Foundation for the Reading Public Museum

Analysis

Foundation for the Reading Public Museum is a registered charity in United States, based in Reading, PA. It received its IRS tax-exemption ruling in July 1989, 37 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 December 2023, Foundation for the Reading Public Museum reported income of $4.5m and spending of $3.4m, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.8m to $4.5m (+19%), an average of +4.4% a year. The sharpest change came in the year to December 2023, when income rose by 51%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Foundation for the Reading Public Museum sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within PA. Charities of a similar size with the same main cause include American Association of Petroleum Geologists Foundation ($4.5m), Social and Public Art Resource Center ($4.5m) and Detroit Jazz Festival Productions Inc ($4.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 71% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $201k (5.9% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $14.9m against liabilities of $989k, net assets of $14.0m. It reported 46 employees.