Museum of Texas Tech University Association

Analysis

Museum of Texas Tech University Association is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in April 1955, 71 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 August 2023, Museum of Texas Tech University Association reported income of $508k and spending of $543k, spending 107% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $363k to $508k (+40%), an average of +8.8% a year. The sharpest change came in the year to August 2022, when income dropped by 108%. Over the whole period it spent 135% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of Texas Tech University Association sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include Haitian American Museum of Chicago ($508k), Stoutsburg Sourland African American Museum NP ($508k) and Headley-Whitney Museum Inc ($508k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 45% and program service revenue 40% of the total. Other salaries and wages came to $127k. At year end it held assets of $5.7m against liabilities of $17k, net assets of $5.7m. It reported 9 employees.