Friends of the Minnesota Orchestra

Analysis

Friends of the Minnesota Orchestra is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in February 1960, 66 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Friends of the Minnesota Orchestra reported income of $246k and spending of $192k, leaving 22% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $193k to $246k (+28%), an average of +6.3% a year. The sharpest change came in the year to August 2023, when income rose by 52%. Over the whole period it spent 83% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Minnesota Orchestra sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 57th percentile within MN. Charities of a similar size with the same main cause include Friends of the Bklyn New School- Bklyn School for Collab Studies ($246k), Peninsula Shepherds Centers ($246k) and Homer Council on the Arts ($246k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 53% and program service revenue 3.8% of the total. At year end it held assets of $1.0m against liabilities of $7,000, net assets of $1.0m.