The Taubman Museum of Art

Analysis

The Taubman Museum of Art is a registered charity in United States, based in Roanoke, VA. It received its IRS tax-exemption ruling in July 1954, 72 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 Taubman Museum of Art reported income of $3.2m and spending of $5.9m, spending 183% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.0m to $3.2m (+7.6%), an average of +1.9% a year. The sharpest change came in the year to June 2020, when income rose by 347%. Over the whole period it spent 86% 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 Taubman Museum of Art sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within VA. Charities of a similar size with the same main cause include Paine Art Center & Gardens Inc ($3.2m), American Numismatic Society ($3.2m) and Science Spectrum ($3.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 41% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $330k (5.6% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $68.9m against liabilities of $310k, net assets of $68.6m. It reported 64 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.