Springfield Museum of Art

Analysis

Springfield Museum of Art is a registered charity in United States, based in Springfield, OH. It received its IRS tax-exemption ruling in February 1952, 74 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2021, Springfield Museum of Art reported income of $1.5m and spending of $753k, leaving 51% of income unspent that year. Across the 3 years on record, from December 2019 to December 2021, income fell from $1.7m to $1.5m (-8.1%), an average of -4.2% a year. The sharpest change came in the year to December 2020, when income dropped by 26%. Over the whole period it spent 49% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Springfield Museum of Art sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within OH. Charities of a similar size with the same main cause include Chisholm Trail Heritage Museum Inc ($1.5m), Jacksonville Historic Naval Ship Association Inc ($1.5m) and Wheelwright Museum of the American Indian ($1.5m).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 89% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $93k (12% of expenses). Other salaries and wages came to $173k. At year end it held assets of $7.5m against liabilities of $20k, net assets of $7.5m. It reported 14 employees.