Armand Hammer Museum of Art and Cultural Center Inc

Analysis

Armand Hammer Museum of Art and Cultural Center Inc is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in November 2017, 9 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 supporting organisation (type iii functionally integrated) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Armand Hammer Museum of Art and Cultural Center Inc reported income of $28.7m and spending of $37.0m, spending 129% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $38.1m to $28.7m (-25%), an average of -6.8% a year. The sharpest change came in the year to June 2022, when income rose by 35%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Armand Hammer Museum of Art and Cultural Center Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CA. Charities of a similar size with the same main cause include Collings Foundation Inc ($28.4m), Destination Crenshaw ($28.7m) and Phillip and Patricia Frost Museum of Science Inc ($28.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 79% and program service revenue 2.4% of the total. Compensation of current officers, directors and key employees was $3.0m (8.2% of expenses). Other salaries and wages came to $8.3m. At year end it held assets of $299.6m against liabilities of $14.0m, net assets of $285.6m. It reported 512 employees.