Armenian Library and Museum of America Inc

Analysis

Armenian Library and Museum of America Inc is a registered charity in United States, based in Watertown, MA. It received its IRS tax-exemption ruling in March 1987, 39 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 2023, Armenian Library and Museum of America Inc reported income of $2.2m and spending of $1.5m, leaving 31% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $2.2m (+106%), an average of +20% a year. The sharpest change came in the year to June 2021, when income rose by 57%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Armenian Library and Museum of America Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include Ragdale Foundation ($2.2m), American Medical Writers Association ($2.2m) and Knights of Columbus Museum Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 4.4% of the total. Compensation of current officers, directors and key employees was $211k (14% of expenses). Other salaries and wages came to $256k. At year end it held assets of $16.3m against liabilities of $79k, net assets of $16.2m. It reported 14 employees.