Long Beach Museum of Art Foundation

Analysis

Long Beach Museum of Art Foundation is a registered charity in United States, based in Long Beach, CA. It received its IRS tax-exemption ruling in April 1966, 60 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 September 2023, Long Beach Museum of Art Foundation reported income of $2.3m and spending of $2.4m, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.9m to $2.3m (+24%), an average of +5.6% a year. The sharpest change came in the year to September 2021, when income rose by 29%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Long Beach Museum of Art Foundation 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 88th percentile within CA. Charities of a similar size with the same main cause include Cache Valley Center for the Arts ($2.3m), John & Mable Ringling Museum of Art Foundation ($2.3m) and World Music Inc ($2.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 71% and program service revenue 5.9% of the total. Compensation of current officers, directors and key employees was $255k (11% of expenses). Other salaries and wages came to $973k. At year end it held assets of $6.4m against liabilities of $908k, net assets of $5.5m. It reported 81 employees.