Museum of African American Art

Analysis

Museum of African American Art is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in December 1976, 50 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 December 2023, Museum of African American Art reported income of $343k and spending of $106k, leaving 69% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $649k to $343k (-47%), an average of -47% a year. The sharpest change came in the year to December 2023, when income dropped by 47%. Over the whole period it spent 17% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of African American Art sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 66th percentile within CA. Charities of a similar size with the same main cause include Kaddatz Galleries ($343k), Royal Palm Players Inc ($343k) and Tag Childrens Museum of St Augustine Inc ($343k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.7% of the total. At year end it held assets of $855k against liabilities of $0, net assets of $855k.