Royal Ontario Museum

Analysis

Royal Ontario Museum is a registered charity in United States, based in Canada. It received its IRS tax-exemption ruling in January 1978, 48 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).

In the financial year ending March 2023, Royal Ontario Museum reported income of $60.7m and spending of $64.7m, spending 107% of what it took in. Across the 4 years on record, from March 2020 to March 2023, income grew from $58.2m to $60.7m (+4.2%), an average of +1.4% a year. The sharpest change came in the year to March 2022, when income rose by 25%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Royal Ontario Museum sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile. Charities of a similar size with the same main cause include Shed NYC Inc ($60.6m), Walker Art Center Inc ($60.7m) and Global Poverty Project Inc ($60.6m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $2.6m (4.1% of expenses). Other salaries and wages came to $22.2m. At year end it held assets of $152.5m against liabilities of $189.7m, net assets of -$37.1m. It reported 614 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.