Grand Rapids Art Museum

Analysis

Grand Rapids Art Museum is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in July 1944, 82 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 September 2023, Grand Rapids Art Museum reported income of $4.8m and spending of $7.9m, spending 163% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $4.2m to $4.8m (+15%), an average of +3.4% a year. The sharpest change came in the year to September 2021, when income rose by 309%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grand Rapids Art Museum sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within MI. Charities of a similar size with the same main cause include Arts Center of Coastal Carolina ($4.8m), Americas Turning Point Inc ($4.8m) and City Access New York ($4.8m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 81% and program service revenue 14% of the total. Other salaries and wages came to $1.8m. At year end it held assets of $65.5m against liabilities of $1.7m, net assets of $63.8m. It reported 80 employees.