Madison Project

Analysis

Madison Project is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in March 2007, 19 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, Madison Project reported income of $6.0m and spending of $5.3m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.9m to $6.0m (+22%), an average of +5.0% a year. The sharpest change came in the year to June 2021, when income rose by 236%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Madison Project sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include Senior Connection Inc ($6.0m), Maymont Foundation ($6.0m) and Museo de Arte de Puerto Rico Inc ($6.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 76% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $115k (2.2% of expenses). Other salaries and wages came to $1.5m. It paid $154k in professional fundraising fees. At year end it held assets of $20.5m against liabilities of $871k, net assets of $19.6m. It reported 66 employees.