Lake Champlain Maritime Museum at Basin Harbor Incorporated

Analysis

Lake Champlain Maritime Museum at Basin Harbor Incorporated is a registered charity in United States, based in Vergennes, VT. It received its IRS tax-exemption ruling in July 1985, 41 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, Lake Champlain Maritime Museum at Basin Harbor Incorporated reported income of $1.7m and spending of $2.0m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.4m to $1.7m (+21%), an average of +5.0% a year. The sharpest change came in the year to December 2021, when income rose by 118%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lake Champlain Maritime Museum at Basin Harbor Incorporated sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 83rd percentile within VT. Charities of a similar size with the same main cause include Flying Leatherneck Historical Foundation ($1.7m), Global Digital Heritage ($1.7m) and The National Theatre Foundation ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 21% of the total. Compensation of current officers, directors and key employees was $137k (7.0% of expenses). Other salaries and wages came to $716k. At year end it held assets of $5.2m against liabilities of $277k, net assets of $4.9m. It reported 41 employees.