Open Book

Analysis

Open Book is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in January 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, Open Book reported income of $737k and spending of $1.1m, spending 146% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $480k to $737k (+54%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 64%. Over the whole period it spent 149% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Open Book sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 75th percentile within MN. Charities of a similar size with the same main cause include Opus Ithaca School of Music Inc ($737k), Lincoln Media Foundation Inc ($738k) and Society for Military History ($737k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 72% of the total. Other salaries and wages came to $131k. At year end it held assets of $3.5m against liabilities of $106k, net assets of $3.4m. It reported 9 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.