Mississippi Maritime Museum Inc

Analysis

Mississippi Maritime Museum Inc is a registered charity in United States, based in Pascagoula, MS. It received its IRS tax-exemption ruling in September 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 (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, Mississippi Maritime Museum Inc reported income of $78k and spending of $137k, spending 177% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $744k to $78k (-90%), an average of -43% a year. The sharpest change came in the year to December 2022, when income rose by 113%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mississippi Maritime Museum Inc sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 32nd percentile within MS. Charities of a similar size with the same main cause include The Sanford Brush Palette Club ($78k), Bach-Millennium Music ($78k) and Shutterbugs 4 Charity ($78k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $50k (36% of expenses). At year end it held assets of $1.2m against liabilities of $348k, net assets of $852k.

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.