The Chrysler Museum Inc

Analysis

The Chrysler Museum Inc is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in January 1980, 46 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 2023, The Chrysler Museum Inc reported income of $21.4m and spending of $18.4m, spending 86% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.5m to $21.4m (+59%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 77%. Over the whole period it spent 60% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Chrysler Museum Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within VA. Charities of a similar size with the same main cause include Pennsylvania Ballet Association ($21.4m), Arts United of Greater Fort Wayne ($21.5m) and Columbia River Maritime Museum Inc ($21.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 6.4% of the total. Compensation of current officers, directors and key employees was $506k (2.7% of expenses). Other salaries and wages came to $4.2m. It paid $107k in professional fundraising fees. At year end it held assets of $138.7m against liabilities of $2.2m, net assets of $136.5m. It reported 172 employees.