Ormond Memorial Art Museum Inc

Analysis

Ormond Memorial Art Museum Inc is a registered charity in United States, based in Ormond Beach, FL. It received its IRS tax-exemption ruling in October 1963, 63 years ago. 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 September 2023, Ormond Memorial Art Museum Inc reported income of $689k and spending of $652k, spending 95% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $410k to $689k (+68%), an average of +14% a year. The sharpest change came in the year to September 2020, when income rose by 571%. Over the whole period it spent 32% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ormond Memorial Art Museum Inc sits at the 73rd percentile: it is larger than about 73% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 77th percentile within FL. Charities of a similar size with the same main cause include Tarrytown Volunteer Ambulance Corps ($688k), Garden City Rescue Mission and Life Development Center Inc ($689k) and Four Seasons Villas Inc ($688k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 72% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $72k (11% of expenses). Other salaries and wages came to $212k. At year end it held assets of $5.7m against liabilities of $13k, net assets of $5.6m. It reported 12 employees.