Colorwave Project Inc

Analysis

Colorwave Project Inc is a registered charity in United States, based in Berkeley, CA. It received its IRS tax-exemption ruling in May 2021, 5 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Colorwave Project Inc reported income of $622k and spending of $534k, spending 86% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $600k to $622k (+3.5%), an average of +3.5% a year. Over the whole period it spent 89% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Colorwave Project Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 75th percentile within CA. Charities of a similar size with the same main cause include Gahanna Lincoln Athletic Boosters Inc ($621k), New Albany Montessori School ($622k) and Bizworld Foundation ($621k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $118k (22% of expenses). Other salaries and wages came to $225k. At year end it held assets of $169k against liabilities of $5,654, net assets of $163k. It reported 3 employees.