Montclair Art Museum

Analysis

Montclair Art Museum is a registered charity in United States, based in Montclair, NJ. It received its IRS tax-exemption ruling in July 1926, 100 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 2024, Montclair Art Museum reported income of $4.4m and spending of $5.9m, spending 134% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $4.1m to $4.4m (+9.0%), an average of +2.2% a year. The sharpest change came in the year to June 2022, when income rose by 73%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Montclair Art Museum sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within NJ. Charities of a similar size with the same main cause include National Assembly of State Arts Agencies ($4.4m), Maritime Museum Association of San Diego ($4.4m) and Give to Research ($4.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 58% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $146k (2.5% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $22.8m against liabilities of $2.6m, net assets of $20.2m. It reported 134 employees.