Palo Alto Museum

Analysis

Palo Alto Museum is a registered charity in United States, based in Palo Alto, CA. It received its IRS tax-exemption ruling in February 2005, 21 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 June 2023, Palo Alto Museum reported income of $2.5m and spending of $206k, leaving 92% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $971k to $2.5m (+159%), an average of +27% a year. The sharpest change came in the year to June 2023, when income rose by 1159%. Over the whole period it spent 32% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palo Alto Museum sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within CA. Charities of a similar size with the same main cause include Italian American Community Center Inc ($2.5m), Albany Symphony Orchestra Inc ($2.5m) and Staten Island Institute of Arts and Sciences ($2.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $74k (36% of expenses). Other salaries and wages came to $25k. At year end it held assets of $14.5m against liabilities of $147k, net assets of $14.4m. It reported 1 employees.