Fort Worth Modern Art Museum Assoc

Analysis

Fort Worth Modern Art Museum Assoc is a registered charity in United States, based in Fort Worth, TX. It received its IRS tax-exemption ruling in March 1990, 36 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Fort Worth Modern Art Museum Assoc reported income of $90k and spending of $120k, spending 134% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $120k to $90k (-25%), an average of -6.9% a year. The sharpest change came in the year to June 2021, when income rose by 23%. Over the whole period it spent 121% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fort Worth Modern Art Museum Assoc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 36th percentile within TX. Charities of a similar size with the same main cause include Fannie Lou Hamer Institute of Advocacy & Social Action ($90k), Honk ($90k) and David Wojnarowicz Foundation Inc ($90k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $479k against liabilities of $18k, net assets of $461k.

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.