Oakwood Arts Inc

Analysis

Oakwood Arts Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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, Oakwood Arts Inc reported income of $399k and spending of $380k, spending 95% of its income. Across the 5 years on record, from June 2019 to August 2023, income grew from $263k to $399k (+52%), an average of +11% a year. The sharpest change came in the year to August 2023, when income rose by 804%. Over the whole period it spent 84% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Oakwood Arts Inc sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 66th percentile within VA. Charities of a similar size with the same main cause include St Bernard Economic Development Foundation ($399k), Philadelphia Accelerator Fund ($399k) and Chesapeake Bay Industries Inc ($399k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 94% and program service revenue 3.7% of the total. Compensation of current officers, directors and key employees was $48k (12% of expenses). Other salaries and wages came to $139k. At year end it held assets of $574k against liabilities of $196k, net assets of $378k. It reported 14 employees.