Grandworks Foundation

Analysis

Grandworks Foundation is a registered charity in United States, based in Urbana, OH. It received its IRS tax-exemption ruling in May 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, Grandworks Foundation reported income of $1.1m and spending of $560k, leaving 49% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $282k to $1.1m (+293%), an average of +41% a year. The sharpest change came in the year to December 2021, when income rose by 273%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grandworks Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within OH. Charities of a similar size with the same main cause include Peninsula Ballet Theatre ($1.1m), Seven Angels Theatre Inc ($1.1m) and Minnesota Dance Theatre & the Dance Institute ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $77k (14% of expenses). Other salaries and wages came to $112k. At year end it held assets of $1.5m against liabilities of $266k, net assets of $1.2m. It reported 7 employees.