Arts, Culture & Humanities (A510) IRS Verified DX Registered 990 on File

RACINE ART MUSEUM ASSOCIATION INC

EIN: 39-1018155 · RACINE, WI 53403-1030 · United States · FY 2024 Data

3 out of 5 50 / 100 Based on 2+ years of filings

Financial strength (30%) 65/100

Reliability (20%) 55/100

Effectiveness (25%) 78/100

Impact (25%) No data yet

Financial data: FY 2024 · Scored 9/13/2026

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Mission Statement

The Racine Art Museum holds the largest and most significant contemporary craft collection in North America, with more than 10,000 objects from nationally and internationally recognized artists. The mission of the Racine Art Museum is to exhibit, collect, preserve, and educate in the contemporary visual arts. It is the museum’s goal to elevate the stature of craft to fine arts by presenting ceramic, fiber, glass, metal, polymer, and wood alongside paintings and sculptures. The museum plays a vital role in arts education through RAM’s Wustum Museum, where it offers community outreach programs, and studio art classes and workshops taught by regionally and nationally known artists working in craft media.

Financial Overview — FY 2024

$2.0M

Total Revenue

$2.5M

Total Expenses

$12.1M

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 69.7%

Fundraising Efficiency 283.8%

Operating Reserve 58.28x

Liability-to-Asset 3.2%

Revenue Diversification 59.8%

Executive Compensation $223K

Compared with Peers

FY 2024

Compared with 3,450 similar organizations (United States, Arts, Culture & Humanities, $1M–$10M in expenses), FY 2024.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	69.7%	77.9%	P10P90	Below median
Admin expense ratio Management and general / total expenses · lower is better	19.3%	14.4%	P10P90	Below median
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	11.1%	5.4%	P10P90	Bottom quarter
Fundraising efficiency Fundraising expenses / gross fundraising income · lower is better	283.8%	240.4%	P10P90	Below median
Operating reserve Months of expenses covered by net assets · higher is better	58.3 mo	16.5 mo	P10P90	Top quarter
Liabilities to assets Total liabilities / total assets · lower is better	3.2%	10.6%	P10P90	Above median
Revenue concentration Share of revenue from the largest source · lower is better	59.8%	74.5%	P10P90	Above median
Revenue growth Year over year revenue growth	-29.9%	7.8%	P10P90
Expense growth Year over year expense growth	10.0%	8.0%	P10P90
Surplus margin Surplus as a share of revenue	-25.8%	-0.5%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2024	$2.0M	$2.5M	$12.1M	69.7%	54
2023	$2.8M	$2.3M	$12.4M	68.0%	53
2022	$2.1M	$2.2M	$11.7M	70.7%	52
2021	$2.0M	$1.9M	N/A	—	48

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Organization Details

EIN: 39-1018155
State: WI
City: RACINE
ZIP: 53403-1030
Classification: A510
Category: Arts, Culture & Humanities
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year: 1941
Foundation Code: 15
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

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