Childrens Museum of the Arts Inc

Analysis

Childrens Museum of the Arts Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in February 1994, 32 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, Childrens Museum of the Arts Inc reported income of $934k and spending of $1.6m, spending 167% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.2m to $934k (-71%), an average of -27% a year. The sharpest change came in the year to June 2021, when income dropped by 49%. Over the whole period it spent 127% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Childrens Museum of the Arts Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within PA. Charities of a similar size with the same main cause include Utica Childrens Museum ($934k), Alexandria Seaport Foundation ($934k) and Association of Kentucky Public Radio Stations Inc ($934k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 135% and program service revenue 8.5% of the total. Compensation of current officers, directors and key employees was $185k (12% of expenses). Other salaries and wages came to $652k. At year end it held assets of $349k against liabilities of $345k, net assets of $4,268. It reported 14 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.