Stepping Stones Museum for Children Inc

Analysis

Stepping Stones Museum for Children Inc is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in April 1997, 29 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, Stepping Stones Museum for Children Inc reported income of $9.5m and spending of $10.1m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.2m to $9.5m (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Stepping Stones Museum for Children Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Cape Ann Museum Inc ($9.5m), Opera Philadelphia ($9.5m) and Santa Barbara Museum of Natural History ($9.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 48% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $292k (2.9% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $15.1m against liabilities of $4.6m, net assets of $10.5m. It reported 188 employees.