Italian American Museum

Analysis

Italian American Museum is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in April 2002, 24 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, Italian American Museum reported income of $2.9m and spending of $592k, leaving 79% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $556k to $2.9m (+419%), an average of +51% a year. The sharpest change came in the year to December 2022, when income rose by 880%. Over the whole period it spent 22% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Italian American Museum sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include Mosaic Theater Company of DC ($2.9m), American Kennel Club Museum of the Dog ($2.9m) and Fort Worth Opera Association Inc ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. Other salaries and wages came to $51k. At year end it held assets of $7.6m against liabilities of $1.8m, net assets of $5.9m. It reported 3 employees.