Illinois State Museum Society Museum Building

Analysis

Illinois State Museum Society Museum Building is a registered charity in United States, based in Springfield, IL. It received its IRS tax-exemption ruling in April 1958, 68 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 June 2023, Illinois State Museum Society Museum Building reported income of $760k and spending of $852k, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.0m to $760k (-27%), an average of -7.7% a year. The sharpest change came in the year to June 2021, when income dropped by 46%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Illinois State Museum Society Museum Building 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 75th percentile within IL. Charities of a similar size with the same main cause include Sumter Museum ($760k), Access Afterschool ($761k) and Portland Street Art Alliance ($760k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 1.4% of the total. Other salaries and wages came to $486k. At year end it held assets of $3.3m against liabilities of $141k, net assets of $3.2m. It reported 16 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.