Museum of Russian Art

Analysis

Museum of Russian Art is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in December 2002, 24 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, Museum of Russian Art reported income of $1.7m and spending of $1.6m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.7m (+67%), an average of +14% a year. The sharpest change came in the year to December 2022, when income rose by 213%. Over the whole period it spent 58% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of Russian Art sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MN. Charities of a similar size with the same main cause include St Louis Shakespeare Festival ($1.7m), Yestermorrow Inc ($1.7m) and Utah Humanities Council ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $145k (8.9% of expenses). Other salaries and wages came to $528k. At year end it held assets of $8.6m against liabilities of $447k, net assets of $8.2m. It reported 17 employees.