Telfair Museum of Art Inc

Analysis

Telfair Museum of Art Inc is a registered charity in United States, based in Savannah, GA. It received its IRS tax-exemption ruling in September 1973, 53 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Telfair Museum of Art Inc reported income of $7.7m and spending of $8.6m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $10.0m to $7.7m (-23%), an average of -6.2% a year. The sharpest change came in the year to December 2022, when income rose by 38%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Telfair Museum of Art Inc 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 94th percentile, and in the 95th percentile within GA. Charities of a similar size with the same main cause include Indiana Historical Society ($7.7m), Connecticut Association for the Performing Arts ($7.7m) and Alaska Public Media Inc ($7.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $415k (4.8% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $61.6m against liabilities of $1.1m, net assets of $60.5m. It reported 91 employees.