Seattle Art Museum

Analysis

Seattle Art Museum is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in July 1934, 92 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 June 2023, Seattle Art Museum reported income of $30.0m and spending of $37.1m, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $33.3m to $30.0m (-10.0%), an average of -2.6% a year. The sharpest change came in the year to June 2022, when income rose by 98%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Seattle Art Museum sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within WA. Charities of a similar size with the same main cause include Laurel Lake Retirement Community Inc ($29.9m), TMT International Observatory LLC ($30.1m) and Ohio History Connection ($29.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $1.3m (3.5% of expenses). Other salaries and wages came to $13.9m. It paid $283k in professional fundraising fees. At year end it held assets of $418.4m against liabilities of $44.2m, net assets of $374.2m. It reported 380 employees.