Muskegon Museum of Art Foundation

Analysis

Muskegon Museum of Art Foundation is a registered charity in United States, based in Muskegon, MI. It received its IRS tax-exemption ruling in November 1986, 40 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 June 2024, Muskegon Museum of Art Foundation reported income of $2.7m and spending of $1.9m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.4m to $2.7m (+97%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 358%. Over the whole period it spent 38% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Muskegon Museum of Art Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within MI. Charities of a similar size with the same main cause include Northern Chautauqua Community Foundation Inc ($2.7m), United Way of Merced County Inc ($2.7m) and Roxbury Community College Foundation Inc ($2.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 60% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $121k (6.3% of expenses). Other salaries and wages came to $677k. At year end it held assets of $22.5m against liabilities of $2.7m, net assets of $19.8m. It reported 41 employees.