Colorstack

Analysis

Colorstack is a registered charity in United States, based in Freeport, NY. It received its IRS tax-exemption ruling in February 2021, 5 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Colorstack reported income of $2.2m and spending of $1.4m, leaving 37% of income unspent that year. Across the 3 years on record, from June 2021 to June 2023, income grew from $833k to $2.2m (+164%), an average of +63% a year. The sharpest change came in the year to June 2023, when income rose by 63%. Over the whole period it spent 54% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Colorstack 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 87th percentile, and in the 84th percentile within NY. Charities of a similar size with the same main cause include Toolbank USA Inc ($2.2m), Schaefer Rehabilitation Center Inc ($2.2m) and Help Works Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $185k (13% of expenses). Other salaries and wages came to $408k. It paid $38k in professional fundraising fees. At year end it held assets of $2.4m against liabilities of $347k, net assets of $2.0m. It reported 6 employees.