Fitchburg Art Museum

Analysis

Fitchburg Art Museum is a registered charity in United States, based in Fitchburg, MA. It received its IRS tax-exemption ruling in June 1948, 78 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 June 2024, Fitchburg Art Museum reported income of $1.6m and spending of $2.1m, spending 127% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.6m to $1.6m (+1.2%), an average of +0.3% a year. The sharpest change came in the year to June 2021, when income rose by 253%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fitchburg Art Museum sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Mama Foundation for the Arts Inc ($1.6m), Portland Theater Productions ($1.6m) and Great River Educational Arts Theatre ($1.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 49% and program service revenue 9.1% of the total. Compensation of current officers, directors and key employees was $125k (6.0% of expenses). Other salaries and wages came to $772k. At year end it held assets of $24.6m against liabilities of $50k, net assets of $24.6m. It reported 30 employees.