Springfield Museums Corporation

Analysis

Springfield Museums Corporation is a registered charity in United States, based in Springfield, MA. It received its IRS tax-exemption ruling in February 1935, 91 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Springfield Museums Corporation reported income of $9.8m and spending of $8.4m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.1m to $9.8m (+38%), an average of +8.4% a year. The sharpest change came in the year to June 2022, when income rose by 20%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Springfield Museums Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MA. Charities of a similar size with the same main cause include Trinity Academy Inc ($9.8m), Greater Brunswick Regional Charter School ($9.9m) and Snohomish County Workforce Development Council ($9.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $326k (3.9% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $88.9m against liabilities of $3.6m, net assets of $85.3m. It reported 142 employees.