Massachusetts Museum of Contemporary Art Foundation Inc

Analysis

Massachusetts Museum of Contemporary Art Foundation Inc is a registered charity in United States, based in North Adams, MA. It received its IRS tax-exemption ruling in June 1993, 33 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 September 2023, Massachusetts Museum of Contemporary Art Foundation Inc reported income of $21.8m and spending of $20.4m, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $14.3m to $21.8m (+53%), an average of +11% a year. The sharpest change came in the year to September 2021, when income rose by 58%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Massachusetts Museum of Contemporary Art Foundation Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within MA. Charities of a similar size with the same main cause include Klare Holdings ($21.8m), Eugenio Maria de Hostos Charter School ($21.8m) and Harvey School ($21.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 69% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $680k (3.3% of expenses). Other salaries and wages came to $7.2m. At year end it held assets of $83.5m against liabilities of $5.1m, net assets of $78.4m. It reported 216 employees.