Friends of the Maine State Museum Inc

Analysis

Friends of the Maine State Museum Inc is a registered charity in United States, based in Augusta, ME. It received its IRS tax-exemption ruling in October 1992, 34 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 June 2023, Friends of the Maine State Museum Inc reported income of $4.1m and spending of $1.8m, leaving 55% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $111k to $4.1m (+3617%), an average of +147% a year. The sharpest change came in the year to June 2023, when income rose by 434%. Over the whole period it spent 48% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Maine State Museum Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within ME. Charities of a similar size with the same main cause include Common Threads ($4.1m), Bardavon 1869 Opera House Inc ($4.1m) and Indij Public Media ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.1% of the total. Other salaries and wages came to $64k. At year end it held assets of $3.7m against liabilities of $0, net assets of $3.7m. It reported 3 employees.