Oklahoma City Museum of Art

Analysis

Oklahoma City Museum of Art is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in December 1946, 80 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 June 2024, Oklahoma City Museum of Art reported income of $5.7m and spending of $7.0m, spending 124% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income fell from $5.9m to $5.7m (-2.9%), an average of -0.6% a year. The sharpest change came in the year to June 2021, when income rose by 83%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Oklahoma City Museum of Art sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within OK. Charities of a similar size with the same main cause include Colorado Ballet Foundation ($5.7m), Mindbuilders Creative Arts Inc ($5.7m) and Bellingrath-Morse Foundation ($5.7m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 73% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $332k (4.7% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $47.8m against liabilities of $923k, net assets of $46.9m. It reported 98 employees.