Grand Rapids Public Museum

Analysis

Grand Rapids Public Museum is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in March 2008, 18 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 2023, Grand Rapids Public Museum reported income of $20.6m and spending of $9.3m, leaving 55% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.5m to $20.6m (+142%), an average of +25% a year. The sharpest change came in the year to June 2023, when income rose by 96%. Over the whole period it spent 73% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grand Rapids Public Museum sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within MI. Charities of a similar size with the same main cause include Ut-Battelle Development Corporation ($20.5m), Project Veritas ($20.7m) and The Tivoli Theatre Foundation Inc ($20.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 9.9% of the total. Compensation of current officers, directors and key employees was $478k (5.1% of expenses). Other salaries and wages came to $3.6m. At year end it held assets of $23.2m against liabilities of $1.4m, net assets of $21.8m. It reported 150 employees.