Discovery Museum Inc

Analysis

Discovery Museum Inc is a registered charity in United States, based in Bridgeport, CT. It received its IRS tax-exemption ruling in February 1961, 65 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Discovery Museum Inc reported income of $2.0m and spending of $2.5m, spending 127% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.7m to $2.0m (+21%), an average of +4.8% a year. The sharpest change came in the year to June 2022, when income rose by 169%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Discovery Museum Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within CT. Charities of a similar size with the same main cause include International Life Sciences Institute ($2.0m), Payomet Inc ($2.0m) and Circle in the Square Theatre School Inc ($2.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 50% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $120k (4.7% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $6.2m against liabilities of $1.1m, net assets of $5.1m. It reported 76 employees.