K Space Contemporary

Analysis

K Space Contemporary is a registered charity in United States, based in Corp Christi, TX. It received its IRS tax-exemption ruling in September 2003, 23 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, K Space Contemporary reported income of $372k and spending of $370k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $282k to $372k (+32%), an average of +7.2% a year. The sharpest change came in the year to December 2021, when income rose by 103%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, K Space Contemporary sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 70th percentile within TX. Charities of a similar size with the same main cause include Eugene Opera ($372k), Thousand Oaks Chinese School ($372k) and Atlantic Symphony Orchestra Inc ($372k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 31% of the total. Other salaries and wages came to $97k. At year end it held assets of $127k against liabilities of $11k, net assets of $116k. It reported 8 employees.