Minnetonka Center for the Arts

Analysis

Minnetonka Center for the Arts is a registered charity in United States, based in Wayzata, MN. It received its IRS tax-exemption ruling in June 1954, 72 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 June 2024, Minnetonka Center for the Arts reported income of $1.3m and spending of $1.4m, spending 111% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $1.3m to $1.3m (-0.9%), an average of -0.2% a year. The sharpest change came in the year to June 2022, when income rose by 81%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Minnetonka Center for the Arts sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MN. Charities of a similar size with the same main cause include Auschwitz-Birkenau Memorial Foundation ($1.3m), Artreach ($1.3m) and Concord University Research and Development Corporation ($1.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 28% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $178k (12% of expenses). Other salaries and wages came to $416k. At year end it held assets of $4.6m against liabilities of $213k, net assets of $4.4m. It reported 80 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.