Artspace

Analysis

Artspace is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 1990, 36 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Artspace reported income of $126k and spending of $110k, spending 87% of its income. Across the 2 years on record, from June 2023 to June 2024, income fell from $157k to $126k (-20%), an average of -20% a year. The sharpest change came in the year to June 2024, when income dropped by 20%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Artspace sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 43rd percentile within VA. Charities of a similar size with the same main cause include Izaak Walton League of America Inc ($126k), PTA California Congress of Parents Teachers & Students Inc ($126k) and Mason Community Players Inc ($126k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 39% and program service revenue 39% of the total. At year end it held assets of $129k against liabilities of $979, net assets of $128k.