Lagrange Art Museum Inc

Analysis

Lagrange Art Museum Inc is a registered charity in United States, based in Lagrange, GA. It received its IRS tax-exemption ruling in June 1966, 60 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, Lagrange Art Museum Inc reported income of $494k and spending of $460k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $512k to $494k (-3.6%), an average of -0.9% a year. The sharpest change came in the year to December 2021, when income rose by 62%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lagrange Art Museum Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 74th percentile within GA. Charities of a similar size with the same main cause include National Association for Holistic Aromatherapy ($494k), Telluride Institute Inc ($494k) and Restoration Community Arts ($493k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. Other salaries and wages came to $105k. At year end it held assets of $1.4m against liabilities of $170k, net assets of $1.3m. It reported 3 employees.