The Waterfront Museum

Analysis

The Waterfront Museum is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 2006, 20 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 December 2023, The Waterfront Museum reported income of $177k and spending of $188k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $93k to $177k (+91%), an average of +18% a year. The sharpest change came in the year to December 2022, when income rose by 107%. Over the whole period it spent 126% 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 Waterfront Museum sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 49th percentile within NY. Charities of a similar size with the same main cause include American Dance and Music Inc ($177k), India Culture Center ($177k) and San Mateo Nippon Gakuyen ($177k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 28% of the total. Compensation of current officers, directors and key employees was $35k (19% of expenses). Other salaries and wages came to $7,872. At year end it held assets of $634k against liabilities of $224k, net assets of $409k. It reported 4 employees.