The Maritime Aquarium at Norwalk Inc

Analysis

The Maritime Aquarium at Norwalk Inc is a registered charity in United States, based in South Norwalk, CT. It received its IRS tax-exemption ruling in May 1985, 41 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 2023, The Maritime Aquarium at Norwalk Inc reported income of $16.1m and spending of $14.3m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $16.2m to $16.1m (-0.6%), an average of -0.2% a year. The sharpest change came in the year to June 2022, when income rose by 61%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Maritime Aquarium at Norwalk Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within CT. Charities of a similar size with the same main cause include Laureate Institute for Brain Research Inc ($16.1m), Chicago Shakespeare Theater ($16.1m) and Arkansas Museum of Fine Arts Foundation ($16.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 36% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $567k (4.0% of expenses). Other salaries and wages came to $5.2m. At year end it held assets of $25.1m against liabilities of $3.9m, net assets of $21.3m. It reported 189 employees.