Milwaukee Art Museum Inc

Analysis

Milwaukee Art Museum Inc is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in May 1937, 89 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 August 2023, Milwaukee Art Museum Inc reported income of $22.8m and spending of $20.8m, spending 91% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $23.0m to $22.8m (-0.8%), an average of -0.2% a year. The sharpest change came in the year to August 2020, when income dropped by 26%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Milwaukee Art Museum Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within WI. Charities of a similar size with the same main cause include New Museum of Contemporary Art ($22.8m), American Federation for Aging ($22.8m) and Houston Arts Alliance ($22.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 71% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $1.2m (5.7% of expenses). Other salaries and wages came to $7.4m. At year end it held assets of $157.9m against liabilities of $4.5m, net assets of $153.4m. It reported 323 employees.