Brucemore Inc

Analysis

Brucemore Inc is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in January 1982, 44 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 March 2024, Brucemore Inc reported income of $4.3m and spending of $3.3m, leaving 24% of income unspent that year. Across the 6 years on record, from March 2019 to March 2024, income grew from $2.9m to $4.3m (+49%), an average of +8.3% a year. The sharpest change came in the year to March 2020, when income rose by 159%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Brucemore Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within IA. Charities of a similar size with the same main cause include Foundation for Art and Preservation in Embassies ($4.3m), United States Foundation for the Commemoration of the World Wars ($4.3m) and Indian American Community Services ($4.3m).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 56% and program service revenue 2.1% of the total. Compensation of current officers, directors and key employees was $129k (3.9% of expenses). Other salaries and wages came to $541k. At year end it held assets of $19.6m against liabilities of $155k, net assets of $19.4m. It reported 26 employees.