Aozora Community Foundation Inc

Analysis

Aozora Community Foundation Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2016, 10 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 August 2023, Aozora Community Foundation Inc reported income of $2.3m and spending of $2.5m, spending 109% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $328k to $2.3m (+609%), an average of +63% a year. The sharpest change came in the year to August 2021, when income rose by 340%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Aozora Community Foundation Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Mainly Mozart Inc ($2.3m), Oceanside Museum of Art ($2.3m) and American Institute for Contemporary German Studies John Hopkins Univ ($2.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 1.6% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $89k (3.5% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $3.0m against liabilities of $2.9m, net assets of $163k. It reported 35 employees.