Museum of Fine Arts Houston

Analysis

Museum of Fine Arts Houston is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 1956, 70 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 2023, Museum of Fine Arts Houston reported income of $148.0m and spending of $121.3m, spending 82% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $191.9m to $148.0m (-23%), an average of -6.3% a year. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of Fine Arts Houston sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within TX. Charities of a similar size with the same main cause include Friends of United Hatzalah Inc ($144.9m), Crystal Bridges Museum of American Art Inc ($152.1m) and Greater Washington Educational Telecommunications Association Inc ($141.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 23% and program service revenue 7.0% of the total. Compensation of current officers, directors and key employees was $3.5m (2.9% of expenses). Other salaries and wages came to $31.5m. It paid $42k in professional fundraising fees. At year end it held assets of $2.18bn against liabilities of $139.8m, net assets of $2.04bn. It reported 792 employees.