Knoxville Museum of Art Foundation

Analysis

Knoxville Museum of Art Foundation is a registered charity in United States, based in Knoxville, TN. It received its IRS tax-exemption ruling in September 1998, 28 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Knoxville Museum of Art Foundation reported income of $257k and spending of $282k, spending 110% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $176k to $257k (+46%), an average of +9.9% a year. The sharpest change came in the year to June 2021, when income rose by 92%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Knoxville Museum of Art Foundation sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within TN. Charities of a similar size with the same main cause include Kcucares Foundation ($257k), New Orleans Academy of Ophthalmology Inc ($257k) and Friends of the Halstead Inc ($257k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.4% of the total. At year end it held assets of $6.6m against liabilities of $0, net assets of $6.6m.