Overview
What is New Britain Museum Of American Art Inc?
The New Britain Museum of American Art Inc, located at 56 Lexington Street, New Britain, CT 06052, is a distinguished nonprofit organization dedicated to showcasing and preserving American art. With a team of 57 dedicated individuals, the museum's mission is to acquire, exhibit, interpret, research, and conserve works in various artistic media by American citizens or artists who have made significant contributions while residing in the United States. The institution's collection illuminates the evolving story of America, exploring the concept of what it means to be "American" through visual arts. In addition to its permanent collection, the museum mounts over ten changing exhibitions annually, offering a diverse and engaging experience for the public.
Official website here: www.nbmaa.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Stars)
The New Britain Museum of American Art Inc has earned a solid Three-Star rating from Charity Navigator, reflecting its effective management and operational transparency. A score of 87% indicates that the organization meets high standards in accountability and financial health, showcasing its commitment to maintaining a responsible structure with a fully independent board and no material diversion of assets.
Strengths of the museum include a strong program expense ratio of 80.56%, indicating that a significant majority of its financial resources are directed toward its mission and programming rather than administrative costs. Additionally, the organization demonstrates excellent fundraising efficiency, with only 10 cents spent to raise each dollar, which speaks to its effective fundraising strategies and cost management.
While the overall rating is commendable, the summary does not highlight any specific areas needing improvement. Nevertheless, the museum's financial stability, with a low liabilities to assets ratio of 0.77%, and a substantial working capital ratio of 9.15 years, further bolsters its standing as a financially sound institution dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is New Britain Museum Of American Art Inc legitimate?
New Britain Museum Of American Art Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Britain Museum Of American Art Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $359,415
Professional Fundraising Fees: $16,150
Other Salaries and Wages: $1,518,269
For more financial information, click here
Official website here: www.nbmaa.org
What is the mission statement of New Britain Museum Of American Art Inc?
The New Britain Museum of American Art Inc's mission is centered around acquiring, preserving, and showcasing artworks created by American artists or those who have made a significant impact while residing in the United States. The institution aims to shed light on the evolving narrative of America and the concept of "American" through visual arts. The museum provides a platform for both its collection and borrowed works to be exhibited, offering enjoyment and education to the public. It also engages in research and conservation efforts to ensure the longevity of these artistic pieces.
Official website here: www.nbmaa.org
Who is the CEO of New Britain Museum Of American Art Inc?
Brett Abbott is the Trustee of New Britain Museum Of American Art Inc. The CEO's salary of New Britain Museum Of American Art Inc is $232,167 and their total compensation is $256,383.
Official website here: www.nbmaa.org
What is the revenue of New Britain Museum Of American Art Inc?
New Britain Museum Of American Art Inc's revenue in 2023 was $3,268,442.
Official website here: www.nbmaa.org
Who are the executives of New Britain Museum Of American Art Inc and what are their salaries?
The average compensation at New Britain Museum Of American Art Inc during 2023 was $32,942. There are 57 employees and 208 volunteers at New Britain Museum Of American Art Inc.
Here are 33 key members and their salaries (New Britain Museum Of American Art Inc's CEO's salary is $232,167 and their total compensation is $256,383):
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Official website here: www.nbmaa.org
Where can I find the form 990 for New Britain Museum Of American Art Inc?
New Britain Museum Of American Art Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nbmaa.org
Learn more at the official website: www.nbmaa.org
Mission Statement of New Britain Museum Of American Art Inc
The New Britain Museum of American Art Inc, as a nonprofit institution, is dedicated to acquiring, housing, exhibiting, interpreting, researching, and conserving works in various artistic media. This mission is extended to artists who are American citizens or have produced a substantial body of work while residing in the United States. The museum's purpose also includes contributing to the illumination of the evolving narrative of the United States and the concept of "American," through the visual arts. Furthermore, the New Britain Museum of American Art Inc operates a museum where its collection, as well as borrowed works, can be displayed for the enjoyment and education of the public. The mission of this esteemed institution is to preserve and share the rich artistic heritage of America, providing a platform for both established and emerging artists to showcase their work and inspire a deeper understanding of American culture and history.
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Impact
July, 2024
New Britain Museum Of American Art Inc plays a significant role in preserving, interpreting, and showcasing works by American artists, contributing to the understanding and appreciation of American art and culture. By exhibiting both its permanent collection and rotating exhibitions, the museum offers a diverse range of artistic expressions for public enjoyment and education. Through its mission to highlight the evolving story of the United States through visual arts, the museum serves as a vital cultural hub that fosters artistic dialogue and exploration.
This information is meant to be a general summary of New Britain Museum Of American Art Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $652,870
- Program Service Revenue: $301,152
- Gross Receipts: $9,905,426
Assets and Liabilities:
- Total Assets: $47,126,609
- Total Liabilities: $366,271
- Net Assets: $46,760,338
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMISSION AND OTHER EARNED INCOME
Revenue
$301,152
Organization Details
Founding Year
1903
Phone
(860) 229-0257Principal Officer
Brett Abbott
Main Address
56 LEXINGTON STREET, NEW BRITAIN, CT, 06052
Website
www.nbmaa.orgNTEE Category
Code: A510 - Arts
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