Midway Contemporary Art

Analysis

Midway Contemporary Art is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in August 2000, 26 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, Midway Contemporary Art reported income of $1.3m and spending of $674k, leaving 46% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $514k to $1.3m (+145%), an average of +25% a year. The sharpest change came in the year to December 2021, when income rose by 89%. Over the whole period it spent 60% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Midway Contemporary Art 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 Arlington Music Hall ($1.3m), Women Organized to Respond to Life Threatening Disease ($1.3m) and San Angelo Performing Arts Coalition Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $130k (19% of expenses). Other salaries and wages came to $229k. At year end it held assets of $4.9m against liabilities of $2.1m, net assets of $2.8m. It reported 5 employees.