Aspen Art Museum

Analysis

Aspen Art Museum is a registered charity in United States, based in Aspen, CO. It received its IRS tax-exemption ruling in April 1978, 48 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 September 2023, Aspen Art Museum reported income of $11.1m and spending of $11.1m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $7.0m to $11.1m (+60%), an average of +12% a year. The sharpest change came in the year to September 2021, when income rose by 63%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Aspen Art Museum sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 96th percentile within CO. Charities of a similar size with the same main cause include State Theatre Regional Arts Center at New Brunswick Inc ($11.1m), 19th News ($11.2m) and Greater Austin Performing Arts Center ($11.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 86% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $866k (7.8% of expenses). Other salaries and wages came to $3.1m. At year end it held assets of $42.0m against liabilities of $2.8m, net assets of $39.2m. It reported 114 employees.