Moosehead Marine Museum Inc

Analysis

Moosehead Marine Museum Inc is a registered charity in United States, based in Greenville, ME. It received its IRS tax-exemption ruling in May 1978, 48 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Moosehead Marine Museum Inc reported income of $599k and spending of $556k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $377k to $599k (+59%), an average of +12% a year. The sharpest change came in the year to December 2022, when income rose by 159%. Over the whole period it spent 69% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Moosehead Marine Museum Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within ME. Charities of a similar size with the same main cause include Icehouse Players Inc ($599k), Scottsdale Philharmonic Inc ($599k) and American Governance Foundation Inc ($599k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $51k (9.2% of expenses). Other salaries and wages came to $131k. At year end it held assets of $3.2m against liabilities of $297k, net assets of $2.9m. It reported 23 employees.