Vertuelab

Analysis

Vertuelab is a registered charity in United States, based in Portland, OR. It received its IRS tax-exemption ruling in October 2008, 18 years ago. Its declared purposes cover science and technology, 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 June 2023, Vertuelab reported income of $2.2m and spending of $3.1m, spending 138% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.7m to $2.2m (+29%), an average of +6.6% a year. The sharpest change came in the year to June 2020, when income rose by 38%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Vertuelab sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within OR. Charities of a similar size with the same main cause include Skowhegan School of Painting and Sculpture Inc ($2.2m), Detroit Public Theatre ($2.2m) and Florida Railroad Museum Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 97% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $252k (8.2% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $7.1m against liabilities of $3.9m, net assets of $3.3m. It reported 21 employees.