Monterey Museum of Art

Analysis

Monterey Museum of Art is a registered charity in United States, based in Monterey, CA. It received its IRS tax-exemption ruling in May 1963, 63 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, Monterey Museum of Art reported income of $2.1m and spending of $2.7m, spending 127% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.8m to $2.1m (+16%), an average of +3.8% a year. The sharpest change came in the year to June 2020, when income rose by 148%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Monterey Museum of Art sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within CA. Charities of a similar size with the same main cause include Northern Clay Center ($2.1m), Zeitgeist Center for Arts and Community ($2.1m) and Polaris Research Institute Inc ($2.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 3.9% of the total. Compensation of current officers, directors and key employees was $212k (7.8% of expenses). Other salaries and wages came to $1.0m. At year end it held assets of $12.0m against liabilities of $891k, net assets of $11.1m. It reported 28 employees.