Mississippi Museum of Art Inc

Analysis

Mississippi Museum of Art Inc is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in September 1952, 74 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Mississippi Museum of Art Inc reported income of $3.7m and spending of $4.8m, spending 131% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.3m to $3.7m (-14%), an average of -3.8% a year. The sharpest change came in the year to June 2021, when income rose by 51%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mississippi Museum of Art Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within MS. Charities of a similar size with the same main cause include American Theatre Wing Inc ($3.7m), University Industry Demonstration Partnership Inc ($3.7m) and Photographic Society of America Endowment Fund 1 ($3.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 83% and program service revenue 3.5% of the total. Compensation of current officers, directors and key employees was $309k (6.4% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $2.2m against liabilities of $4.1m, net assets of -$1.9m. It reported 60 employees.