause include Nevada Dance Company ($163k), Forst Inn Arts Collective Inc ($163k) and Burke Civic Ballet Inc ($163k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $205k (76% of expenses). Other salaries and wages came to $14k. At year end it held assets of $110k against liabilities of $20k, net assets of $90k. It reported 3 employees.