The International Friends of the Montreal Museum of Fine Arts Inc

Analysis

The International Friends of the Montreal Museum of Fine Arts Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1998, 28 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 2024, The International Friends of the Montreal Museum of Fine Arts Inc reported income of $1.0m and spending of $524k, leaving 48% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $504k to $1.0m (+99%), an average of +19% a year. The sharpest change came in the year to June 2022, when income rose by 438%. Over the whole period it spent 82% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, The International Friends of the Montreal Museum of Fine Arts Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 75th percentile within NY. Charities of a similar size with the same main cause include Hoi Bao Tro Dong Nu Ty Chua Giesu Tinh Thuong ($1.0m), Eskaton Foundation ($1.0m) and Lakeview Village Foundation ($1.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $572k against liabilities of $5,400, net assets of $567k.