Fairbanks Museum and Planetarium

Analysis

Fairbanks Museum and Planetarium is a registered charity in United States, based in St Johnsbury, VT. It received its IRS tax-exemption ruling in February 1943, 83 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, Fairbanks Museum and Planetarium reported income of $5.5m and spending of $1.8m, leaving 67% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $5.5m (+272%), an average of +39% a year. The sharpest change came in the year to December 2020, when income rose by 105%. Over the whole period it spent 48% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fairbanks Museum and Planetarium sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within VT. Charities of a similar size with the same main cause include Japanese American Cultural and Community Center ($5.5m), Pilchuck Glass School ($5.5m) and Cleveland Music School Settlement ($5.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 8.4% of the total. Compensation of current officers, directors and key employees was $127k (6.9% of expenses). Other salaries and wages came to $794k. At year end it held assets of $14.6m against liabilities of $2.0m, net assets of $12.7m. It reported 26 employees.