Ispace Inc

Analysis

Ispace Inc is a registered charity in United States, based in Cincinnati, OH. It received its IRS tax-exemption ruling in June 2001, 25 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 August 2023, Ispace Inc reported income of $686k and spending of $608k, spending 89% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $724k to $686k (-5.2%), an average of -1.3% a year. The sharpest change came in the year to August 2020, when income dropped by 31%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ispace Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within OH. Charities of a similar size with the same main cause include American Academy of Political and Social Science ($686k), East Central Regional Arts Council ($686k) and Velocity Dance Center ($686k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 45% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $119k (20% of expenses). Other salaries and wages came to $212k. At year end it held assets of $1.4m against liabilities of $822k, net assets of $607k. It reported 51 employees.