Spaaces Foundation Inc

Analysis

Spaaces Foundation Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in March 2020, 6 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, Spaaces Foundation Inc reported income of $109k and spending of $110k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $87k to $109k (+26%), an average of +26% a year. The sharpest change came in the year to December 2023, when income rose by 26%. 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, Spaaces Foundation Inc sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 43rd percentile within FL. Charities of a similar size with the same main cause include Society of American Military Engineers ($109k), Greensboro Historical Museum Inc ($109k) and Minnesota Nursery & Landscape Association Foundation ($109k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 72% of the total. At year end it held assets of $32k against liabilities of $13k, net assets of $19k.