American Banjo Museum Inc

Analysis

American Banjo Museum Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in February 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 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 December 2023, American Banjo Museum Inc reported income of $899k and spending of $731k, spending 81% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $662k to $899k (+36%), an average of +7.9% a year. The sharpest change came in the year to December 2023, when income rose by 233%. 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, American Banjo Museum Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within OK. Charities of a similar size with the same main cause include Jabberwocky Theatre Company ($899k), Darien Arts Center Inc ($899k) and Reagle Music Theatre of Greater Boston Inc ($899k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 59% and program service revenue 5.7% of the total. Compensation of current officers, directors and key employees was $86k (12% of expenses). Other salaries and wages came to $163k. At year end it held assets of $7.4m against liabilities of $3,744, net assets of $7.4m. It reported 6 employees.