Newark Museum Association
Newark Museum Association: Strong Assets, Volatile Revenue, and High Program Spending
EIN: 221487275 · Newark, NJ · NTEE: A500 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $31.4M |
| Total Expenses | $20.1M |
| Program Spending | 80% |
| Net Assets | $60.9M |
| Transparency Score | 85/100 |
Is Newark Museum Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Newark Museum Association directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Newark Museum Association
Newark Museum Association (EIN: 221487275) is a nonprofit organization based in Newark, NJ, classified under NTEE code A500. The organization reported total revenue of $31.4M and total assets of $70.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Newark Museum Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Newark Museum Association is a large nonprofit that has been operating for 99 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $18.2M |
| Total Expenses | $20.1M |
| Surplus / Deficit | $-1,899,703 |
| Total Assets | $65.3M |
| Total Liabilities | $4.4M |
| Net Assets | $60.9M |
| Operating Margin | -10.5% |
| Debt-to-Asset Ratio | 6.7% |
| Months of Reserves | 39.1 months |
Financial Health Grade: B
In 2023, Newark Museum Association reported a deficit of $1.9M with expenses exceeding revenue, holds 39.1 months of operating reserves (strong position), has a debt-to-asset ratio of 6.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Newark Museum Association's revenue has grown at a compound annual growth rate (CAGR) of 0.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +41.1% | -22.1% | +3.0% |
| 2022 | -62.1% | +44.4% | -23.8% |
| 2021 | +189.4% | +17.7% | +29.2% |
| 2020 | -2.9% | -0.8% | +0.9% |
| 2019 | -43.9% | -0.2% | +2.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1927 |
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 Newark Museum Association 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: 80%
- fundraising: 10%
According to IRS 990 filings, Newark Museum Association allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% 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 $1.9M, with expenses exceeding revenue.
- Debt-to-asset ratio: 6.7%.
Executive Compensation Analysis
Executive compensation cannot be assessed without specific compensation data, as the provided financial filings only include aggregated expense figures (x) and do not break down individual salaries.
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 Newark Museum Association's IRS 990 filings:
- Significant year-over-year revenue volatility, with a peak of $33,964,570 in 2021 and a low of $11,736,749 in 2020, which could impact long-term financial stability.
- Expenses exceeded revenue in multiple years (e.g., 2022: revenue $12,872,611 vs. expenses $25,733,529), suggesting reliance on reserves or other funding sources.
Strengths
The following positive indicators were identified for Newark Museum Association:
- Consistently strong asset base, with assets generally above $60 million, indicating robust financial health and capacity.
- Low reported liabilities relative to assets, demonstrating a healthy balance sheet.
- Consistent operation and filing history over many years, suggesting organizational stability and experience.
- Significant total revenue of $31,423,680 and assets of $70,405,406 as of the latest filing, indicating a large and impactful organization.
Frequently Asked Questions about Newark Museum Association
Is Newark Museum Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Newark Museum Association (EIN: 221487275) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Newark Museum Association spend its money?
Newark Museum Association directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Newark Museum Association tax-deductible?
Newark Museum Association is registered as a tax-exempt nonprofit (EIN: 221487275). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Newark Museum Association's spending goes to programs?
Newark Museum Association directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Newark Museum Association compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Newark Museum Association is above average for NTEE category A500 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Newark Museum Association located?
Newark Museum Association is headquartered in Newark, New Jersey and files with the IRS under EIN 221487275. It is classified under NTEE code A500.
How many years of IRS 990 filings does Newark Museum Association have?
Newark Museum Association 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 $31.4M in total revenue.
What does Newark Museum Association do?
Newark Museum Association is a nonprofit organization in the Arts, Culture & Humanities sector, located in Newark, New Jersey. It is classified under NTEE code A500.
How much revenue does Newark Museum Association have?
Newark Museum Association reported total revenue of $31,423,680. Based on 13 IRS 990 filings on record.
What are Newark Museum Association's total assets?
Newark Museum Association holds total assets of $70,405,406 as reported in IRS 990 filings.
Where is Newark Museum Association located?
Newark Museum Association is based in Newark, New Jersey.
What is Newark Museum Association's EIN?
Newark Museum Association's Employer Identification Number (EIN) is 221487275. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Newark Museum Association?
Newark Museum Association is classified under NTEE code A500 (Arts, Culture & Humanities).
Is Newark Museum Association a registered 501(c)(3)?
Yes, Newark Museum Association is recognized as a tax-exempt organization by the IRS. EIN: 221487275.
Does Newark Museum Association file IRS Form 990?
Yes, Newark Museum Association has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Newark Museum Association's revenue in 2023?
In the 202312 filing period, Newark Museum Association reported total revenue of $18,158,765, total expenses of $20,058,468, and net assets of $65,299,415.
Is Newark Museum Association's revenue growing or declining?
Newark Museum Association's revenue is growing. Revenue went from $12,872,611 (202212) to $18,158,765 (202312), a +41.1% change. Based on 13 filings on record.
What is Newark Museum Association's most recent 990 filing?
The most recent IRS Form 990 filing for Newark Museum Association covers tax period 202312. It shows revenue of $18,158,765, expenses of $20,058,468, total assets of $65,299,415, and liabilities of $4,393,740.
How much does Newark Museum Association spend on programs vs administration?
Based on IRS 990 analysis, Newark Museum Association allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Newark Museum Association a trustworthy charity?
Based on AI analysis of IRS 990 data, Newark Museum Association appears trustworthy. Mission Score: 85/100 (Excellent). 2 red flags identified. 4 strengths noted.
What are the red flags for Newark Museum Association?
The following concerns were identified: Significant year-over-year revenue volatility, with a peak of $33,964,570 in 2021 and a low of $11,736,749 in 2020, which could impact long-term financial stability.. Expenses exceeded revenue in multiple years (e.g., 2022: revenue $12,872,611 vs. expenses $25,733,529), suggesting reliance on reserves or other funding sources.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Newark Museum Association's strengths?
Positive indicators for Newark Museum Association include: Consistently strong asset base, with assets generally above $60 million, indicating robust financial health and capacity.. Low reported liabilities relative to assets, demonstrating a healthy balance sheet.. Consistent operation and filing history over many years, suggesting organizational stability and experience.. Significant total revenue of $31,423,680 and assets of $70,405,406 as of the latest filing, indicating a large and impactful organization.. These findings are derived from AI analysis of the organization's financial filings.
How does Newark Museum Association compensate executives?
Executive compensation cannot be assessed without specific compensation data, as the provided financial filings only include aggregated expense figures (x) and do not break down individual salaries. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Newark Museum Association?
- Financial filings are consistently available, showing detailed revenue, expenses, and assets over several years. - The organization reports 0% lobbying costs, indicating a focus on direct mission activities rather than political influence. - Asset and liability figures are clearly disclosed, providing a transparent view of the organization's financial position. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does the Newark Museum Association manage its operations and long-term planning given the substantial fluctuations in its annual revenue?
The organization likely relies on its significant asset base and potentially endowment funds to smooth out operational costs during years of lower revenue, as evidenced by expenses exceeding revenue in several periods without a corresponding dramatic drop in assets. This suggests strategic financial management to maintain stability despite revenue volatility.
What specific strategies does the museum employ to maintain such a strong asset base, and how are these assets utilized to further its mission?
While specific strategies aren't detailed in the provided data, the consistent growth or maintenance of assets suggests effective investment management, donor cultivation for capital campaigns, or significant bequests. These assets are crucial for maintaining the museum's facilities, acquiring new collections, and funding educational programs, directly supporting its mission.
Filing History
IRS 990 filing history for Newark Museum Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Newark Museum Association's revenue has grown by 4.3%, moving from $17.4M to $18.2M. Total assets decreased by 4.3% over the same period, from $68.3M to $65.3M. Total functional expenses rose by 15.4%, from $17.4M to $20.1M. In its most recent filing year (2023), Newark Museum Association reported a deficit of $1.9M, with expenses exceeding revenue. The organization holds $4.4M in liabilities against $65.3M in assets (debt-to-asset ratio: 6.7%), resulting in net assets of $60.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $18.2M | $20.1M | $65.3M | $4.4M | — | View 990 |
| 2022 | $12.9M | $25.7M | $63.4M | $3.4M | — | View 990 |
| 2021 | $34.0M | $17.8M | $83.2M | $3.3M | — | View 990 |
| 2020 | $11.7M | $15.1M | $64.4M | $1.9M | — | View 990 |
| 2019 | $12.1M | $15.3M | $63.8M | $1.6M | — | View 990 |
| 2018 | $21.5M | $15.3M | $62.4M | $1.2M | — | View 990 |
| 2017 | $17.1M | $20.0M | $67.2M | $1.5M | — | View 990 |
| 2016 | $12.8M | $17.5M | $67.3M | $1.4M | — | View 990 |
| 2015 | $13.8M | $15.9M | $70.4M | $1.3M | — | View 990 |
| 2014 | $16.1M | $14.8M | $76.2M | $1.6M | — | View 990 |
| 2013 | $15.7M | $14.9M | $73.5M | $440K | — | View 990 |
| 2012 | $16.2M | $18.3M | $69.3M | $1.8M | — | View 990 |
| 2011 | $17.4M | $17.4M | $68.3M | $1.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $18.2M, expenses of $20.1M, and assets of $65.3M (revenue +41.1% year-over-year).
- 2022: Revenue of $12.9M, expenses of $25.7M, and assets of $63.4M (revenue -62.1% year-over-year).
- 2021: Revenue of $34.0M, expenses of $17.8M, and assets of $83.2M (revenue +189.4% year-over-year).
- 2020: Revenue of $11.7M, expenses of $15.1M, and assets of $64.4M (revenue -2.9% year-over-year).
- 2019: Revenue of $12.1M, expenses of $15.3M, and assets of $63.8M (revenue -43.9% year-over-year).
- 2018: Revenue of $21.5M, expenses of $15.3M, and assets of $62.4M (revenue +26.1% year-over-year).
- 2017: Revenue of $17.1M, expenses of $20.0M, and assets of $67.2M (revenue +33.3% year-over-year).
- 2016: Revenue of $12.8M, expenses of $17.5M, and assets of $67.3M (revenue -7.3% year-over-year).
- 2015: Revenue of $13.8M, expenses of $15.9M, and assets of $70.4M (revenue -14.2% year-over-year).
- 2014: Revenue of $16.1M, expenses of $14.8M, and assets of $76.2M (revenue +2.8% year-over-year).
- 2013: Revenue of $15.7M, expenses of $14.9M, and assets of $73.5M (revenue -3.4% year-over-year).
- 2012: Revenue of $16.2M, expenses of $18.3M, and assets of $69.3M (revenue -6.8% year-over-year).
- 2011: Revenue of $17.4M, expenses of $17.4M, and assets of $68.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Newark Museum Association:
Data Sources and Methodology
This transparency report for Newark Museum Association 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.