Owensboro Museum of Fine Art Inc

Analysis

Owensboro Museum of Fine Art Inc is a registered charity in United States, based in Owensboro, KY. It received its IRS tax-exemption ruling in January 1977, 49 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 June 2023, Owensboro Museum of Fine Art Inc reported income of $407k and spending of $439k, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $440k to $407k (-7.6%), an average of -2.0% a year. The sharpest change came in the year to June 2023, when income dropped by 19%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Owensboro Museum of Fine Art Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 68th percentile within KY. Charities of a similar size with the same main cause include Fairfield Foundation TBS ($407k), Chenango County Historical Society ($407k) and National Society of the Daughters of the American Revolution ($406k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% and program service revenue 2.3% of the total. Compensation of current officers, directors and key employees was $73k (17% of expenses). Other salaries and wages came to $133k. At year end it held assets of $7.0m against liabilities of $231k, net assets of $6.7m. It reported 11 employees.