New Jersey Museum of Transportation Inc

Analysis

New Jersey Museum of Transportation Inc is a registered charity in United States, based in Farmingdale, NJ. It received its IRS tax-exemption ruling in October 1965, 61 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, New Jersey Museum of Transportation Inc reported income of $130k and spending of $144k, spending 111% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $160k to $130k (-19%), an average of -6.7% a year. The sharpest change came in the year to December 2021, when income dropped by 58%. Over the whole period it spent 127% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New Jersey Museum of Transportation Inc sits at the 49th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 51st percentile within NJ. Charities of a similar size with the same main cause include Performing Arts of Maitland Inc ($130k), Palestine Community Theatre Inc ($130k) and Tangipahoa African American Heritage Museum & Veterans Archive ($130k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. At year end it held assets of $180k against liabilities of $452, net assets of $179k.

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.