Honolulu Museum of Art

Analysis

Honolulu Museum of Art is a registered charity in United States, based in Honolulu, HI. It received its IRS tax-exemption ruling in September 1927, 99 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 June 2023, Honolulu Museum of Art reported income of $11.6m and spending of $17.0m, spending 147% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $17.3m to $11.6m (-33%), an average of -9.5% a year. The sharpest change came in the year to June 2022, when income rose by 171%. Over the whole period it spent 81% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Honolulu Museum of Art sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within HI. Charities of a similar size with the same main cause include Magic House ($11.6m), B & O Railroad Museum ($11.6m) and National Infantry Museum Foundation Inc ($11.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $602k (3.5% of expenses). Other salaries and wages came to $6.9m. At year end it held assets of $123.9m against liabilities of $9.3m, net assets of $114.5m. It reported 194 employees.