Paterson Museum Foundation

Analysis

Paterson Museum Foundation is a registered charity in United States, based in Paterson, NJ. It received its IRS tax-exemption ruling in April 2019, 7 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 December 2023, Paterson Museum Foundation reported income of $133k and spending of $14k, leaving 90% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $46k to $133k (+189%), an average of +189% a year. The sharpest change came in the year to December 2023, when income rose by 189%. Over the whole period it spent 39% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Paterson Museum Foundation sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 52nd percentile within NJ. Charities of a similar size with the same main cause include Southern California Vocal Association ($133k), Igbo Organization Inc ($133k) and Bulgarian Traditions ($133k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 5.7% of the total. At year end it held assets of $441k against liabilities of $0, net assets of $441k.