Garage Cultural Inc

Analysis

Garage Cultural Inc is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in May 2018, 8 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, Garage Cultural Inc reported income of $751k and spending of $159k, leaving 79% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $314k to $751k (+139%), an average of +34% a year. The sharpest change came in the year to December 2022, when income rose by 119%. Over the whole period it spent 30% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Garage Cultural Inc sits at the 83rd 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 76th percentile within MI. Charities of a similar size with the same main cause include Mono No Aware Inc ($751k), Chester Theatre Company Inc ($751k) and Momentum-Excellence Inc ($751k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.8% of the total. Compensation of current officers, directors and key employees was $24k (15% of expenses). At year end it held assets of $1.2m against liabilities of $4,001, net assets of $1.2m.