Monument Lab

Analysis

Monument Lab is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in March 2022, 4 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 June 2023, Monument Lab reported income of $5.0m and spending of $2.0m, leaving 59% of income unspent that year. Across the 2 years on record, from June 2022 to June 2023, income grew from $338k to $5.0m (+1388%), an average of +1388% a year. The sharpest change came in the year to June 2023, when income rose by 1388%. Over the whole period it spent 38% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Monument Lab sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 91st percentile within PA. Charities of a similar size with the same main cause include Vesterheim Norwegian American Museum ($5.0m), Williamstown Theatre Foundation Inc ($5.0m) and Hudson Library & Historical Society ($5.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% and program service revenue 12% of the total. Compensation of current officers, directors and key employees was $194k (9.5% of expenses). Other salaries and wages came to $734k. At year end it held assets of $3.5m against liabilities of $168k, net assets of $3.3m. It reported 21 employees.