Walker Art Center Inc

Analysis

Walker Art Center Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in September 1946, 80 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 2024, Walker Art Center Inc reported income of $60.7m and spending of $29.2m, leaving 52% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $9.4m to $60.7m (+547%), an average of +60% a year. The sharpest change came in the year to June 2021, when income rose by 438%. Over the whole period it spent 74% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Walker Art Center Inc 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 MN. Charities of a similar size with the same main cause include Royal Ontario Museum ($60.7m), The Exploratorium ($61.0m) and Shed NYC Inc ($60.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 48% and program service revenue 4.7% of the total. Compensation of current officers, directors and key employees was $1.5m (5.0% of expenses). Other salaries and wages came to $9.9m. It paid $101k in professional fundraising fees. At year end it held assets of $409.7m against liabilities of $4.1m, net assets of $405.6m. It reported 317 employees.