Longview Museum of Fine Arts

Analysis

Longview Museum of Fine Arts is a registered charity in United States, based in Longview, TX. It received its IRS tax-exemption ruling in November 1972, 54 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, Longview Museum of Fine Arts reported income of $730k and spending of $538k, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $389k to $730k (+88%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 248%. Over the whole period it spent 50% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Longview Museum of Fine Arts sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 80th percentile within TX. Charities of a similar size with the same main cause include Tom of Finland Foundation Inc ($730k), The Journey ($730k) and Lake Champlain Access Television Inc ($730k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 102% and program service revenue 9.4% of the total. Other salaries and wages came to $205k. At year end it held assets of $3.0m against liabilities of $8,330, net assets of $3.0m. It reported 6 employees.