Owensboro Museum of Fine Art Foundation Inc

Analysis

Owensboro Museum of Fine Art Foundation Inc is a registered charity in United States, based in Owensboro, KY. It received its IRS tax-exemption ruling in May 1996, 30 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Owensboro Museum of Fine Art Foundation Inc reported income of $1.4m and spending of $352k, leaving 76% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $247k to $1.4m (+487%), an average of +56% a year. The sharpest change came in the year to June 2020, when income rose by 74%. Over the whole period it spent 62% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Owensboro Museum of Fine Art Foundation Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 84th percentile within KY. Charities of a similar size with the same main cause include Hellfighters International ($1.4m), Greer Foundation ($1.4m) and Givemn ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $21k (5.9% of expenses). Other salaries and wages came to $44k. At year end it held assets of $7.2m against liabilities of $246k, net assets of $7.0m.