Muscarelle Museum of Art Foundation

Analysis

Muscarelle Museum of Art Foundation is a registered charity in United States, based in Williamsburg, VA. It received its IRS tax-exemption ruling in March 2014, 12 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 organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Muscarelle Museum of Art Foundation reported income of $1.7m and spending of $426k, leaving 75% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $906k to $1.7m (+87%), an average of +17% a year. The sharpest change came in the year to June 2022, when income rose by 174%. Over the whole period it spent 44% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Muscarelle Museum of Art Foundation sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include California State Summer School Arts Foundation ($1.7m), Ridgefield Historical Society ($1.7m) and Quantum Theatre Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 0.0% of the total. Compensation of current officers, directors and key employees was $49k (11% of expenses). Other salaries and wages came to $84k. It paid $67k in professional fundraising fees. At year end it held assets of $7.4m against liabilities of $645k, net assets of $6.8m.