Minnesota Fishing Museum

Analysis

Minnesota Fishing Museum is a registered charity in United States, based in Little Falls, MN. It received its IRS tax-exemption ruling in June 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 December 2023, Minnesota Fishing Museum reported income of $211k and spending of $167k, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $233k to $211k (-9.7%), an average of -2.5% a year. The sharpest change came in the year to December 2023, when income rose by 63%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Minnesota Fishing Museum 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 53rd percentile within MN. Charities of a similar size with the same main cause include The Quincy Museum Inc ($211k), Mojave Desert Heritage and Cultural Association ($211k) and Laughing Horse Arts Foundation ($211k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $45k (27% of expenses). Other salaries and wages came to $19k. At year end it held assets of $762k against liabilities of $71k, net assets of $692k. It reported 3 employees.