Friends of Modern Art

Analysis

Friends of Modern Art is a registered charity in United States, based in Flint, MI. It received its IRS tax-exemption ruling in August 1981, 45 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Friends of Modern Art reported income of $54k and spending of $61k, spending 113% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $29k to $54k (+89%), an average of +17% a year. The sharpest change came in the year to August 2022, when income rose by 289%. Over the whole period it spent 137% 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 Modern Art sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 20th percentile within MI. Charities of a similar size with the same main cause include Vocalis Chamber Choir ($54k), Palm Beach Insitute for the Entertainment Arts Inc ($54k) and Travelers Rest Historical Society the ($54k).

On its Form 990 for the period ending August 2023, revenue came from program service revenue 6.3% of the total. At year end it held assets of $98k against liabilities of $0, net assets of $98k.