Midwest Art Conservation Center Inc

Analysis

Midwest Art Conservation Center Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in December 1977, 49 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 2023, Midwest Art Conservation Center Inc reported income of $2.7m and spending of $2.2m, spending 83% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.1m to $2.7m (+136%), an average of +33% a year. The sharpest change came in the year to June 2023, when income rose by 49%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Midwest Art Conservation Center Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 87th percentile within MN. Charities of a similar size with the same main cause include Connecticut News Project Inc ($2.7m), Museum of Childrens Arts ($2.7m) and Farmers Museum Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 26% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $158k (7.1% of expenses). Other salaries and wages came to $894k. At year end it held assets of $2.8m against liabilities of $269k, net assets of $2.5m. It reported 15 employees.