Maymont Foundation

Analysis

Maymont Foundation is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in June 1959, 67 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 June 2023, Maymont Foundation reported income of $6.0m and spending of $8.0m, spending 133% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.0m to $6.0m (+0.9%), an average of +0.2% a year. The sharpest change came in the year to June 2021, when income rose by 34%. Over the whole period it spent 116% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Maymont Foundation sits at the 97th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 93rd percentile within VA. Charities of a similar size with the same main cause include Madison Project ($6.0m), First Peoples Fund ($6.0m) and Senior Connection Inc ($6.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $187k (2.3% of expenses). Other salaries and wages came to $3.0m. At year end it held assets of $34.4m against liabilities of $580k, net assets of $33.8m. It reported 100 employees.