Re Olds Museum Assoc Inc

Analysis

Re Olds Museum Assoc Inc is a registered charity in United States, based in Lansing, MI. It received its IRS tax-exemption ruling in April 1978, 48 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, Re Olds Museum Assoc Inc reported income of $242k and spending of $248k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $364k to $242k (-34%), an average of -9.7% a year. The sharpest change came in the year to December 2020, when income dropped by 57%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Re Olds Museum Assoc 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 58th percentile, and in the 57th percentile within MI. Charities of a similar size with the same main cause include Irule Dance Foundation ($242k), Opening Night Theater Inc ($242k) and Crispr Meeting Inc ($242k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 41% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $60k (24% of expenses). Other salaries and wages came to $61k. At year end it held assets of $616k against liabilities of $6,067, net assets of $610k. It reported 7 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.