Friends of the Chinese American Museum

Analysis

Friends of the Chinese American Museum is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in February 1993, 33 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 March 2023, Friends of the Chinese American Museum reported income of $560k and spending of $569k, spending 102% of its income. Across the 5 years on record, from March 2019 to March 2023, income fell from $913k to $560k (-39%), an average of -12% a year. The sharpest change came in the year to March 2022, when income rose by 143%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Chinese American Museum sits at the 79th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within CA. Charities of a similar size with the same main cause include Indiana Military Museum Inc ($560k), Barrington History Museum ($560k) and The Chinese Consolidated Benevolent Association of Washington DC ($560k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 49% of the total. Compensation of current officers, directors and key employees was $98k (17% of expenses). Other salaries and wages came to $222k. At year end it held assets of $3.0m against liabilities of $44k, net assets of $2.9m. It reported 10 employees.