Friends of the Museums Inc

Analysis

Friends of the Museums Inc is a registered charity in United States, based in Marietta, OH. It received its IRS tax-exemption ruling in December 1982, 44 years ago. 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 2024, Friends of the Museums Inc reported income of $371k and spending of $349k, spending 94% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $326k to $371k (+14%), an average of +2.6% a year. The sharpest change came in the year to June 2022, when income rose by 39%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Museums Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within OH. Charities of a similar size with the same main cause include Disciples Foundation Inc ($371k), Athena Foundation ($371k) and New Berlin Athletic Association Inc ($371k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 11% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $62k (18% of expenses). Other salaries and wages came to $135k. At year end it held assets of $480k against liabilities of $14k, net assets of $466k. It reported 12 employees.