New Britain Museum of American Art Inc

Analysis

New Britain Museum of American Art Inc is a registered charity in United States, based in New Britain, CT. It received its IRS tax-exemption ruling in January 1996, 30 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 2024, New Britain Museum of American Art Inc reported income of $4.0m and spending of $5.9m, spending 146% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $5.5m to $4.0m (-27%), an average of -6.1% a year. The sharpest change came in the year to June 2023, when income dropped by 43%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Britain Museum of American Art Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 89th percentile within CT. Charities of a similar size with the same main cause include Michigan Theatre of Jackson Inc ($4.0m), Washington Renaissance Arts & Education Society ($4.0m) and Zoras House Inc ($4.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 74% and program service revenue 8.9% of the total. Compensation of current officers, directors and key employees was $407k (6.9% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $48.1m against liabilities of $1.3m, net assets of $46.8m. It reported 59 employees.