Captain Forbes House Museum

Analysis

Captain Forbes House Museum is a registered charity in United States, based in Milton, MA. It received its IRS tax-exemption ruling in May 1985, 41 years ago. 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 2023, Captain Forbes House Museum reported income of $284k and spending of $468k, spending 164% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $223k to $284k (+28%), an average of +6.3% a year. The sharpest change came in the year to June 2022, when income rose by 83%. Over the whole period it spent 157% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Captain Forbes House Museum sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within MA. Charities of a similar size with the same main cause include Ojai Valley Historical Society and Museum ($284k), Womens Resource Center in Durango ($284k) and Friends of Drake Well Inc ($284k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 7.0% of the total. Compensation of current officers, directors and key employees was $62k (13% of expenses). Other salaries and wages came to $50k. At year end it held assets of $2.5m against liabilities of $31k, net assets of $2.5m. It reported 4 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.