K Space Contemporary

Tax-deductible

Corp Christi, TX501(c)(3)Since 2001Arts & CultureEIN 74-3006446

Education & promotion of cultural fine arts to the local communities

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average deficit $3K a year · 1% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$22K
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 18 voting members
Concern: none of 18 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$354K
-9% vs prior year
Spent
$399K
To programs
73%
Net assets
$76K
By yearFY2020–FY2025
Revenue
$354K
FY2025▼ -9%
Revenue by fiscal year
FY2020$93K
FY2021$190K
FY2022$373K
FY2023$372K
FY2024$391K
FY2025$354K
Expenses
$399K
FY2025▲ +3%
Expenses by fiscal year
FY2020$131K
FY2021$168K
FY2022$338K
FY2023$370K
FY2024$386K
FY2025$399K
Net assets
$76K
FY2025▼ -37%
Net assets by fiscal year
FY2020$59K
FY2021$80K
FY2022$114K
FY2023$116K
FY2024$121K
FY2025$76K

From the FY2025 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 2003.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $292K Management & general 24% · $94K Fundraising 3% · $12K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

18 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Co-Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Business Cha
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jennifer Arnold’s $515 as Art Chair is at the 0th percentile of top reported officer pay among 2216 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See K Space Contemporary executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes and educates local communities in cultural fine arts.

Provided by the organization

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3 program services account for $292K of program spending, described in the organization's own filed words · FY2025.
01

Cultural events are held to promote culture through the work of local artists, musicians and performers and to make it accessible to the general public. The dia de los muertos festival normally held in nov is an annual outdoor festival that covers 10 city blocks and features demonstrations by the art departments of local colleges, an art…

$183Kprogram expense
02

Educational programs offer opportunity to anyone interested in learning about art as well as those trying to improve their art skills. The programs bring hands-on multi-disciplinary art projects classes in mural arts, cultural dance, drawing, painting,and papier mache.

$56Kprogram expense
03

Exhibition of innovative contemporary art by local emerging & mid-career artists for the purpose of promoting their work and providing educational programs including a forum for new art forms. Featured exhibitions were held in various galleries held in january through december with visitors of approx. 27,300.

$53Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$354K
Ln 12
Gifts and grantsLn 1h$215K
Fees for servicesLn 2g$85K
Other incomeLn 4–11$55K
Money outPt IX
$399K
Ln 25
Programscol B$292K
Managementcol C$94K
Fundraisingcol D$12K
Owns and owesPt X
$76K
net assets · Ln 32
Cash and savingsLn 1–2$80K
Total assetsLn 16$98K
LiabilitiesLn 26$22K
PeoplePt VI, VII
18
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$215K
Government grantsLn 1e$44K
Fundraising eventsLn 1c$10K
Fees for servicesLn 2g$85K
Investment incomeLn 3$1
Other incomeLn 4–11$55K
Total revenueLn 12$354K
Assets in detailPt X, end of year
CashLn 1$65K
SavingsLn 2$15K
Cash and savings togetherLn 1–2$80K
Land, buildings, equipmentLn 10c$6K
Total assetsLn 16$98K
LiabilitiesLn 26$22K
Net assetsLn 32$76K
OperationsPt I, VI
EmployeesI 58
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$101K$80K
Land, buildings, equipmentLn 10c$9K$6K
Total assetsLn 16$126K$98K
LiabilitiesLn 26$5K$22K
Net assetsLn 32$121K$76K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$27K$27K
Other salaries and wagesLn 7$96K$87K$9K
Payroll taxesLn 10$9K$7K$3K
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$104K$99K$3K$2K
Advertising and promotionLn 12$2K$2K$32$92
Office expensesLn 13$14K$7K$6K$1K
OccupancyLn 16$34K$34K
TravelLn 17$16$16
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$4K$2K$2K
Other expenses (24a–d)Ln 24$68K$68K
All other expensesLn 24e$37K$21K$7K$9K
Total functional expensesLn 25$399K$292K$94K$12K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $354K$399K−$44K$76K 990 PDF
FY2024 $391K$386K$5K$121K 990 PDF
FY2023 $372K$370K$2K$116K 990 PDF
FY2022 $373K$338K$34K$114K 990 PDF
FY2021 $190K$168K$21K$80K 990 PDF
FY2020 $93K$131K−$38K$59K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $354,350 across 10 lines filed
Lines not itemized here account for $17,415 of total revenue; see the IRS return.
VIII-1b Membership dues$8,480
VIII-1c Fundraising events$9,963
VIII-1e Government grants$43,500
VIII-1f All other contributions, gifts and grants$152,631
VIII-1h Total contributions, gifts and grants$214,574
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $85,098$85,098
VIII-3 Investment incomeRelated to mission $1$1
VIII-8 Net income from fundraising events$22,607
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $14,655$14,655
VIII-12 Total revenueRelated to mission $102,514 · Excluded from tax $14,655$354,350
Part IX · Statement of functional expenses $398,651 across 13 lines filed
IX-5 Pay of current officers, directors and key staffManagement $26,650$26,650
IX-7 Other salaries and wagesPrograms $86,803 · Management $9,489$96,292
IX-10 Payroll taxesPrograms $6,641 · Management $2,765$9,406
IX-11c Accounting feesManagement $1,301$1,301
IX-11g Other fees for servicesPrograms $98,650 · Management $3,280 · Fundraising $2,025$103,955
IX-12 Advertising and promotionPrograms $1,561 · Management $32 · Fundraising $92$1,685
IX-13 Office expensesPrograms $7,403 · Management $5,750 · Fundraising $1,328$14,481
IX-16 OccupancyManagement $33,836$33,836
IX-17 TravelManagement $16$16
IX-22 Depreciation, depletion and amortizationManagement $2,091$2,091
IX-23 InsurancePrograms $2,406 · Management $1,912$4,318
IX-24 Other expenses (24a–d)Programs $67,527$67,527
IX-24e All other expensesPrograms $21,041 · Management $7,062 · Fundraising $8,990$37,093
IX-25 Total functional expensesPrograms $292,032 · Management $94,184 · Fundraising $12,435$398,651
Part X · Balance sheet $98,099 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $86,913$65,492
X-2 Savings and temporary cash investmentsStart of year $14,274$14,947
X-8 Inventories for sale or useStart of year $8,770$11,220
X-10c Land, buildings and equipment, netStart of year $8,531$6,440
X-16 Total assetsStart of year $125,988$98,099
X-17 Accounts payable and accrued expensesStart of year $1,805$18,683
X-25 Other liabilitiesStart of year $3,637$3,171
X-26 Total liabilitiesStart of year $5,442$21,854
X-27 Net assets without donor restrictionsStart of year $120,546$76,245
X-32 Total net assets or fund balancesStart of year $120,546$76,245
X-33 Total liabilities and net assetsStart of year $125,988$98,099
Part XI · Reconciliation of net assets $76,245 net assets at year end
XI-1 Total revenue$354,350
XI-2 Total expenses$398,651
XI-3 Revenue less expenses−$44,301
XI-4 Net assets at start of year$120,546
XI-10 Net assets at end of year$76,245

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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