Florence Griswold Museum Inc

Analysis

Florence Griswold Museum Inc is a registered charity in United States, based in Old Lyme, CT. It received its IRS tax-exemption ruling in April 1946, 80 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 December 2023, Florence Griswold Museum Inc reported income of $6.7m and spending of $5.6m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.9m to $6.7m (+131%), an average of +23% a year. The sharpest change came in the year to December 2022, when income rose by 290%. Over the whole period it spent 75% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florence Griswold Museum Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within CT. Charities of a similar size with the same main cause include Ballet Hispanico of New York ($6.7m), Grosse Pointe War Memorial Association ($6.7m) and Planes of Fame Air Museum ($6.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 6.6% of the total. Compensation of current officers, directors and key employees was $266k (4.8% of expenses). Other salaries and wages came to $1.2m. It paid $68k in professional fundraising fees. At year end it held assets of $35.9m against liabilities of $419k, net assets of $35.5m. It reported 43 employees.