Riverside Art Museum

Analysis

Riverside Art Museum is a registered charity in United States, based in Riverside, CA. It received its IRS tax-exemption ruling in April 1959, 67 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 August 2023, Riverside Art Museum reported income of $4.5m and spending of $4.8m, spending 108% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.9m to $4.5m (+54%), an average of +12% a year. The sharpest change came in the year to August 2022, when income rose by 82%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Riverside Art 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 91st percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Muse-Ique ($4.5m), Entertainment Revue Hits Foundation Inc ($4.5m) and Battery Innovation Center Institute Inc ($4.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 28% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $176k (3.6% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $5.8m against liabilities of $486k, net assets of $5.3m. It reported 54 employees.