Old Dominion University Museum Foundation

Analysis

Old Dominion University Museum Foundation is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in April 2017, 9 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 (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Old Dominion University Museum Foundation reported income of $725k and spending of $1.2m, spending 162% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $1.4m to $725k (-47%), an average of -19% a year. The sharpest change came in the year to June 2022, when income rose by 410%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Old Dominion University Museum Foundation sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within VA. Charities of a similar size with the same main cause include Next Stage Arts Project Incorporated ($725k), Magical Theatre Company ($725k) and Robert H Jackson Center Inc ($724k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $7.9m against liabilities of $93k, net assets of $7.8m.