Finger Lakes Boating Museum

Analysis

Finger Lakes Boating Museum is a registered charity in United States, based in Hammondsport, NY. It received its IRS tax-exemption ruling in October 2000, 26 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, Finger Lakes Boating Museum reported income of $560k and spending of $418k, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $459k to $560k (+22%), an average of +5.1% a year. The sharpest change came in the year to December 2021, when income rose by 25%. 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, Finger Lakes Boating Museum sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within NY. Charities of a similar size with the same main cause include Jack Straw Foundation ($560k), Atlanta Catholic Radio Inc ($561k) and California Mid-Winter Fair Heritage Foundation ($560k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $37k (8.9% of expenses). Other salaries and wages came to $126k. At year end it held assets of $1.9m against liabilities of $285k, net assets of $1.6m. It reported 15 employees.