Henry Morrison Flagler Museum

Analysis

Henry Morrison Flagler Museum is a registered charity in United States, based in Palm Beach, FL. It received its IRS tax-exemption ruling in August 1962, 64 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, Henry Morrison Flagler Museum reported income of $7.8m and spending of $6.2m, spending 80% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.6m to $7.8m (+117%), an average of +21% a year. The sharpest change came in the year to December 2021, when income rose by 100%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Henry Morrison Flagler Museum 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 94th percentile, and in the 95th percentile within FL. Charities of a similar size with the same main cause include Science History Institute ($7.8m), Oak Crest Institute of Science ($7.8m) and St Louis Science Center Foundation ($7.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $660k (11% of expenses). Other salaries and wages came to $1.7m. At year end it held assets of $60.1m against liabilities of $6.2m, net assets of $53.9m. It reported 71 employees.