Museum of Art of Ogunquit

Analysis

Museum of Art of Ogunquit is a registered charity in United States, based in Ogunquit, ME. It received its IRS tax-exemption ruling in July 1958, 68 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, Museum of Art of Ogunquit reported income of $1.5m and spending of $1.3m, spending 87% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.7m to $1.5m (-14%), an average of -3.7% a year. The sharpest change came in the year to December 2021, when income rose by 66%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of Art of Ogunquit 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 March Field Museum Foundation Inc ($1.5m), Abbe Museum ($1.5m) and Capital Repertory Company Inc ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $126k (10.0% of expenses). Other salaries and wages came to $320k. At year end it held assets of $4.4m against liabilities of $702k, net assets of $3.7m. It reported 21 employees.