Farmers Museum Inc
Farmers Museum Inc. shows volatile annual revenues but maintains substantial assets and reports no officer compensation.
EIN: 150547367 · Cooperstown, NY · NTEE: A540 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7.4M |
| Total Expenses | $5.3M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $80 |
| Net Assets | $75.3M |
| Transparency Score | 85/100 |
Is Farmers Museum Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Farmers Museum Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Farmers Museum Inc
Farmers Museum Inc (EIN: 150547367) is a nonprofit organization based in Cooperstown, NY, classified under NTEE code A540. The organization reported total revenue of $7.4M and total assets of $78.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Farmers Museum Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Farmers Museum Inc is a mid-size nonprofit that has been operating for 82 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $5.3M |
| Surplus / Deficit | $-2,637,313 |
| Total Assets | $75.8M |
| Total Liabilities | $525K |
| Net Assets | $75.3M |
| Operating Margin | -98.6% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 171.2 months |
Financial Health Grade: B
In 2023, Farmers Museum Inc reported a deficit of $2.6M with expenses exceeding revenue, holds 171.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Farmers Museum Inc's revenue has declined at a compound annual growth rate (CAGR) of -4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -74.8% | +12.6% | +3.4% |
| 2022 | +119.2% | +23.3% | -10.9% |
| 2021 | +21.2% | +4.4% | +9.8% |
| 2020 | +29.8% | -20.9% | +2.5% |
| 2019 | -49.9% | -1.7% | +10.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1944 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Farmers Museum Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Farmers Museum Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is highly unusual for an organization of its size with assets nearing $80 million and annual expenses often exceeding $4 million, suggesting either a fully volunteer leadership or compensation being reported under other categories, though the former is more likely given the consistent reporting.
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 Farmers Museum Inc's IRS 990 filings:
- Significant year-over-year revenue and expense volatility, making financial planning potentially challenging.
- Expenses exceeding revenue in multiple recent years (e.g., 2023, 2019, 2016), indicating reliance on reserves or other funding sources to cover operational costs.
Strengths
The following positive indicators were identified for Farmers Museum Inc:
- Consistently reports 0% officer compensation, indicating high efficiency in leadership costs.
- Maintains a substantial and growing asset base (e.g., $78,690,086 latest assets), providing long-term financial security.
- Low liabilities relative to assets, indicating strong balance sheet health.
- Strong program focus implied by the NTEE code (A540 - Museums, Historical Societies, etc.) and the lack of executive compensation freeing up funds for mission-related activities.
Frequently Asked Questions about Farmers Museum Inc
Is Farmers Museum Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Farmers Museum Inc (EIN: 150547367) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Farmers Museum Inc spend its money?
Farmers Museum Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Farmers Museum Inc tax-deductible?
Farmers Museum Inc is registered as a tax-exempt nonprofit (EIN: 150547367). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Farmers Museum Inc CEO make?
Farmers Museum Inc's highest-compensated officer earns $80 annually. The organization reported $7.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Farmers Museum Inc's spending goes to programs?
Farmers Museum Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Farmers Museum Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Farmers Museum Inc is above average for NTEE category A540 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Farmers Museum Inc located?
Farmers Museum Inc is headquartered in Cooperstown, New York and files with the IRS under EIN 150547367. It is classified under NTEE code A540.
How many years of IRS 990 filings does Farmers Museum Inc have?
Farmers Museum Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $7.4M in total revenue.
Is Farmers Museum Inc. financially stable?
While the organization has substantial assets (e.g., $75,807,776 in 2023) and low liabilities, its annual revenue and expenses show significant year-to-year volatility, with some years experiencing substantial deficits (e.g., 2023: $2.6M revenue vs. $5.3M expenses) and others large surpluses (e.g., 2022: $10.6M revenue vs. $4.7M expenses). This suggests a reliance on fluctuating funding, but its strong asset base provides a buffer.
How does Farmers Museum Inc. manage executive compensation?
The organization consistently reports 0% officer compensation in its IRS 990 filings, which is a strong indicator that its leadership may be entirely volunteer-based or compensated through non-officer roles, contributing to efficient use of funds.
What is the trend in the organization's assets?
Farmers Museum Inc. has maintained a robust and growing asset base, increasing from $63,698,339 in 2015 to $75,807,776 in 2023, demonstrating strong long-term financial management and investment.
Filing History
IRS 990 filing history for Farmers Museum Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Farmers Museum Inc's revenue has declined by 39.6%, moving from $4.4M to $2.7M. Total assets increased by 49.6% over the same period, from $50.7M to $75.8M. Total functional expenses rose by 21.2%, from $4.4M to $5.3M. In its most recent filing year (2023), Farmers Museum Inc reported a deficit of $2.6M, with expenses exceeding revenue. The organization holds $525K in liabilities against $75.8M in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $75.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $5.3M | $75.8M | $525K | — | — |
| 2022 | $10.6M | $4.7M | $73.3M | $395K | — | View 990 |
| 2021 | $4.8M | $3.8M | $82.3M | $508K | — | View 990 |
| 2020 | $4.0M | $3.7M | $74.9M | $443K | — | View 990 |
| 2019 | $3.1M | $4.6M | $73.1M | $228K | — | View 990 |
| 2018 | $6.2M | $4.7M | $66.4M | $354K | — | View 990 |
| 2017 | $8.6M | $4.4M | $71.5M | $524K | — | — |
| 2016 | $2.6M | $4.4M | $68.0M | $395K | — | View 990 |
| 2015 | $5.8M | $4.4M | $63.7M | $451K | — | View 990 |
| 2014 | $12.0M | $4.2M | $67.7M | $383K | — | View 990 |
| 2013 | $10.5M | $4.2M | $70.7M | $434K | — | View 990 |
| 2012 | $2.5M | $4.2M | $54.7M | $325K | — | View 990 |
| 2011 | $4.4M | $4.4M | $50.7M | $226K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $5.3M, and assets of $75.8M (revenue -74.8% year-over-year).
- 2022: Revenue of $10.6M, expenses of $4.7M, and assets of $73.3M (revenue +119.2% year-over-year).
- 2021: Revenue of $4.8M, expenses of $3.8M, and assets of $82.3M (revenue +21.2% year-over-year).
- 2020: Revenue of $4.0M, expenses of $3.7M, and assets of $74.9M (revenue +29.8% year-over-year).
- 2019: Revenue of $3.1M, expenses of $4.6M, and assets of $73.1M (revenue -49.9% year-over-year).
- 2018: Revenue of $6.2M, expenses of $4.7M, and assets of $66.4M (revenue -28.7% year-over-year).
- 2017: Revenue of $8.6M, expenses of $4.4M, and assets of $71.5M (revenue +233.3% year-over-year).
- 2016: Revenue of $2.6M, expenses of $4.4M, and assets of $68.0M (revenue -55.3% year-over-year).
- 2015: Revenue of $5.8M, expenses of $4.4M, and assets of $63.7M (revenue -51.6% year-over-year).
- 2014: Revenue of $12.0M, expenses of $4.2M, and assets of $67.7M (revenue +13.5% year-over-year).
- 2013: Revenue of $10.5M, expenses of $4.2M, and assets of $70.7M (revenue +315.0% year-over-year).
- 2012: Revenue of $2.5M, expenses of $4.2M, and assets of $54.7M (revenue -42.7% year-over-year).
- 2011: Revenue of $4.4M, expenses of $4.4M, and assets of $50.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Farmers Museum Inc:
Data Sources and Methodology
This transparency report for Farmers Museum Inc 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.