Magnes Museum Foundation

Analysis

Magnes Museum Foundation is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in January 1964, 62 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 June 2024, Magnes Museum Foundation reported income of $126k and spending of $377k, spending 299% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $521k to $126k (-76%), an average of -25% a year. The sharpest change came in the year to June 2021, when income rose by 340%. Over the whole period it spent 201% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Magnes Museum Foundation 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 45th percentile within CA. Charities of a similar size with the same main cause include Orangeburg County Fine Arts Center ($126k), Southwood Band Booster Club ($126k) and Listening Point Foundation Inc ($126k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 44% of the total. At year end it held assets of $4.2m against liabilities of $422k, net assets of $3.7m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.