Katonah Museum of Art Inc

Analysis

Katonah Museum of Art Inc is a registered charity in United States, based in Katonah, NY. It received its IRS tax-exemption ruling in October 1957, 69 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Katonah Museum of Art Inc reported income of $1.1m and spending of $2.1m, spending 198% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.5m to $1.1m (-30%), an average of -11% a year. The sharpest change came in the year to June 2021, when income rose by 70%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Katonah Museum of Art Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 76th percentile within NY. Charities of a similar size with the same main cause include Marin Dance Theatre ($1.1m), Missoula Civic Symphony Association ($1.1m) and San Jose News Bureau ($1.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $256k (12% of expenses). Other salaries and wages came to $618k. At year end it held assets of $6.1m against liabilities of $226k, net assets of $5.9m. It reported 36 employees.