Vector Space

Analysis

Vector Space is a registered charity in United States, based in Lynchburg, VA. 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, Vector Space reported income of $626k and spending of $402k, leaving 36% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $236k to $626k (+165%), an average of +38% a year. The sharpest change came in the year to December 2022, when income rose by 63%. Over the whole period it spent 60% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Vector Space sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 74th percentile within VA. Charities of a similar size with the same main cause include Historical Society of Central Florida Inc ($626k), Stephen Foster Drama Assn Inc ($626k) and Florida Wildflower Foundation Inc ($625k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 93% and program service revenue 6.0% of the total. Compensation of current officers, directors and key employees was $43k (11% of expenses). Other salaries and wages came to $19k. At year end it held assets of $1.7m against liabilities of $955k, net assets of $697k. It reported 3 employees.