South Bend Museum of Art Inc

Analysis

South Bend Museum of Art Inc is a registered charity in United States, based in South Bend, IN. It received its IRS tax-exemption ruling in November 1949, 77 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 December 2023, South Bend Museum of Art Inc reported income of $989k and spending of $1.1m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $844k to $989k (+17%), an average of +4.0% a year. The sharpest change came in the year to December 2021, when income rose by 345%. Over the whole period it spent 68% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, South Bend Museum of Art Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within IN. Charities of a similar size with the same main cause include W O Smith Nashville Community Music School ($989k), Georgiafirst Robotics Inc ($989k) and Ilan-Lael ($988k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $128k (11% of expenses). Other salaries and wages came to $546k. At year end it held assets of $3.0m against liabilities of $128k, net assets of $2.9m. It reported 55 employees.