Museum of Fine Arts of St Petersburg Fla Inc

Analysis

Museum of Fine Arts of St Petersburg Fla Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in July 1964, 62 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, Museum of Fine Arts of St Petersburg Fla Inc reported income of $3.6m and spending of $7.4m, spending 202% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $8.7m to $3.6m (-58%), an average of -20% a year. The sharpest change came in the year to June 2021, when income dropped by 74%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of Fine Arts of St Petersburg Fla Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Childrens Museum of Richmond ($3.6m), City Bureau NFP ($3.6m) and Partnership Inc ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 25% of the total. Compensation of current officers, directors and key employees was $505k (6.9% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $42.0m against liabilities of $1.3m, net assets of $40.7m. It reported 51 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.