Charlotte Museum of History Inc

Analysis

Charlotte Museum of History Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in June 1972, 54 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 June 2023, Charlotte Museum of History Inc reported income of $1.0m and spending of $1.3m, spending 123% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $629k to $1.0m (+62%), an average of +13% a year. The sharpest change came in the year to June 2023, when income rose by 1797%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Charlotte Museum of History Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 80th percentile within NC. Charities of a similar size with the same main cause include Harbor Springs Area Historical Society ($1.0m), Antique Auto Museum of Mass at Larz Anderson Park Inc ($1.0m) and Corpus Christi Symphony Society Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $95k (7.5% of expenses). Other salaries and wages came to $322k. At year end it held assets of $7.3m against liabilities of $450k, net assets of $6.9m. It reported 9 employees.