Museum of Automotive Icons Inc

Analysis

Museum of Automotive Icons Inc is a registered charity in United States, based in Manhattan, KS. It received its IRS tax-exemption ruling in June 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 (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 Automotive Icons Inc reported income of $2.9m and spending of $1.0m, leaving 65% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $4.1m to $2.9m (-29%), an average of -8.1% a year. The sharpest change came in the year to December 2022, when income dropped by 44%. Over the whole period it spent 25% 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 Automotive Icons Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within KS. Charities of a similar size with the same main cause include The Elizabeth Foundation for the Arts ($2.9m), Play on Shakespeare ($2.9m) and Patrick Henry Memorial Foundation ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 3.1% of the total. Compensation of current officers, directors and key employees was $98k (9.7% of expenses). Other salaries and wages came to $242k. At year end it held assets of $14.0m against liabilities of $19k, net assets of $14.0m. It reported 20 employees.