Delaware Art Museum

Analysis

Delaware Art Museum is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in March 1935, 91 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 December 2023, Delaware Art Museum reported income of $5.1m and spending of $6.3m, spending 123% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.3m to $5.1m (-39%), an average of -12% a year. The sharpest change came in the year to December 2022, when income dropped by 101%. Over the whole period it spent 131% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Delaware 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 DE. Charities of a similar size with the same main cause include American Choral Directors ($5.1m), WSKG Public Telecommunications Council ($5.1m) and Foundation for the Flint Cultural Center ($5.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 9.3% of the total. Compensation of current officers, directors and key employees was $250k (4.0% of expenses). At year end it held assets of $50.0m against liabilities of $359k, net assets of $49.6m. It reported 65 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.