J B Speed Art Museum

Analysis

J B Speed Art Museum is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in November 1935, 91 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 September 2023, J B Speed Art Museum reported income of $13.1m and spending of $15.5m, spending 119% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $8.4m to $13.1m (+55%), an average of +12% a year. The sharpest change came in the year to September 2021, when income rose by 93%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, J B Speed Art Museum sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within KY. Charities of a similar size with the same main cause include School of American Ballet Inc ($13.0m), Historical Society of Western Pennsylvania ($13.1m) and Rock & Roll Hall of Fame Foundation Inc ($13.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 68% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $424k (2.7% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $131.4m against liabilities of $2.5m, net assets of $128.8m. It reported 171 employees.