Lea County Museum Inc

Analysis

Lea County Museum Inc is a registered charity in United States, based in Lovington, NM. 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, Lea County Museum Inc reported income of $53k and spending of $73k, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $121k to $53k (-56%), an average of -19% a year. The sharpest change came in the year to December 2023, when income dropped by 55%. 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, Lea County Museum Inc sits at the 23rd percentile: it is larger than about 23% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 17th percentile within NM. Charities of a similar size with the same main cause include Northern Pacific Depot Foundation Inc ($53k), Liberty Community Chorus ($53k) and Okeefe Music Foundation Inc ($53k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $40k (55% of expenses). At year end it held assets of $686k against liabilities of $899, net assets of $685k. It reported 1 employees.