Umoja Magazine - Madison Inc

Analysis

Umoja Magazine - Madison Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in November 2021, 5 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, Umoja Magazine - Madison Inc reported income of $78k and spending of $165k, spending 211% of what it took in. Across the 3 years on record, from December 2019 to December 2023, income fell from $290k to $78k (-73%), an average of -48% a year. The sharpest change came in the year to December 2022, when income dropped by 85%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Umoja Magazine - Madison Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 28th percentile within WI. Charities of a similar size with the same main cause include Klein Foundation Inc ($78k), Mount Vernon Music Association ($78k) and David Horodoker Womens Organization ($78k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 13% and program service revenue 3.4% of the total. At year end it held assets of $95k against liabilities of $0, net assets of $95k.