American Folk Art Museum

Analysis

American Folk Art Museum is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 1964, 62 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, American Folk Art Museum reported income of $9.6m and spending of $5.4m, leaving 44% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.6m to $9.6m (+164%), an average of +28% a year. The sharpest change came in the year to June 2023, when income rose by 67%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Folk Art Museum 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 93rd percentile within NY. Charities of a similar size with the same main cause include Spoleto Festival U S a ($9.6m), Wallis Annenberg Center for the Performing Arts ($9.6m) and Society for Laboratory Automation and Screening ($9.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 8.6% of the total. Compensation of current officers, directors and key employees was $406k (7.6% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $17.0m against liabilities of $408k, net assets of $16.5m. It reported 68 employees.