Queens Museum Of Art New York City Building
Queens Museum consistently spends more than it earns, drawing down assets over the last decade.
EIN: 112278998 · Flushing, NY · NTEE: A510 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.8M |
| Total Expenses | $7.8M |
| Program Spending | 75% |
| Net Assets | $34.6M |
| Transparency Score | 70/100 |
Is Queens Museum Of Art New York City Building Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Queens Museum Of Art New York City Building directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Queens Museum Of Art New York City Building
Queens Museum Of Art New York City Building (EIN: 112278998) is a nonprofit organization based in Flushing, NY, classified under NTEE code A510. The organization reported total revenue of $6.8M and total assets of $36.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Queens Museum Of Art New York City Building's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Queens Museum Of Art New York City Building is a mid-size nonprofit that has been operating for 54 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.2M |
| Total Expenses | $7.8M |
| Surplus / Deficit | $-1,617,608 |
| Total Assets | $36.0M |
| Total Liabilities | $1.4M |
| Net Assets | $34.6M |
| Operating Margin | -26.1% |
| Debt-to-Asset Ratio | 3.8% |
| Months of Reserves | 55.3 months |
Financial Health Grade: B
In 2023, Queens Museum Of Art New York City Building reported a deficit of $1.6M with expenses exceeding revenue, holds 55.3 months of operating reserves (strong position), has a debt-to-asset ratio of 3.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Queens Museum Of Art New York City Building's revenue has declined at a compound annual growth rate (CAGR) of -4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.0% | +18.5% | -1.6% |
| 2022 | +42.3% | +23.5% | -2.2% |
| 2021 | +12.5% | +3.4% | -1.7% |
| 2020 | +3.4% | -8.3% | -1.9% |
| 2019 | -30.1% | -10.9% | -4.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1972 |
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 Queens Museum Of Art New York City Building with a Mission Score of 70 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Queens Museum Of Art New York City Building allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $1.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization of this size and suggests either pro-bono leadership or compensation is reported differently.
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 Queens Museum Of Art New York City Building's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue) in recent years, e.g., $7.8M expenses vs. $6.1M revenue in 202306.
- Significant decline in revenue over the past decade, from $17.3M in 201406 to $6.1M in 202306.
- Decrease in total assets from $44.2M in 201406 to $36.0M in 202306, indicating asset utilization to cover operational shortfalls.
- Reported 0% officer compensation, which is unusual for an organization of this size and warrants further scrutiny into how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Queens Museum Of Art New York City Building:
- Substantial asset base of $36,013,539 provides a buffer against short-term financial challenges.
- Low liabilities relative to assets, indicating a healthy balance sheet.
- Consistent operation for over a decade, demonstrating organizational resilience.
- Potential for high program spending efficiency if the 0% officer compensation truly reflects pro-bono leadership.
Frequently Asked Questions about Queens Museum Of Art New York City Building
Is Queens Museum Of Art New York City Building a legitimate charity?
Based on AI analysis of IRS 990 filings, Queens Museum Of Art New York City Building (EIN: 112278998) some concerns. Mission Score: 70/100. 4 red flags identified, 4 strengths noted.
How does Queens Museum Of Art New York City Building spend its money?
Queens Museum Of Art New York City Building directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Queens Museum Of Art New York City Building tax-deductible?
Queens Museum Of Art New York City Building is registered as a tax-exempt nonprofit (EIN: 112278998). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Queens Museum Of Art New York City Building's spending goes to programs?
Queens Museum Of Art New York City Building directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Queens Museum Of Art New York City Building compare to similar nonprofits?
With a transparency score of 70/100 (Good), Queens Museum Of Art New York City Building 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 Queens Museum Of Art New York City Building located?
Queens Museum Of Art New York City Building is headquartered in Flushing, New York and files with the IRS under EIN 112278998. It is classified under NTEE code A510.
How many years of IRS 990 filings does Queens Museum Of Art New York City Building have?
Queens Museum Of Art New York City Building 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 $6.8M in total revenue.
Is Queens Museum Of Art New York City Building financially sustainable given its consistent deficit spending?
The museum has consistently spent more than its revenue in recent years (e.g., $7.8M expenses vs. $6.1M revenue in 202306). While it has substantial assets ($36M), this trend of deficit spending is not sustainable long-term and could erode its endowment if not addressed.
What is the reason for the reported 0% officer compensation?
The filings consistently show 0% officer compensation. This could mean that officers are compensated by a related entity, serve on a pro-bono basis, or compensation is reported under a different category, which would require further investigation of the full 990 forms.
How has the museum's revenue changed over the past decade?
The museum's revenue has seen a significant decline, from $17,385,837 in 201406 to $6,191,125 in 202306, representing a substantial decrease in its financial intake.
What is the trend in the museum's assets and liabilities?
Assets have decreased from $44,298,166 in 201406 to $36,000,981 in 202306. Liabilities have fluctuated but remained relatively low compared to assets, though they saw an increase to $1,363,940 in 202306 from $364,339 in 202206.
Filing History
IRS 990 filing history for Queens Museum Of Art New York City Building showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Queens Museum Of Art New York City Building's revenue has declined by 41%, moving from $10.5M to $6.2M. Total assets increased by 123% over the same period, from $16.1M to $36.0M. Total functional expenses rose by 121%, from $3.5M to $7.8M. In its most recent filing year (2023), Queens Museum Of Art New York City Building reported a deficit of $1.6M, with expenses exceeding revenue. The organization holds $1.4M in liabilities against $36.0M in assets (debt-to-asset ratio: 3.8%), resulting in net assets of $34.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.2M | $7.8M | $36.0M | $1.4M | — | — |
| 2022 | $6.4M | $6.6M | $36.6M | $364K | — | View 990 |
| 2021 | $4.5M | $5.3M | $37.4M | $853K | — | — |
| 2020 | $4.0M | $5.2M | $38.0M | $714K | — | View 990 |
| 2019 | $3.9M | $5.6M | $38.8M | $293K | — | View 990 |
| 2018 | $5.5M | $6.3M | $40.6M | $281K | — | View 990 |
| 2017 | $5.0M | $6.1M | $41.5M | $472K | — | View 990 |
| 2016 | $4.8M | $6.5M | $42.7M | $588K | — | View 990 |
| 2015 | $6.5M | $6.2M | $44.6M | $461K | — | View 990 |
| 2014 | $17.4M | $6.6M | $44.3M | $468K | — | View 990 |
| 2013 | $14.7M | $4.5M | $33.3M | $305K | — | View 990 |
| 2012 | $11.1M | $4.1M | $23.1M | $288K | — | View 990 |
| 2011 | $10.5M | $3.5M | $16.1M | $265K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.2M, expenses of $7.8M, and assets of $36.0M (revenue -3.0% year-over-year).
- 2022: Revenue of $6.4M, expenses of $6.6M, and assets of $36.6M (revenue +42.3% year-over-year).
- 2021: Revenue of $4.5M, expenses of $5.3M, and assets of $37.4M (revenue +12.5% year-over-year).
- 2020: Revenue of $4.0M, expenses of $5.2M, and assets of $38.0M (revenue +3.4% year-over-year).
- 2019: Revenue of $3.9M, expenses of $5.6M, and assets of $38.8M (revenue -30.1% year-over-year).
- 2018: Revenue of $5.5M, expenses of $6.3M, and assets of $40.6M (revenue +10.6% year-over-year).
- 2017: Revenue of $5.0M, expenses of $6.1M, and assets of $41.5M (revenue +3.4% year-over-year).
- 2016: Revenue of $4.8M, expenses of $6.5M, and assets of $42.7M (revenue -25.9% year-over-year).
- 2015: Revenue of $6.5M, expenses of $6.2M, and assets of $44.6M (revenue -62.5% year-over-year).
- 2014: Revenue of $17.4M, expenses of $6.6M, and assets of $44.3M (revenue +18.1% year-over-year).
- 2013: Revenue of $14.7M, expenses of $4.5M, and assets of $33.3M (revenue +32.7% year-over-year).
- 2012: Revenue of $11.1M, expenses of $4.1M, and assets of $23.1M (revenue +5.7% year-over-year).
- 2011: Revenue of $10.5M, expenses of $3.5M, and assets of $16.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Queens Museum Of Art New York City Building:
Data Sources and Methodology
This transparency report for Queens Museum Of Art New York City Building 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.