Museum of Contemporary Art Detroit

Analysis

Museum of Contemporary Art Detroit is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in August 2006, 20 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, Museum of Contemporary Art Detroit reported income of $1.3m and spending of $2.0m, spending 147% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.8m to $1.3m (-72%), an average of -27% a year. The sharpest change came in the year to December 2020, when income dropped by 67%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of Contemporary Art Detroit sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within MI. Charities of a similar size with the same main cause include Inner Arbor Trust Inc ($1.3m), The Freebsd Foundation ($1.3m) and Liberty Hall Museum Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% of the total. Other salaries and wages came to $1.2m. At year end it held assets of $3.2m against liabilities of $205k, net assets of $3.0m. It reported 33 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.