Rockford Art Museum

Analysis

Rockford Art Museum is a registered charity in United States, based in Rockford, IL. It received its IRS tax-exemption ruling in November 1955, 71 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 December 2023, Rockford Art Museum reported income of $765k and spending of $571k, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $827k to $765k (-7.6%), an average of -2.0% a year. The sharpest change came in the year to December 2023, when income rose by 71%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Rockford Art Museum sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within IL. Charities of a similar size with the same main cause include Kids Orchestra Inc ($765k), Alliance Francaise of Atlanta Inc ($765k) and Muskogee Little Theatre Inc ($764k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $89k (16% of expenses). Other salaries and wages came to $133k. At year end it held assets of $10.8m against liabilities of $352k, net assets of $10.5m. It reported 7 employees.