Magnum Chorum

Analysis

Magnum Chorum is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in July 1993, 33 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Magnum Chorum reported income of $215k and spending of $239k, spending 111% of what it took in. Across the 2 years on record, from June 2022 to June 2023, income fell from $283k to $215k (-24%), an average of -24% a year. The sharpest change came in the year to June 2023, when income dropped by 24%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Magnum Chorum sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 54th percentile within MN. Charities of a similar size with the same main cause include East Tennesee Japanese School Inc ($215k), Pittsburgh Japanese School ($216k) and Dwight D Eisenhower Society ($215k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $30k (13% of expenses). Other salaries and wages came to $58k. At year end it held assets of $21k against liabilities of $0, net assets of $21k.