Tacoma Art Museum Tacoma Wa

Analysis

Tacoma Art Museum Tacoma Wa is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in November 1964, 62 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, Tacoma Art Museum Tacoma Wa reported income of $1.3m and spending of $6.2m, spending 491% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.3m to $1.3m (-70%), an average of -26% a year. The sharpest change came in the year to June 2023, when income dropped by 84%. Over the whole period it spent 133% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Tacoma Art Museum Tacoma Wa sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 82nd percentile within WA. Charities of a similar size with the same main cause include Arizona Health Information Network Incorporated ($1.3m), Encore Stage & Studio Inc ($1.3m) and Harvard Business School Student Association Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 219% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $310k (5.0% of expenses). Other salaries and wages came to $2.1m. It paid $42k in professional fundraising fees. At year end it held assets of $58.9m against liabilities of $273k, net assets of $58.7m. It reported 66 employees.