The Powerhouse

Analysis

The Powerhouse is a registered charity in United States, based in Durango, CO. It received its IRS tax-exemption ruling in July 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Powerhouse reported income of $1.0m and spending of $1.1m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $617k to $1.0m (+63%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 127% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Powerhouse sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within CO. Charities of a similar size with the same main cause include Intermuseum Conservation Association ($1.0m), Otv Open Television Inc ($1.0m) and American Frontier Culture Foundation Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $81k (7.0% of expenses). Other salaries and wages came to $390k. At year end it held assets of $3.0m against liabilities of $628k, net assets of $2.4m. It reported 44 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.