Mama Foundation for the Arts Inc

Analysis

Mama Foundation for the Arts Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1998, 28 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mama Foundation for the Arts Inc reported income of $1.6m and spending of $1.8m, spending 107% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $762k to $1.6m (+116%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 265%. Over the whole period it spent 74% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mama Foundation for the Arts Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 81st percentile within NY. Charities of a similar size with the same main cause include Great River Educational Arts Theatre ($1.6m), Fitchburg Art Museum ($1.6m) and Lakeview Cemetery Foundation ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $91k (5.2% of expenses). Other salaries and wages came to $692k. At year end it held assets of $2.3m against liabilities of $20k, net assets of $2.3m. It reported 15 employees.