Fort Wayne Museum of Art Inc

Analysis

Fort Wayne Museum of Art Inc is a registered charity in United States, based in Fort Wayne, IN. It received its IRS tax-exemption ruling in February 1942, 84 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, Fort Wayne Museum of Art Inc reported income of $3.2m and spending of $2.9m, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.2m to $3.2m (-1.2%), an average of -0.3% a year. The sharpest change came in the year to June 2022, when income rose by 75%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fort Wayne Museum of Art Inc 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 89th percentile, and in the 90th percentile within IN. Charities of a similar size with the same main cause include California Humanities ($3.2m), Des Moines Symphony Association ($3.2m) and Capital & Main ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 4.0% of the total. Compensation of current officers, directors and key employees was $259k (8.8% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $14.8m against liabilities of $407k, net assets of $14.4m. It reported 39 employees.