Runestone Museum Foundation

Analysis

Runestone Museum Foundation is a registered charity in United States, based in Alexandria, MN. It received its IRS tax-exemption ruling in April 1982, 44 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, Runestone Museum Foundation reported income of $100k and spending of $174k, spending 174% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $158k to $100k (-37%), an average of -11% a year. The sharpest change came in the year to December 2023, when income dropped by 53%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Runestone Museum Foundation sits at the 41st percentile: it is larger than about 41% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 34th percentile within MN. Charities of a similar size with the same main cause include Fox Valley Ballet ($100k), Maryland Matters Inc ($100k) and Chapman Estate Foundation ($100k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $58k (33% of expenses). Other salaries and wages came to $23k. At year end it held assets of $700k against liabilities of $77k, net assets of $623k. It reported 4 employees.