George & Leah McKenna Museum of African American Art

Analysis

George & Leah McKenna Museum of African American Art is a registered charity in United States, based in New Orleans, LA. It received its IRS tax-exemption ruling in January 2011, 15 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, George & Leah McKenna Museum of African American Art reported income of $165k and spending of $179k, spending 109% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $310k to $165k (-47%), an average of -19% a year. The sharpest change came in the year to December 2021, when income dropped by 59%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, George & Leah McKenna Museum of African American Art sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 48th percentile within LA. Charities of a similar size with the same main cause include Brighton Cultural Arts Connection ($165k), Bravo Waukegan ($165k) and Twin Cities Regional Cable Channel ($165k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $67k (37% of expenses). At year end it held assets of $4.6m against liabilities of $2,626, net assets of $4.6m. It reported 1 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.