Oarc Inc

Analysis

Oarc Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in July 2009, 17 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Oarc Inc reported income of $936k and spending of $1.1m, spending 119% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $733k to $936k (+28%), an average of +6.3% a year. The sharpest change came in the year to December 2020, when income rose by 38%. 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, Oarc Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within IN. Charities of a similar size with the same main cause include Nhscot ($936k), Gold Coast Jazz Society Inc ($936k) and Pianosforeducationorg Inc ($936k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $153k (14% of expenses). At year end it held assets of $749k against liabilities of $456k, net assets of $293k.