Venango Museum of Art Science and Industry

Analysis

Venango Museum of Art Science and Industry is a registered charity in United States, based in Oil City, PA. It received its IRS tax-exemption ruling in September 1980, 46 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, Venango Museum of Art Science and Industry reported income of $112k and spending of $116k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $106k to $112k (+5.5%), an average of +1.4% a year. The sharpest change came in the year to December 2022, when income rose by 44%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Venango Museum of Art Science and Industry sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 38th percentile within PA. Charities of a similar size with the same main cause include Friends of Bafta US Inc ($112k), Jazz Passengers Music Projects ($112k) and Education Francaise Los Angeles ($112k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 5.2% of the total. Compensation of current officers, directors and key employees was $34k (30% of expenses). Other salaries and wages came to $6,394. At year end it held assets of $830k against liabilities of $651, net assets of $829k. It reported 2 employees.