Museum for Art in Wood Inc

Analysis

Museum for Art in Wood Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in April 1987, 39 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, Museum for Art in Wood Inc reported income of $734k and spending of $1.5m, spending 198% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $828k to $734k (-11%), an average of -3.0% a year. The sharpest change came in the year to December 2020, when income rose by 1258%. Over the whole period it spent 37% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Museum for Art in Wood Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 74th percentile within PA. Charities of a similar size with the same main cause include Sheet Metal Workers 292 Apprenticeship Fund ($734k), Lake View Foundation ($734k) and Upstate Emergency Medical Services Council Inc ($733k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% of the total. Compensation of current officers, directors and key employees was $119k (8.2% of expenses). Other salaries and wages came to $321k. At year end it held assets of $16.8m against liabilities of $1.0m, net assets of $15.8m. It reported 15 employees.