Visions Museum of Textile Art

Analysis

Visions Museum of Textile Art is a registered charity in United States, based in San Diego, CA. It received its IRS tax-exemption ruling in October 1990, 36 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 2023, Visions Museum of Textile Art reported income of $338k and spending of $508k, spending 150% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $204k to $338k (+65%), an average of +13% a year. The sharpest change came in the year to December 2021, when income rose by 49%. Over the whole period it spent 146% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Visions Museum of Textile Art sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 66th percentile within CA. Charities of a similar size with the same main cause include Greater Newburyport Community Media Hub Inc ($338k), Rallysound Inc ($338k) and Butler County Symphony Association ($338k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 6.9% of the total. Compensation of current officers, directors and key employees was $60k (12% of expenses). Other salaries and wages came to $188k. At year end it held assets of $1.2m against liabilities of $0, net assets of $1.2m. It reported 8 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.