Miami-Dade Historical Maritime Museum Inc

Analysis

Miami-Dade Historical Maritime Museum Inc is a registered charity in United States, based in Key West, FL. It received its IRS tax-exemption ruling in March 2003, 23 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 April 2024, Miami-Dade Historical Maritime Museum Inc reported income of $328k and spending of $221k, leaving 33% of income unspent that year. Across the 5 years on record, from April 2020 to April 2024, income fell from $391k to $328k (-16%), an average of -4.3% a year. The sharpest change came in the year to April 2023, when income dropped by 21%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Miami-Dade Historical Maritime Museum Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 66th percentile within FL. Charities of a similar size with the same main cause include Ukrainian Chorus Dumka of America Inc ($328k), Fungal Diversity Survey Inc ($328k) and North Bay Theatrics Company Incorporated ($328k).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 5.0% and program service revenue 94% of the total. Other salaries and wages came to $9,040. At year end it held assets of $637k against liabilities of $300k, net assets of $337k. It reported 2 employees.