Open Studios Inc

Analysis

Open Studios Inc is a registered charity in United States, based in Boulder, CO. It received its IRS tax-exemption ruling in May 1996, 30 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 Studios Inc reported income of $239k and spending of $249k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $288k to $239k (-17%), an average of -4.6% a year. The sharpest change came in the year to December 2021, when income rose by 145%. Over the whole period it spent 102% 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 Studios 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 57th percentile, and in the 54th percentile within CO. Charities of a similar size with the same main cause include Dallas Bach Society ($239k), Historical and Genealogical Society of Somerset County ($239k) and Storytelling Arts of Indiana ($239k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $55k (22% of expenses). Other salaries and wages came to $24k. At year end it held assets of $32k against liabilities of $47k, net assets of -$15k. It reported 17 employees.