Parrish Art Museum Inc
Parrish Art Museum Inc. maintains substantial assets but has experienced recent operating deficits.
EIN: 111782495 · Water Mill, NY · NTEE: A510 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $17.6M |
| Total Expenses | $6.1M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $38 |
| Net Assets | $36.4M |
| Transparency Score | 75/100 |
Is Parrish Art Museum Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Parrish Art Museum Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Parrish Art Museum Inc
Parrish Art Museum Inc (EIN: 111782495) is a nonprofit organization based in Water Mill, NY, classified under NTEE code A510. The organization reported total revenue of $17.6M and total assets of $46.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Parrish Art Museum Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Parrish Art Museum Inc is a large nonprofit that has been operating for 67 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.7M |
| Total Expenses | $6.1M |
| Surplus / Deficit | $-1,433,808 |
| Total Assets | $38.4M |
| Total Liabilities | $1.9M |
| Net Assets | $36.4M |
| Operating Margin | -30.4% |
| Debt-to-Asset Ratio | 5.1% |
| Months of Reserves | 74.9 months |
Financial Health Grade: B
In 2023, Parrish Art Museum Inc reported a deficit of $1.4M with expenses exceeding revenue, holds 74.9 months of operating reserves (strong position), has a debt-to-asset ratio of 5.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Parrish Art Museum Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.2% | -0.9% | -2.5% |
| 2022 | -24.7% | +19.0% | -6.9% |
| 2021 | +48.5% | +10.5% | +2.6% |
| 2020 | -37.7% | -19.7% | -1.7% |
| 2019 | +19.3% | -3.1% | -0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1959 |
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 Parrish Art Museum Inc with a Mission Score of 75 out of 100 (Good). 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, Parrish Art Museum Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.1%.
Executive Compensation Analysis
The provided data consistently reports 0% officer compensation across all filings, which is unusual for an organization of this size with assets exceeding $38 million. This suggests that executive compensation may be reported under different categories or that the highest-paid individuals are not classified as officers for IRS 990 purposes, limiting transparency on this specific metric.
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 Parrish Art Museum Inc's IRS 990 filings:
- Consistent operating deficits in recent years (2022 and 2023), where expenses exceeded revenue by over $1.4 million and $1.7 million respectively.
- Consistent reporting of 0% officer compensation across all filings, which is unusual for an organization of this size and may obscure executive pay details.
Strengths
The following positive indicators were identified for Parrish Art Museum Inc:
- Maintains a substantial and stable asset base, with assets consistently above $38 million, providing financial resilience.
- Demonstrated ability to manage expenses, which have remained relatively consistent around $6 million annually despite revenue fluctuations.
- Long history of IRS 990 filings (13 filings), indicating consistent compliance and transparency in financial reporting over time.
Frequently Asked Questions about Parrish Art Museum Inc
Is Parrish Art Museum Inc a legitimate charity?
Parrish Art Museum Inc (EIN: 111782495) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $17.6M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Parrish Art Museum Inc spend its money?
Parrish Art Museum Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Parrish Art Museum Inc tax-deductible?
Parrish Art Museum Inc is registered as a tax-exempt nonprofit (EIN: 111782495). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Parrish Art Museum Inc CEO make?
Parrish Art Museum Inc's highest-compensated officer earns $38 annually. The organization reported $17.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Parrish Art Museum Inc's spending goes to programs?
Parrish Art Museum Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Parrish Art Museum Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Parrish Art Museum Inc is above average for NTEE category A510 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Parrish Art Museum Inc located?
Parrish Art Museum Inc is headquartered in Water Mill, New York and files with the IRS under EIN 111782495. It is classified under NTEE code A510.
How many years of IRS 990 filings does Parrish Art Museum Inc have?
Parrish Art 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 $17.6M in total revenue.
How does Parrish Art Museum Inc. fund its operations when expenses exceed revenue, as seen in 2022 and 2023?
In periods where expenses exceed revenue, such as 2022 (Expenses=$6,205,060, Revenue=$4,524,490) and 2023 (Expenses=$6,149,125, Revenue=$4,715,317), the organization likely draws upon its substantial asset base or relies on prior year surpluses and endowment distributions to cover the deficit.
What is the actual executive compensation given the 0% reported officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that executive salaries are either not categorized under 'officer compensation' in the provided summary data, or the highest-paid individuals are not formally designated as officers for IRS 990 reporting, or they are compensated through other means. A detailed review of the full IRS 990 forms would be necessary to understand actual executive compensation.
What is the breakdown of program, administrative, and fundraising expenses?
The provided summary data does not offer a detailed breakdown of program, administrative, and fundraising expenses. A full IRS 990 filing would be required to ascertain these specific percentages and assess spending efficiency more precisely.
Filing History
IRS 990 filing history for Parrish Art Museum Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Parrish Art Museum Inc's revenue has declined by 26.2%, moving from $6.4M to $4.7M. Total assets decreased by 1.1% over the same period, from $38.8M to $38.4M. Total functional expenses rose by 94.6%, from $3.2M to $6.1M. In its most recent filing year (2023), Parrish Art Museum Inc reported a deficit of $1.4M, with expenses exceeding revenue. The organization holds $1.9M in liabilities against $38.4M in assets (debt-to-asset ratio: 5.1%), resulting in net assets of $36.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.7M | $6.1M | $38.4M | $1.9M | — | — |
| 2022 | $4.5M | $6.2M | $39.3M | $1.9M | — | View 990 |
| 2021 | $6.0M | $5.2M | $42.3M | $2.1M | — | View 990 |
| 2020 | $4.0M | $4.7M | $41.2M | $2.0M | — | View 990 |
| 2019 | $6.5M | $5.9M | $41.9M | $2.2M | — | View 990 |
| 2018 | $5.4M | $6.1M | $42.3M | $3.6M | — | View 990 |
| 2017 | $7.5M | $6.1M | $43.7M | $3.8M | — | — |
| 2016 | $4.9M | $5.9M | $42.9M | $4.7M | — | View 990 |
| 2015 | $5.3M | $6.1M | $43.9M | $4.9M | — | View 990 |
| 2014 | $5.5M | $5.7M | $44.9M | $4.9M | — | View 990 |
| 2013 | $5.6M | $5.6M | $45.6M | $5.3M | — | View 990 |
| 2012 | $7.8M | $3.7M | $47.2M | $6.9M | — | View 990 |
| 2011 | $6.4M | $3.2M | $38.8M | $2.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.7M, expenses of $6.1M, and assets of $38.4M (revenue +4.2% year-over-year).
- 2022: Revenue of $4.5M, expenses of $6.2M, and assets of $39.3M (revenue -24.7% year-over-year).
- 2021: Revenue of $6.0M, expenses of $5.2M, and assets of $42.3M (revenue +48.5% year-over-year).
- 2020: Revenue of $4.0M, expenses of $4.7M, and assets of $41.2M (revenue -37.7% year-over-year).
- 2019: Revenue of $6.5M, expenses of $5.9M, and assets of $41.9M (revenue +19.3% year-over-year).
- 2018: Revenue of $5.4M, expenses of $6.1M, and assets of $42.3M (revenue -27.4% year-over-year).
- 2017: Revenue of $7.5M, expenses of $6.1M, and assets of $43.7M (revenue +53.0% year-over-year).
- 2016: Revenue of $4.9M, expenses of $5.9M, and assets of $42.9M (revenue -7.8% year-over-year).
- 2015: Revenue of $5.3M, expenses of $6.1M, and assets of $43.9M (revenue -3.8% year-over-year).
- 2014: Revenue of $5.5M, expenses of $5.7M, and assets of $44.9M (revenue -0.6% year-over-year).
- 2013: Revenue of $5.6M, expenses of $5.6M, and assets of $45.6M (revenue -28.9% year-over-year).
- 2012: Revenue of $7.8M, expenses of $3.7M, and assets of $47.2M (revenue +22.4% year-over-year).
- 2011: Revenue of $6.4M, expenses of $3.2M, and assets of $38.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Parrish Art Museum Inc:
Data Sources and Methodology
This transparency report for Parrish Art 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.