Museum of Friends

Analysis

Museum of Friends is a registered charity in United States, based in Walsenburg, CO. It received its IRS tax-exemption ruling in December 2007, 19 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, Museum of Friends reported income of $388k and spending of $197k, leaving 49% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $508k to $388k (-24%), an average of -6.5% a year. The sharpest change came in the year to December 2023, when income rose by 45%. Over the whole period it spent 55% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of Friends sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 63rd percentile within CO. Charities of a similar size with the same main cause include Veda Geetha Foundation Org ($388k), Mercury Soul Inc ($388k) and Adams County Historical Society ($387k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $39k (20% of expenses). Other salaries and wages came to $14k. At year end it held assets of $1.2m against liabilities of $235k, net assets of $936k. It reported 5 employees.