Odeum Corporation

Analysis

Odeum Corporation is a registered charity in United States, based in E Greenwich, RI. It received its IRS tax-exemption ruling in December 1991, 35 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, Odeum Corporation reported income of $1.5m and spending of $1.6m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.5m (+25%), an average of +5.7% a year. The sharpest change came in the year to December 2021, when income rose by 67%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Odeum Corporation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 79th percentile within RI. Charities of a similar size with the same main cause include Liu Shiming Art Foundation ($1.5m), Mainframe Studios ($1.5m) and LCC International Fund Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.1% and program service revenue 90% of the total. Other salaries and wages came to $206k. At year end it held assets of $2.7m against liabilities of $802k, net assets of $1.9m. It reported 13 employees.