The Hermitage Museum and Gardens

Analysis

The Hermitage Museum and Gardens is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in December 2016, 10 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 December 2023, The Hermitage Museum and Gardens reported income of $2.4m and spending of $1.9m, leaving 20% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $2.4m (+64%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 109%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Hermitage Museum and Gardens sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Weinberg Center for the Arts Inc ($2.4m), Midwest Clinic ($2.4m) and Fonner Park Exposition and Events Center Inc ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $146k (7.7% of expenses). Other salaries and wages came to $718k. At year end it held assets of $6.0m against liabilities of $2.5m, net assets of $3.6m. It reported 34 employees.