Cultureworks Inc

Analysis

Cultureworks Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in November 1965, 61 years ago. 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 June 2024, Cultureworks Inc reported income of $1.1m and spending of $1.1m, spending 98% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $1.2m to $1.1m (-4.2%), an average of -1.1% a year. The sharpest change came in the year to June 2022, when income rose by 18%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cultureworks Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 81st percentile within VA. Charities of a similar size with the same main cause include North East Medical Services Foundation ($1.1m), Broadway House Corporation ($1.1m) and Shaker Schools Foundation ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 97% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $174k (16% of expenses). Other salaries and wages came to $194k. At year end it held assets of $666k against liabilities of $137k, net assets of $529k. It reported 6 employees.