Morikami Inc

Analysis

Morikami Inc is a registered charity in United States, based in Delray Beach, FL. It received its IRS tax-exemption ruling in May 1980, 46 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 September 2023, Morikami Inc reported income of $2.3m and spending of $2.9m, spending 124% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $3.2m to $2.3m (-28%), an average of -8.0% a year. The sharpest change came in the year to September 2022, when income rose by 113%. Over the whole period it spent 128% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Morikami Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within FL. Charities of a similar size with the same main cause include Apache Software Foundation ($2.3m), A Better Balance ($2.3m) and The Tuskegee Airmen National Historical Museum ($2.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 70% and program service revenue 8.6% of the total. Other salaries and wages came to $1.4m. At year end it held assets of $9.0m against liabilities of $624k, net assets of $8.4m. It reported 33 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.