Open Space Music Association Inc

Analysis

Open Space Music Association Inc is a registered charity in United States, based in Red Hook, NY. It received its IRS tax-exemption ruling in January 2018, 8 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, Open Space Music Association Inc reported income of $77k and spending of $77k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $101k to $77k (-24%), an average of -24% a year. The sharpest change came in the year to December 2023, when income dropped by 24%. 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, Open Space Music Association Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 30th percentile within NY. Charities of a similar size with the same main cause include Integrated Arts ($77k), Catalysis Society of Metropolitan New Yor Inc ($77k) and Ancient Art Archive ($77k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 2.8% of the total. At year end it held assets of $7,607 against liabilities of $0, net assets of $7,607.