Openspace Education

Analysis

Openspace Education is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in July 2021, 5 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 June 2024, Openspace Education reported income of $71k and spending of $54k, leaving 24% of income unspent that year. Across the 3 years on record, from December 2022 to June 2024, income grew from $34k to $71k (+107%), an average of +44% a year. The sharpest change came in the year to June 2024, when income rose by 97%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Openspace Education sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 27th percentile within VA. Charities of a similar size with the same main cause include Patriot Flight Inc ($71k), Jewish Womens Repertory Company ($71k) and Recovering Joy Arts and Nature Center Inc ($71k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $31k against liabilities of $0, net assets of $31k.