Maryland Veterans Memorial Museum Inc

Analysis

Maryland Veterans Memorial Museum Inc is a registered charity in United States, based in LA Plata, MD. It received its IRS tax-exemption ruling in August 2005, 21 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, Maryland Veterans Memorial Museum Inc reported income of $70k and spending of $155k, spending 222% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $61k to $70k (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2020, when income rose by 480%. 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, Maryland Veterans Memorial Museum Inc sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 29th percentile within MD. Charities of a similar size with the same main cause include Sterling Playmakers ($70k), Playhouse Theatre Inc ($70k) and LA Daiku Association Inc ($70k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 0.9% of the total. At year end it held assets of $3.4m against liabilities of $163k, net assets of $3.2m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.