San Luis Obispo Museum of Art

Analysis

San Luis Obispo Museum of Art is a registered charity in United States, based in SN Luis Obisp, CA. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending May 2024, San Luis Obispo Museum of Art reported income of $712k and spending of $783k, spending 110% of what it took in. Across the 6 years on record, from May 2019 to May 2024, income fell from $811k to $712k (-12%), an average of -2.6% a year. The sharpest change came in the year to May 2024, when income dropped by 16%. 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, San Luis Obispo Museum of Art sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within CA. Charities of a similar size with the same main cause include Bearded Ladies Cabaret ($712k), Lincoln Community Playhouse Inc ($713k) and Redux Contemporary Art Center ($711k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 93% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $134k (17% of expenses). Other salaries and wages came to $259k. At year end it held assets of $786k against liabilities of $82k, net assets of $703k. It reported 10 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.