Friends of the Braumart

Analysis

Friends of the Braumart is a registered charity in United States, based in Iron Mountain, MI. It received its IRS tax-exemption ruling in April 2010, 16 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, Friends of the Braumart reported income of $218k and spending of $205k, spending 94% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $88k to $218k (+147%), an average of +35% a year. The sharpest change came in the year to December 2022, when income rose by 48%. Over the whole period it spent 103% 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 Braumart sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 55th percentile within MI. Charities of a similar size with the same main cause include Mineral Point Opera House Inc ($217k), Friends of the Bulldog Marching Band ($218k) and Aha a Hands on Adventure a Childrens Museum Inc ($217k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 12% and program service revenue 72% of the total. Other salaries and wages came to $14k. At year end it held assets of $428k against liabilities of $261k, net assets of $167k. It reported 1 employees.