Bainbridge Island Museum of Art

Analysis

Bainbridge Island Museum of Art is a registered charity in United States, based in Bainbridge Is, WA. It received its IRS tax-exemption ruling in November 2009, 17 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, Bainbridge Island Museum of Art reported income of $3.0m and spending of $4.0m, spending 131% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.7m to $3.0m (-18%), an average of -4.8% a year. The sharpest change came in the year to December 2021, when income rose by 160%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bainbridge Island Museum of Art 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 90th percentile within WA. Charities of a similar size with the same main cause include Metropolitan School of the Arts ($3.0m), Northwest Childrens Theater and School Inc ($3.0m) and Historic Highfield Inc ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $232k (5.8% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $22.9m against liabilities of $265k, net assets of $22.6m. It reported 64 employees.