402 Arts Collective

Analysis

402 Arts Collective is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in July 2012, 14 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, 402 Arts Collective reported income of $908k and spending of $869k, spending 96% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $440k to $908k (+106%), an average of +16% a year. The sharpest change came in the year to June 2022, when income rose by 35%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, 402 Arts Collective sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within NE. Charities of a similar size with the same main cause include Western Forest Industries Museum ($908k), Sail Maine Inc ($908k) and Rennie Harris Pure Movement ($908k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 34% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $98k (11% of expenses). Other salaries and wages came to $110k. At year end it held assets of $50k against liabilities of $6,325, net assets of $43k. It reported 4 employees.