1001 Colors

Analysis

1001 Colors is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in November 1999, 27 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, 1001 Colors reported income of $5.7m and spending of $3.7m, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.6m to $5.7m (+120%), an average of +22% a year. The sharpest change came in the year to December 2023, when income rose by 48%. 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, 1001 Colors sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within OH. Charities of a similar size with the same main cause include The Durham Museum ($5.7m), Nido & Mariana Qubein Childrens Museum ($5.7m) and Strawbery Banke Museum ($5.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 7.3% of the total. Compensation of current officers, directors and key employees was $167k (4.6% of expenses). Other salaries and wages came to $1.0m. It paid $164k in professional fundraising fees. At year end it held assets of $7.3m against liabilities of $2.3m, net assets of $4.9m. It reported 216 employees.