Hunter Museum of Art

Analysis

Hunter Museum of Art is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in March 1988, 38 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 May 2023, Hunter Museum of Art reported income of $3.2m and spending of $4.8m, spending 150% of what it took in. Across the 4 years on record, from May 2019 to May 2023, income fell from $3.6m to $3.2m (-11%), an average of -4.0% a year. The sharpest change came in the year to May 2022, when income rose by 174%. Over the whole period it spent 116% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hunter Museum of Art sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within TN. Charities of a similar size with the same main cause include Fairfield Theatre Company Inc ($3.2m), Corporation of Yaddo ($3.2m) and Foundation for Independent Artists Inc ($3.2m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 38% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $239k (5.0% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $43.3m against liabilities of $2.7m, net assets of $40.6m. It reported 96 employees.