Lemay-Americas Car Museum

Analysis

Lemay-Americas Car Museum is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in March 1998, 28 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 December 2023, Lemay-Americas Car Museum reported income of $5.1m and spending of $5.3m, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.5m to $5.1m (+45%), an average of +9.7% a year. The sharpest change came in the year to December 2023, when income rose by 31%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lemay-Americas Car Museum sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within WA. Charities of a similar size with the same main cause include Institute of Navigation ($5.1m), Westcoast Black Theatre Troupe of Florida Inc ($5.1m) and Center for Curatorial Leadership ($5.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 58% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $307k (5.8% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $51.2m against liabilities of $7.5m, net assets of $43.7m. It reported 61 employees.