Columbus Museum of Art

Analysis

Columbus Museum of Art is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in February 1998, 28 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, Columbus Museum of Art reported income of $20.3m and spending of $16.3m, spending 80% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $26.4m to $20.3m (-23%), an average of -6.3% a year. The sharpest change came in the year to June 2020, when income dropped by 59%. 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, Columbus Museum of Art 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 97th percentile within OH. Charities of a similar size with the same main cause include World Monuments Fund Inc ($20.3m), Virginia Tech Applied Research Corporation ($20.4m) and Lowell Observatory ($20.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 80% and program service revenue 4.5% of the total. Compensation of current officers, directors and key employees was $283k (1.7% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $198.6m against liabilities of $20.1m, net assets of $178.5m. It reported 303 employees.