Groundworks Art Lab Inc

Analysis

Groundworks Art Lab Inc is a registered charity in United States, based in Boulder, CO. It received its IRS tax-exemption ruling in July 2010, 16 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, Groundworks Art Lab Inc reported income of $2.7m and spending of $1.2m, leaving 56% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $761k to $2.7m (+261%), an average of +38% a year. The sharpest change came in the year to December 2021, when income rose by 182%. Over the whole period it spent 43% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Groundworks Art Lab Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within CO. Charities of a similar size with the same main cause include Vermont Journalism Trust ($2.7m), Boston Center for the Arts Inc ($2.8m) and Friends of the Lyric Inc ($2.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $155k (13% of expenses). Other salaries and wages came to $568k. At year end it held assets of $9.4m against liabilities of $2.3m, net assets of $7.1m. It reported 48 employees.