San Jose Museum of Quilts & Textiles

Analysis

San Jose Museum of Quilts & Textiles is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in September 1991, 35 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 June 2023, San Jose Museum of Quilts & Textiles reported income of $641k and spending of $806k, spending 126% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $801k to $641k (-20%), an average of -5.4% a year. The sharpest change came in the year to June 2022, when income rose by 22%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, San Jose Museum of Quilts & Textiles sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 75th percentile within CA. Charities of a similar size with the same main cause include Bath & Tennis Historic Building Preservation Foundation Inc ($641k), Jackson Hole Community Radio Incorporated ($641k) and Congo Square Theatre Company ($641k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 4.1% of the total. Compensation of current officers, directors and key employees was $151k (19% of expenses). Other salaries and wages came to $157k. It paid $27k in professional fundraising fees. At year end it held assets of $3.3m against liabilities of $740k, net assets of $2.6m. It reported 20 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.