Arkansas Museum of Fine Arts Foundation

Analysis

Arkansas Museum of Fine Arts Foundation is a registered charity in United States, based in Little Rock, AR. It received its IRS tax-exemption ruling in January 1974, 52 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, Arkansas Museum of Fine Arts Foundation reported income of $16.0m and spending of $23.8m, spending 149% of what it took in. Across the 6 years on record, from June 2019 to December 2023, income fell from $34.5m to $16.0m (-54%), an average of -14% a year. The sharpest change came in the year to June 2021, when income rose by 90%. Over the whole period it spent 123% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Arkansas Museum of Fine Arts Foundation sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within AR. Charities of a similar size with the same main cause include Tall Timbers Research Inc ($15.9m), Laureate Institute for Brain Research Inc ($16.1m) and North Carolina Museum of Life & Science ($15.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $65.5m against liabilities of $4.8m, net assets of $60.7m.

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.