Friends of the City of Raleigh Museum

Analysis

Friends of the City of Raleigh Museum is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in September 1993, 33 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, Friends of the City of Raleigh Museum reported income of $193k and spending of $133k, leaving 31% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $147k to $193k (+32%), an average of +7.1% a year. The sharpest change came in the year to June 2023, when income rose by 38%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the City of Raleigh Museum sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within NC. Charities of a similar size with the same main cause include Higginson 1908 Foundation Inc ($193k), Western North Carolina Historical Association Incorporation ($193k) and Basin Arts ($193k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 51% of the total. At year end it held assets of $579k against liabilities of $2,934, net assets of $576k.