Art Museum of Greater Lafayette Inc

Analysis

Art Museum of Greater Lafayette Inc is a registered charity in United States, based in Lafayette, IN. It received its IRS tax-exemption ruling in March 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 (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, Art Museum of Greater Lafayette Inc reported income of $565k and spending of $503k, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $600k to $565k (-5.8%), an average of -1.5% a year. The sharpest change came in the year to June 2020, when income dropped by 25%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Art Museum of Greater Lafayette Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within IN. Charities of a similar size with the same main cause include Westmoreland Symphony Orchestra ($565k), Yale Alumni Chorus Foundation Inc ($565k) and Armenian National Committee Western Region ($565k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 70% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $83k (16% of expenses). Other salaries and wages came to $165k. At year end it held assets of $771k against liabilities of $44k, net assets of $726k. It reported 8 employees.