Iowa Quilt Museum

Analysis

Iowa Quilt Museum is a registered charity in United States, based in Winterset, IA. It received its IRS tax-exemption ruling in December 2015, 11 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, Iowa Quilt Museum reported income of $156k and spending of $144k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $85k to $156k (+84%), an average of +84% a year. The sharpest change came in the year to December 2023, when income rose by 84%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Iowa Quilt Museum sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 48th percentile within IA. Charities of a similar size with the same main cause include Austin Swing Syndicate Inc ($156k), Tunefoolery Music Inc ($156k) and Shenandoah Valley Black Heritage Project Inc ($156k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 37% of the total. At year end it held assets of $442k against liabilities of $88k, net assets of $354k.