Columbia Museum of Art

Analysis

Columbia Museum of Art is a registered charity in United States, based in Columbia, SC. It received its IRS tax-exemption ruling in February 1962, 64 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, Columbia Museum of Art reported income of $6.5m and spending of $5.0m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.6m to $6.5m (+41%), an average of +9.0% a year. The sharpest change came in the year to June 2022, when income rose by 240%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Columbia Museum of Art sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within SC. Charities of a similar size with the same main cause include Performing Arts Houston ($6.5m), Center for the Art of Translation ($6.5m) and Partnership on Ai to Benefit People and Society ($6.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 5.3% of the total. Compensation of current officers, directors and key employees was $193k (3.8% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $19.6m against liabilities of $1.1m, net assets of $18.5m. It reported 97 employees.