Taikoarts Midwest

Analysis

Taikoarts Midwest is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in May 2016, 10 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Taikoarts Midwest reported income of $548k and spending of $585k, spending 107% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $244k to $548k (+125%), an average of +22% a year. The sharpest change came in the year to August 2023, when income rose by 85%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Taikoarts Midwest sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 71st percentile within MN. Charities of a similar size with the same main cause include United German American Societies of Greater Chicago Inc ($548k), American Academy of Laser Dentistry ($548k) and Womens Initiative for Self- Empowerment ($548k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 74% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $82k (14% of expenses). Other salaries and wages came to $126k. At year end it held assets of $1.4m against liabilities of $1.3m, net assets of $119k.