Grand Rapids Art Museum Foundation

Analysis

Grand Rapids Art Museum Foundation is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in June 1992, 34 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 September 2023, Grand Rapids Art Museum Foundation reported income of $799k and spending of $1.1m, spending 135% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $805k to $799k (-0.7%), an average of -0.2% a year. The sharpest change came in the year to September 2021, when income rose by 120%. Over the whole period it spent 50% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grand Rapids Art Museum Foundation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within MI. Charities of a similar size with the same main cause include South Texas Symphony Association Inc ($799k), Drama Studio Inc ($799k) and Lismore Road Inc ($798k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 1.7% of the total. At year end it held assets of $23.0m against liabilities of $27k, net assets of $23.0m.