Parrish Art Museum Inc

Analysis

Parrish Art Museum Inc is a registered charity in United States, based in Water Mill, NY. It received its IRS tax-exemption ruling in March 1959, 67 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 December 2023, Parrish Art Museum Inc reported income of $4.7m and spending of $6.1m, spending 130% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $6.5m to $4.7m (-27%), an average of -7.7% a year. The sharpest change came in the year to December 2021, when income rose by 48%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Parrish Art Museum Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Santa Barbara Symphony Orchestra Association ($4.7m), North Texas Performing Arts ($4.7m) and Build Change ($4.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $489k (8.0% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $38.4m against liabilities of $1.9m, net assets of $36.4m. It reported 54 employees.