Monhegan Historial & Cultural Museum Association

Analysis

Monhegan Historial & Cultural Museum Association is a registered charity in United States, based in Monhegan, ME. It received its IRS tax-exemption ruling in February 1985, 41 years ago. 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, Monhegan Historial & Cultural Museum Association reported income of $467k and spending of $376k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.2m to $467k (-62%), an average of -22% a year. The sharpest change came in the year to December 2021, when income dropped by 53%. Over the whole period it spent 38% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Monhegan Historial & Cultural Museum Association sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 65th percentile within ME. Charities of a similar size with the same main cause include Piffaro the Renaissance Band ($467k), Riverhill Foundation Inc ($467k) and Key West Police Athletic League Inc ($467k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% of the total. Compensation of current officers, directors and key employees was $12k (3.2% of expenses). Other salaries and wages came to $151k. At year end it held assets of $7.7m against liabilities of $267k, net assets of $7.5m. It reported 12 employees.