Otakorp Inc

Analysis

Otakorp Inc is a registered charity in United States, based in Hanover, MD. It received its IRS tax-exemption ruling in October 1997, 29 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Otakorp Inc reported income of $3.8m and spending of $3.4m, spending 91% of its income. Across the 6 years on record, from October 2019 to December 2023, income grew from $2.6m to $3.8m (+48%), an average of +8.1% a year. The sharpest change came in the year to December 2023, when income rose by 1669%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Otakorp Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MD. Charities of a similar size with the same main cause include Center for Fathers and Families ($3.8m), United States Eventing Association ($3.8m) and Community School of the Arts ($3.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.2% and program service revenue 100% of the total. At year end it held assets of $3.3m against liabilities of $72k, net assets of $3.2m.