Hickory Museum of Art Inc

Analysis

Hickory Museum of Art Inc is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in October 1949, 77 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, Hickory Museum of Art Inc reported income of $814k and spending of $832k, spending 102% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $772k to $814k (+5.3%), an average of +1.3% a year. The sharpest change came in the year to June 2021, when income rose by 23%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hickory Museum of Art Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 77th percentile within NC. Charities of a similar size with the same main cause include Network for Open Scientificinnovation ($813k), Amazing Grace Conservatory Inc ($814k) and Arts Engagement Foundation of Kansas City ($813k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 67% and program service revenue 7.0% of the total. Other salaries and wages came to $458k. At year end it held assets of $5.4m against liabilities of $190k, net assets of $5.2m. It reported 16 employees.