Abbe Museum

Analysis

Abbe Museum is a registered charity in United States, based in Bar Harbor, ME. It received its IRS tax-exemption ruling in June 1998, 28 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 September 2023, Abbe Museum reported income of $1.5m and spending of $1.0m, leaving 29% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $872k to $1.5m (+67%), an average of +14% a year. The sharpest change came in the year to September 2023, when income rose by 217%. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Abbe Museum sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 81st percentile within ME. Charities of a similar size with the same main cause include Museum of Art of Ogunquit ($1.5m), Kneisel Hall ($1.5m) and March Field Museum Foundation Inc ($1.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 83% and program service revenue 8.0% of the total. Compensation of current officers, directors and key employees was $30k (2.9% of expenses). Other salaries and wages came to $389k. At year end it held assets of $4.7m against liabilities of $471k, net assets of $4.2m. It reported 10 employees.