Laguna Art Museum

Analysis

Laguna Art Museum is a registered charity in United States, based in Laguna Beach, CA. It received its IRS tax-exemption ruling in October 1996, 30 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 June 2024, Laguna Art Museum reported income of $3.3m and spending of $3.2m, spending 98% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $3.1m to $3.3m (+5.7%), an average of +1.1% a year. The sharpest change came in the year to June 2023, when income rose by 25%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Laguna Art Museum sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 90th percentile within CA. Charities of a similar size with the same main cause include Whitaker Center for Science and the Arts ($3.3m), Garth Newel Music Center Foundation Corp ($3.3m) and Armenian American Museum and Cultural Center of California ($3.3m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 65% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $301k (9.4% of expenses). Other salaries and wages came to $835k. At year end it held assets of $7.2m against liabilities of $498k, net assets of $6.7m. It reported 37 employees.