Carriage Museum Of America
Carriage Museum Of America faces significant financial deficit and declining assets.
EIN: 10356732 · Lexington, KY · NTEE: A540 · Updated: 2026-03-28
Is Carriage Museum Of America Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carriage Museum Of America directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Carriage Museum Of America
Carriage Museum Of America (EIN: 10356732) is a nonprofit organization based in Lexington, KY, classified under NTEE code A540. The organization reported total revenue of $331K and total assets of $977K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carriage Museum Of America's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Carriage Museum Of America with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Carriage Museum Of America allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation is consistently reported at 0%, indicating that the organization's leadership is either volunteer-based or compensated through other means not classified as officer compensation, which is a positive sign for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Carriage Museum Of America's IRS 990 filings:
- Significant and recurring operating deficits, notably $321,102 in 202312.
- Substantial decline in total assets from $1,537,659 in 202112 to $977,192 in 202312.
- Highly volatile revenue streams, making financial planning challenging.
- Expenses in 202312 ($387,517) are disproportionately high compared to revenue ($66,415).
Strengths
The following positive indicators were identified for Carriage Museum Of America:
- Consistent reporting of 0% officer compensation, indicating efficient use of funds at the executive level.
- Long filing history (14 filings) suggests a commitment to transparency over time.
Frequently Asked Questions about Carriage Museum Of America
Is Carriage Museum Of America a legitimate charity?
Based on AI analysis of IRS 990 filings, Carriage Museum Of America (EIN: 10356732) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does Carriage Museum Of America spend its money?
Carriage Museum Of America directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Carriage Museum Of America tax-deductible?
Carriage Museum Of America is registered as a tax-exempt nonprofit (EIN: 10356732). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Carriage Museum Of America financially sustainable?
The organization's financial sustainability is questionable given the substantial deficit of $321,102 in 202312 (Expenses $387,517 - Revenue $66,415) and the consistent decline in assets from $1,537,659 in 202112 to $977,192 in 202312.
What caused the large expense increase in 202312?
The 202312 filing shows expenses of $387,517, which is significantly higher than previous years (e.g., $72,939 in 202212, $82,340 in 202112). The specific reasons for this dramatic increase are not detailed in the provided summary data and would require reviewing the full 990 form.
Why are assets declining so rapidly?
Assets have decreased from $1,537,659 in 202112 to $977,192 in 202312. This decline is likely due to the organization operating at a deficit, drawing down its reserves to cover expenses that exceed its revenue.
Filing History
IRS 990 filing history for Carriage Museum Of America showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Carriage Museum Of America's revenue has grown by 33.9%, moving from $50K to $66K. Total assets decreased by 10.2% over the same period, from $1.1M to $977K. Total functional expenses rose by 905.4%, from $39K to $388K. In its most recent filing year (2023), Carriage Museum Of America reported a deficit of $321K, with expenses exceeding revenue. The organization holds $4K in liabilities against $977K in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $973K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $66K | $388K | $977K | $4K | — | — |
| 2022 | $107K | $73K | $1.3M | $2K | — | View 990 |
| 2021 | $56K | $82K | $1.5M | $5K | — | View 990 |
| 2020 | $58K | $64K | $1.5M | $2K | — | View 990 |
| 2019 | $344K | $55K | $1.4M | $405 | — | View 990 |
| 2018 | $62K | $51K | $1.1M | $400 | — | View 990 |
| 2017 | $68K | $55K | $1.2M | $400 | — | View 990 |
| 2016 | $-25,388 | $45K | $1.2M | $3 | — | View 990 |
| 2015 | $50K | $45K | $1.2M | $3 | — | View 990 |
| 2014 | $87K | $50K | $1.2M | $6 | — | View 990 |
| 2013 | $76K | $34K | $1.2M | $3 | — | View 990 |
| 2012 | $40K | $39K | $1.1M | $572 | — | View 990 |
| 2011 | $46K | $43K | $1.1M | $572 | — | View 990 |
| 2010 | $50K | $39K | $1.1M | $530 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $66K, expenses of $388K, and assets of $977K (revenue -37.9% year-over-year).
- 2022: Revenue of $107K, expenses of $73K, and assets of $1.3M (revenue +89.9% year-over-year).
- 2021: Revenue of $56K, expenses of $82K, and assets of $1.5M (revenue -2.3% year-over-year).
- 2020: Revenue of $58K, expenses of $64K, and assets of $1.5M (revenue -83.2% year-over-year).
- 2019: Revenue of $344K, expenses of $55K, and assets of $1.4M (revenue +452.0% year-over-year).
- 2018: Revenue of $62K, expenses of $51K, and assets of $1.1M (revenue -8.2% year-over-year).
- 2017: Revenue of $68K, expenses of $55K, and assets of $1.2M.
- 2016: Revenue of $-25,388, expenses of $45K, and assets of $1.2M (revenue -150.9% year-over-year).
- 2015: Revenue of $50K, expenses of $45K, and assets of $1.2M (revenue -42.5% year-over-year).
- 2014: Revenue of $87K, expenses of $50K, and assets of $1.2M (revenue +14.5% year-over-year).
- 2013: Revenue of $76K, expenses of $34K, and assets of $1.2M (revenue +89.8% year-over-year).
- 2012: Revenue of $40K, expenses of $39K, and assets of $1.1M (revenue -12.7% year-over-year).
- 2011: Revenue of $46K, expenses of $43K, and assets of $1.1M (revenue -7.8% year-over-year).
- 2010: Revenue of $50K, expenses of $39K, and assets of $1.1M.
Data Sources and Methodology
This transparency report for Carriage Museum Of America is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.