Shopspace Inc

Analysis

Shopspace Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in August 2017, 9 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, Shopspace Inc reported income of $303k and spending of $297k, spending 98% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $229k to $303k (+33%), an average of +15% a year. The sharpest change came in the year to December 2022, when income rose by 26%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Shopspace Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 60th percentile within NC. Charities of a similar size with the same main cause include Golden Age Air Museum ($303k), Shreveport Scottish Rite Foundation Inc ($303k) and Gammelgarden Museum of Scandia ($303k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 77% of the total. Other salaries and wages came to $125k. At year end it held assets of $314k against liabilities of $43k, net assets of $271k. It reported 2 employees.