Canton Museum of Art

Analysis

Canton Museum of Art is a registered charity in United States, based in Canton, OH. It received its IRS tax-exemption ruling in July 1941, 85 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, Canton Museum of Art reported income of $1.5m and spending of $1.7m, spending 114% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $2.8m to $1.5m (-46%), an average of -18% a year. The sharpest change came in the year to June 2021, when income dropped by 38%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Canton 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 Gilbert House Childrens Museum Inc ($1.5m), Open Information Security Foundation Inc ($1.5m) and Chambers County Childrens Museum ($1.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $95k (5.5% of expenses). Other salaries and wages came to $539k. At year end it held assets of $6.4m against liabilities of $443k, net assets of $6.0m. It reported 51 employees.