Denver Art Museum Inc

Analysis

Denver Art Museum Inc is a registered charity in United States, based in Denver, CO. It received its IRS tax-exemption ruling in August 1935, 91 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, Denver Art Museum Inc reported income of $44.7m and spending of $53.1m, spending 119% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $63.0m to $44.7m (-29%), an average of -8.2% a year. The sharpest change came in the year to September 2021, when income rose by 46%. 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, Denver Art Museum Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CO. Charities of a similar size with the same main cause include Experimental Aircraft Association Inc ($44.6m), The Smith Center for the Performing Arts ($44.8m) and Memphis Brooks Museum of Art Inc ($44.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 81% and program service revenue 8.8% of the total. Compensation of current officers, directors and key employees was $1.1m (2.1% of expenses). Other salaries and wages came to $23.1m. At year end it held assets of $194.6m against liabilities of $7.4m, net assets of $187.2m. It reported 618 employees.