Seaport Museum New York

Analysis

Seaport Museum New York is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in March 1989, 37 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, Seaport Museum New York reported income of $6.5m and spending of $5.3m, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.5m to $6.5m (+43%), an average of +9.3% a year. The sharpest change came in the year to December 2022, when income rose by 206%. Over the whole period it spent 71% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Seaport Museum New York 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 91st percentile within NY. Charities of a similar size with the same main cause include Center for the Art of Translation ($6.5m), Galveston Historical Foundation Inc ($6.5m) and Columbia Museum of Art ($6.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 4.8% of the total. Compensation of current officers, directors and key employees was $274k (5.2% of expenses). Other salaries and wages came to $2.3m. At year end it held assets of $26.9m against liabilities of $3.7m, net assets of $23.2m. It reported 84 employees.