International African American Museum

Analysis

International African American Museum is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in February 2007, 19 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 December 2023, International African American Museum reported income of $7.4m and spending of $14.1m, spending 190% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $18.7m to $7.4m (-60%), an average of -21% a year. The sharpest change came in the year to December 2021, when income rose by 419%. Over the whole period it spent 63% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, International African American 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 96th percentile within SC. Charities of a similar size with the same main cause include Adventure Science Center Nashville ($7.4m), Wamc ($7.4m) and School of Arts and Culture at MHP ($7.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 112% and program service revenue 22% of the total. Other salaries and wages came to $3.5m. It paid $615k in professional fundraising fees. At year end it held assets of $73.6m against liabilities of $18.6m, net assets of $55.0m. It reported 122 employees.