Albany Museum of Art Incorporated

Analysis

Albany Museum of Art Incorporated is a registered charity in United States, based in Albany, GA. It received its IRS tax-exemption ruling in October 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 June 2024, Albany Museum of Art Incorporated reported income of $914k and spending of $963k, spending 105% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $993k to $914k (-8.0%), an average of -1.7% a year. The sharpest change came in the year to June 2021, when income rose by 509%. Over the whole period it spent 53% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Albany Museum of Art Incorporated sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 82nd percentile within GA. Charities of a similar size with the same main cause include Community Pride Advocates Inc ($914k), Morys Preservation Inc ($914k) and New Jersey Repertory Company a New Jersey Non-Profit Corporation ($913k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 57% and program service revenue 6.0% of the total. Compensation of current officers, directors and key employees was $127k (13% of expenses). Other salaries and wages came to $341k. It paid $31k in professional fundraising fees. At year end it held assets of $12.2m against liabilities of $23k, net assets of $12.2m. It reported 15 employees.