Colab Arts Inc

Analysis

Colab Arts Inc is a registered charity in United States, based in New Brunswick, NJ. It received its IRS tax-exemption ruling in November 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 June 2024, Colab Arts Inc reported income of $832k and spending of $524k, leaving 37% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $247k to $832k (+238%), an average of +36% a year. The sharpest change came in the year to June 2024, when income rose by 55%. Over the whole period it spent 75% 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 Arts Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 80th percentile within NJ. Charities of a similar size with the same main cause include The Art Garage ($832k), Muslim American Society of Greater LA ($833k) and Fayette County Cultural Trust ($832k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 75% and program service revenue 25% of the total. Other salaries and wages came to $316k. At year end it held assets of $639k against liabilities of $6,604, net assets of $632k. It reported 23 employees.