Friends of the Springfield Art Museum Inc

Analysis

Friends of the Springfield Art Museum Inc is a registered charity in United States, based in Springfield, MO. It received its IRS tax-exemption ruling in October 1988, 38 years ago. 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 Springfield Art Museum Inc reported income of $308k and spending of $143k, leaving 54% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $6.2m to $308k (-95%), an average of -95% a year. The sharpest change came in the year to December 2023, when income dropped by 95%. Over the whole period it spent 3.9% 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 Springfield Art Museum Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within MO. Charities of a similar size with the same main cause include Virginia Chapter of the American Planning Association ($308k), Edgar Baillie Ministries Inc ($308k) and Society of Satellite Professionals ($308k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% of the total. At year end it held assets of $6.2m against liabilities of $1,448, net assets of $6.2m.