American Friends of the Prado Museum

Analysis

American Friends of the Prado Museum is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 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 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, American Friends of the Prado Museum reported income of $391k and spending of $458k, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $487k to $391k (-20%), an average of -5.3% a year. The sharpest change came in the year to December 2021, when income rose by 1584%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Friends of the Prado Museum sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within MN. Charities of a similar size with the same main cause include Performing Arts Building Foundation Inc ($391k), Hall of Heroes Super Hero Museum ($391k) and Urban Archive Inc ($391k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $9.1m against liabilities of $0, net assets of $9.1m.