Louise Wells Cameron Art Museum

Analysis

Louise Wells Cameron Art Museum is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in November 1964, 62 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 2024, Louise Wells Cameron Art Museum reported income of $2.6m and spending of $2.8m, spending 108% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $2.0m to $2.6m (+26%), an average of +6.0% a year. Over the whole period it spent 117% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Louise Wells Cameron Art Museum sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include Mobile Symphony Inc ($2.6m), Institute for Human Centered Design Inc ($2.6m) and Red River STEM Inc ($2.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 50% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $105k (3.8% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $21.0m against liabilities of $113k, net assets of $20.9m. It reported 72 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.