Project for Empty Space Inc

Analysis

Project for Empty Space Inc is a registered charity in United States, based in Newark, NJ. It received its IRS tax-exemption ruling in June 2015, 11 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, Project for Empty Space Inc reported income of $4.4m and spending of $1.8m, leaving 60% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $414k to $4.4m (+968%), an average of +120% a year. The sharpest change came in the year to December 2023, when income rose by 348%. Over the whole period it spent 67% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Project for Empty Space Inc 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 91st percentile, and in the 93rd percentile within NJ. Charities of a similar size with the same main cause include Balboa Park Cultural Partnership ($4.4m), Give to Research ($4.4m) and Friends of South Dakota Public Broadcasting ($4.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 4.7% of the total. Other salaries and wages came to $421k. At year end it held assets of $2.5m against liabilities of $481k, net assets of $2.0m. It reported 5 employees.