Design Museum Foundation Inc

Analysis

Design Museum Foundation Inc is a registered charity in United States, based in Braintree, MA. It received its IRS tax-exemption ruling in July 2012, 14 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 June 2023, Design Museum Foundation Inc reported income of $542k and spending of $740k, spending 137% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $874k to $542k (-38%), an average of -15% a year. The sharpest change came in the year to June 2022, when income dropped by 30%. Over the whole period it spent 129% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Design Museum Foundation Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 72nd percentile within MA. Charities of a similar size with the same main cause include Beechcraft Heritage Museum Inc ($542k), Bulgarian-Macedonian National Educational and Cultural Centr Inc ($542k) and Frontier Media Group ($541k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $126k (17% of expenses). Other salaries and wages came to $299k. At year end it held assets of $211k against liabilities of $689k, net assets of -$478k. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.