Lady Lex Museum on the Bay Association

Analysis

Lady Lex Museum on the Bay Association is a registered charity in United States, based in Corp Christi, TX. It received its IRS tax-exemption ruling in April 1992, 34 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 March 2023, Lady Lex Museum on the Bay Association reported income of $10.4m and spending of $11.4m, spending 110% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $5.5m to $10.4m (+89%), an average of +24% a year. The sharpest change came in the year to March 2022, when income rose by 129%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lady Lex Museum on the Bay Association sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within TX. Charities of a similar size with the same main cause include The Da Vinci Discovery Center of Science and Technology ($10.4m), Just Capital Foundation Inc ($10.4m) and Movement Alliance Project ($10.3m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 30% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $354k (3.1% of expenses). Other salaries and wages came to $2.6m. At year end it held assets of $9.9m against liabilities of $438k, net assets of $9.5m. It reported 121 employees.