Maine Museum of Innovation Learning and Labor

Analysis

Maine Museum of Innovation Learning and Labor is a registered charity in United States, based in Lewiston, ME. It received its IRS tax-exemption ruling in August 1996, 30 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, Maine Museum of Innovation Learning and Labor reported income of $1.5m and spending of $301k, leaving 81% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $274k to $1.5m (+464%), an average of +54% a year. The sharpest change came in the year to December 2021, when income rose by 1378%. Over the whole period it spent 20% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Maine Museum of Innovation Learning and Labor sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 82nd percentile within ME. Charities of a similar size with the same main cause include NCW Tech Alliance ($1.5m), True Star Foundation Inc ($1.5m) and Latin American Studies Association Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 0.4% of the total. Compensation of current officers, directors and key employees was $97k (32% of expenses). Other salaries and wages came to $106k. At year end it held assets of $7.4m against liabilities of $112k, net assets of $7.3m. It reported 4 employees.