Imagination Factory Childrens Museum

Analysis

Imagination Factory Childrens Museum is a registered charity in United States, based in Iron Mountain, MI. 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, Imagination Factory Childrens Museum reported income of $126k and spending of $100k, leaving 20% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $99k to $126k (+27%), an average of +27% a year. The sharpest change came in the year to December 2023, when income rose by 27%. Over the whole period it spent 73% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Imagination Factory Childrens Museum sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 42nd percentile within MI. Charities of a similar size with the same main cause include Malcolm & Dorothy Warner McEachren Charitable Trust ($125k), Hightide Robotics Inc ($126k) and Windward Choral Society ($125k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $35k (35% of expenses). At year end it held assets of $80k against liabilities of $2,937, net assets of $77k.