Raeford-Hoke Museum Inc

Analysis

Raeford-Hoke Museum Inc is a registered charity in United States, based in Raeford, NC. It received its IRS tax-exemption ruling in August 2003, 23 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 June 2024, Raeford-Hoke Museum Inc reported income of $62k and spending of $76k, spending 122% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $57k to $62k (+10%), an average of +2.0% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 134% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Raeford-Hoke Museum Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 23rd percentile within NC. Charities of a similar size with the same main cause include Highland Park Strings NFP ($62k), Early Era Collective ($62k) and Indian History Awareness and Research ($62k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $10k (13% of expenses). Other salaries and wages came to $11k. At year end it held assets of $600k against liabilities of $1,350, net assets of $598k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.