Wadsworth Atheneum Museum of Art

Analysis

Wadsworth Atheneum Museum of Art is a registered charity in United States, based in Hartford, CT. It received its IRS tax-exemption ruling in March 1942, 84 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 June 2023, Wadsworth Atheneum Museum of Art reported income of $10.9m and spending of $18.8m, spending 172% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $9.3m to $10.9m (+18%), an average of +4.2% a year. The sharpest change came in the year to June 2021, when income rose by 72%. Over the whole period it spent 140% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wadsworth Atheneum Museum of Art sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Democracy Now Productions Inc ($10.9m), Naval Aviation Museum Foundation Inc ($11.0m) and Bexar Bulverde Volunteer Fire Department ($10.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 58% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $900k (4.8% of expenses). Other salaries and wages came to $3.8m. At year end it held assets of $136.5m against liabilities of $1.0m, net assets of $135.5m. It reported 137 employees.