Icon Museum And Study Center Inc
Icon Museum maintains strong asset base despite fluctuating revenues and zero officer compensation.
EIN: 201992304 · Clinton, MA · NTEE: T23 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.5M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $25 |
| Net Assets | $24.5M |
| Transparency Score | 90/100 |
Is Icon Museum And Study Center Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Icon Museum And Study Center Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Icon Museum And Study Center Inc
Icon Museum And Study Center Inc (EIN: 201992304) is a nonprofit organization based in Clinton, MA, classified under NTEE code T23. The organization reported total revenue of $1.8M and total assets of $25.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Icon Museum And Study Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Icon Museum And Study Center Inc is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -12.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $924K |
| Total Expenses | $1.5M |
| Surplus / Deficit | $-618,901 |
| Total Assets | $24.6M |
| Total Liabilities | $34K |
| Net Assets | $24.5M |
| Operating Margin | -67.0% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 190.9 months |
Financial Health Grade: B
In 2023, Icon Museum And Study Center Inc reported a deficit of $619K with expenses exceeding revenue, holds 190.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Icon Museum And Study Center Inc's revenue has declined at a compound annual growth rate (CAGR) of -12.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -93.8% | -1.8% | +4.6% |
| 2022 | +377.0% | +13.4% | +84.6% |
| 2021 | +116.7% | +3.7% | +18.0% |
| 2020 | +36.2% | -13.5% | +1.6% |
| 2019 | -32.8% | -5.8% | -6.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Icon Museum And Study Center Inc with a Mission Score of 90 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, Icon Museum And Study Center 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 $619K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly commendable for a nonprofit of its size with assets exceeding $25 million.
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 Icon Museum And Study Center Inc's IRS 990 filings:
- Significant revenue volatility, with a drop from $14.7M in 2022 to $0.9M in 2023, which could impact future operational planning if not managed effectively.
- Increase in liabilities to $33,519 in 2023, which, while small, warrants attention given the concurrent revenue decline.
Strengths
The following positive indicators were identified for Icon Museum And Study Center Inc:
- Strong and growing asset base, reaching over $25 million, providing long-term financial security.
- Consistent reporting of 0% officer compensation, demonstrating excellent financial transparency and dedication to mission.
- Relatively stable expense management despite revenue fluctuations, indicating good operational control.
- Long history of IRS 990 filings (10 filings), suggesting consistent compliance and transparency.
Frequently Asked Questions about Icon Museum And Study Center Inc
Is Icon Museum And Study Center Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Icon Museum And Study Center Inc (EIN: 201992304) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Icon Museum And Study Center Inc spend its money?
Icon Museum And Study Center Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Icon Museum And Study Center Inc tax-deductible?
Icon Museum And Study Center Inc is registered as a tax-exempt nonprofit (EIN: 201992304). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Icon Museum And Study Center Inc CEO make?
Icon Museum And Study Center Inc's highest-compensated officer earns $25 annually. The organization reported $1.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Icon Museum And Study Center Inc's spending goes to programs?
Icon Museum And Study Center Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Icon Museum And Study Center Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Icon Museum And Study Center Inc is above average for NTEE category T23 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Icon Museum And Study Center Inc located?
Icon Museum And Study Center Inc is headquartered in Clinton, Massachusetts and files with the IRS under EIN 201992304. It is classified under NTEE code T23.
How many years of IRS 990 filings does Icon Museum And Study Center Inc have?
Icon Museum And Study Center Inc has 10 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 $1.8M in total revenue.
Is Icon Museum And Study Center Inc financially stable?
Yes, the organization appears financially stable, primarily due to its substantial and growing asset base, which reached $25,520,601. While revenue has fluctuated, expenses have been managed consistently, and the organization has a history of accumulating significant assets.
How does the organization manage executive compensation?
The Icon Museum And Study Center Inc reports 0% officer compensation in all available filings, indicating a strong commitment to directing funds towards its mission rather than executive salaries.
What caused the significant revenue spike in 2022?
The filing data shows a revenue spike to $14,789,488 in 2022. Without further details from the 990 form, it's difficult to pinpoint the exact cause, but it could be attributed to a major donation, a successful capital campaign, or a significant grant.
Why did liabilities increase in 2023?
Liabilities increased to $33,519 in 2023 from $80,145 in 2022. While still a small percentage of assets, this increase, coupled with a revenue decrease, suggests a need to review the specific nature of these liabilities in the full 990 filing.
Filing History
IRS 990 filing history for Icon Museum And Study Center Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Icon Museum And Study Center Inc's revenue has declined by 79.3%, moving from $4.5M to $924K. Total assets increased by 60.1% over the same period, from $15.3M to $24.6M. Total functional expenses rose by 11.5%, from $1.4M to $1.5M. In its most recent filing year (2023), Icon Museum And Study Center Inc reported a deficit of $619K, with expenses exceeding revenue. The organization holds $34K in liabilities against $24.6M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $24.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $924K | $1.5M | $24.6M | $34K | — | View 990 |
| 2022 | $14.8M | $1.6M | $23.5M | $80K | — | View 990 |
| 2021 | $3.1M | $1.4M | $12.7M | $39K | — | View 990 |
| 2020 | $1.4M | $1.3M | $10.8M | $36K | — | — |
| 2019 | $1.1M | $1.5M | $10.6M | $104K | — | View 990 |
| 2015 | $1.6M | $1.6M | $11.3M | $41K | — | View 990 |
| 2014 | $1.9M | $1.9M | $23.7M | $121K | — | View 990 |
| 2013 | $9.5M | $1.8M | $23.7M | $78K | — | View 990 |
| 2012 | $2.2M | $1.6M | $15.9M | $18K | — | View 990 |
| 2011 | $4.5M | $1.4M | $15.3M | $15K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $924K, expenses of $1.5M, and assets of $24.6M (revenue -93.8% year-over-year).
- 2022: Revenue of $14.8M, expenses of $1.6M, and assets of $23.5M (revenue +377.0% year-over-year).
- 2021: Revenue of $3.1M, expenses of $1.4M, and assets of $12.7M (revenue +116.7% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.3M, and assets of $10.8M (revenue +36.2% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.5M, and assets of $10.6M (revenue -32.8% year-over-year).
- 2015: Revenue of $1.6M, expenses of $1.6M, and assets of $11.3M (revenue -16.9% year-over-year).
- 2014: Revenue of $1.9M, expenses of $1.9M, and assets of $23.7M (revenue -80.2% year-over-year).
- 2013: Revenue of $9.5M, expenses of $1.8M, and assets of $23.7M (revenue +341.0% year-over-year).
- 2012: Revenue of $2.2M, expenses of $1.6M, and assets of $15.9M (revenue -51.8% year-over-year).
- 2011: Revenue of $4.5M, expenses of $1.4M, and assets of $15.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Icon Museum And Study Center Inc:
Data Sources and Methodology
This transparency report for Icon Museum And Study Center 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.