The Sherman Museum

Analysis

The Sherman Museum is a registered charity in United States, based in Sherman, TX. It received its IRS tax-exemption ruling in February 1977, 49 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, The Sherman Museum reported income of $130k and spending of $152k, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $145k to $130k (-10.0%), an average of -2.6% a year. The sharpest change came in the year to December 2020, when income dropped by 43%. Over the whole period it spent 122% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Sherman Museum sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 47th percentile within TX. Charities of a similar size with the same main cause include The 42nd Street Workshop Inc ($130k), Tallahassee Youth Orchestras Inc ($130k) and Golden Valley Music Society Inc ($130k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $76k (50% of expenses). At year end it held assets of $485k against liabilities of $38, net assets of $485k. It reported 4 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.