Utah Museum of Contemporary Art

Analysis

Utah Museum of Contemporary Art is a registered charity in United States, based in Salt Lake Cty, UT. It received its IRS tax-exemption ruling in February 1939, 87 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 June 2023, Utah Museum of Contemporary Art reported income of $1.4m and spending of $946k, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $870k to $1.4m (+63%), an average of +13% a year. The sharpest change came in the year to June 2021, when income rose by 56%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Utah Museum of Contemporary Art sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 81st percentile within UT. Charities of a similar size with the same main cause include Craft Alliance ($1.4m), Jefferson Educational Society of Erie ($1.4m) and Plantrician Project ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $113k (12% of expenses). Other salaries and wages came to $366k. At year end it held assets of $2.0m against liabilities of $251k, net assets of $1.8m. It reported 18 employees.