Detroit Institute of Arts

Analysis

Detroit Institute of Arts is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in June 1948, 78 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, Detroit Institute of Arts reported income of $71.2m and spending of $57.6m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $76.1m to $71.2m (-6.4%), an average of -1.6% a year. The sharpest change came in the year to June 2022, when income rose by 36%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Detroit Institute of Arts sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MI. Charities of a similar size with the same main cause include San Francisco Symphony ($71.1m), California Academy of Sciences ($71.5m) and Geneva Foundation 04-15-93 ($70.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 8.2% of the total. Compensation of current officers, directors and key employees was $2.1m (3.7% of expenses). Other salaries and wages came to $17.9m. At year end it held assets of $574.8m against liabilities of $16.3m, net assets of $558.5m. It reported 542 employees.