Friends of the Museum

Analysis

Friends of the Museum is a registered charity in United States, based in Perham, MN. It received its IRS tax-exemption ruling in July 1998, 28 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, Friends of the Museum reported income of $156k and spending of $112k, leaving 28% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $78k to $156k (+100%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 92%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Museum sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 46th percentile within MN. Charities of a similar size with the same main cause include Synergy Theater ($156k), Advocates for Balance at Chautauqua Inc ($156k) and Central Oregon Center for the Arts ($156k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 32% of the total. Other salaries and wages came to $30k. At year end it held assets of $112k against liabilities of $1,011, net assets of $111k. It reported 1 employees.