Arnot Art Museum

Analysis

Arnot Art Museum is a registered charity in United States, based in Elmira, NY. It received its IRS tax-exemption ruling in October 1942, 84 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 August 2023, Arnot Art Museum reported income of $460k and spending of $691k, spending 150% of what it took in. Across the 4 years on record, from August 2019 to August 2023, income fell from $535k to $460k (-14%), an average of -4.9% a year. The sharpest change came in the year to August 2023, when income dropped by 40%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arnot Art Museum sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 65th percentile within NY. Charities of a similar size with the same main cause include Beat the Odds ($460k), Southern Memorial Association ($461k) and American Friends of Fondation Beyeler ($460k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 74% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $84k (12% of expenses). Other salaries and wages came to $150k. At year end it held assets of $5.9m against liabilities of $35k, net assets of $5.9m. It reported 7 employees.