Open Style Lab Inc

Analysis

Open Style Lab Inc is a registered charity in United States, based in Great Neck, NY. It received its IRS tax-exemption ruling in July 2015, 11 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Open Style Lab Inc reported income of $259k and spending of $193k, leaving 26% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $220k to $259k (+17%), an average of +18% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 80% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Open Style Lab Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 56th percentile within NY. Charities of a similar size with the same main cause include Laney Memorial Tournament ($259k), Mypower Inc ($259k) and Love Chatham ($259k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 19% and program service revenue 81% of the total. At year end it held assets of $117k against liabilities of $8,779, net assets of $108k.