Michelson Museum of Art

Analysis

Michelson Museum of Art is a registered charity in United States, based in Marshall, TX. It received its IRS tax-exemption ruling in August 1985, 41 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 August 2023, Michelson Museum of Art reported income of $330k and spending of $313k, spending 95% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $382k to $330k (-14%), an average of -3.6% a year. The sharpest change came in the year to August 2021, when income rose by 484%. Over the whole period it spent 46% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Michelson Museum of Art sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 68th percentile within TX. Charities of a similar size with the same main cause include Newport Symphony Orchestra ($330k), Berkshire Civic Ballet Inc ($330k) and West Falls Center for the Arts ($330k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 48% of the total. Compensation of current officers, directors and key employees was $54k (17% of expenses). Other salaries and wages came to $99k. At year end it held assets of $3.1m against liabilities of $0, net assets of $3.1m. It reported 6 employees.