Colab

Analysis

Colab is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in August 2009, 17 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 2022, Colab reported income of $775k and spending of $801k, spending 103% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $974k to $775k (-20%), an average of -7.3% a year. The sharpest change came in the year to December 2021, when income dropped by 33%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Colab sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within TN. Charities of a similar size with the same main cause include Radio Arts Foundation ($775k), Open Environmental Data Inc ($775k) and Montclair Local Nonprofit News Inc ($775k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $164k (20% of expenses). Other salaries and wages came to $298k. At year end it held assets of $581k against liabilities of $25k, net assets of $556k. It reported 11 employees.