Art Museum New Bedford Inc

Analysis

Art Museum New Bedford Inc is a registered charity in United States, based in New Bedford, MA. It received its IRS tax-exemption ruling in June 1996, 30 years ago. 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 December 2022, Art Museum New Bedford Inc reported income of $302k and spending of $443k, spending 147% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $746k to $302k (-60%), an average of -26% a year. The sharpest change came in the year to December 2022, when income dropped by 47%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Art Museum New Bedford Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within MA. Charities of a similar size with the same main cause include USA Swimming Inc ($302k), Chicago Area Alternative Education League a Not for Profit Corp ($302k) and Team Mario ($302k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 94% and program service revenue 4.7% of the total. Compensation of current officers, directors and key employees was $5,894 (1.3% of expenses). Other salaries and wages came to $255k. At year end it held assets of $229k against liabilities of $25k, net assets of $204k. It reported 27 employees.