Morris Museum Inc

Analysis

Morris Museum Inc is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in October 1954, 72 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 2024, Morris Museum Inc reported income of $3.1m and spending of $3.3m, spending 104% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.8m to $3.1m (+70%), an average of +14% a year. The sharpest change came in the year to June 2021, when income rose by 87%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Morris Museum Inc 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 91st percentile within NJ. Charities of a similar size with the same main cause include Western Avenue Community for the Arts Inc ($3.1m), Friends of Levitt Pavilion Denver ($3.1m) and Hub on Canal Inc ($3.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 73% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $301k (9.3% of expenses). Other salaries and wages came to $955k. At year end it held assets of $15.0m against liabilities of $2.2m, net assets of $12.8m. It reported 39 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.