Magnum Opus Inc

Analysis

Magnum Opus Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in August 2017, 9 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 June 2024, Magnum Opus Inc reported income of $97k and spending of $69k, leaving 29% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income fell from $103k to $97k (-5.6%), an average of -5.6% a year. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Magnum Opus Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 35th percentile within WI. Charities of a similar size with the same main cause include Art League of Lincoln ($97k), Minnesota Band Directors Association ($97k) and LA Vernia Historical Association ($97k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 100% of the total. At year end it held assets of $112k against liabilities of $19k, net assets of $94k.