Museum of the Bible Inc

Analysis

Museum of the Bible Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in May 2011, 15 years ago. 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, Museum of the Bible Inc reported income of $56.0m and spending of $67.5m, spending 121% of what it took in. Across the 6 years on record, from June 2019 to December 2023, income fell from $140.5m to $56.0m (-60%), an average of -17% a year. The sharpest change came in the year to December 2022, when income rose by 106%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Museum of the Bible Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within OK. Charities of a similar size with the same main cause include Volunteers of America Inc ($55.9m), Senior Housing Assistance Group ($56.1m) and Kitsap Mental Health Service ($55.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $1.8m (2.6% of expenses). Other salaries and wages came to $12.0m. It paid $251k in professional fundraising fees. At year end it held assets of $447.4m against liabilities of $8.2m, net assets of $439.2m. It reported 260 employees.

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.