Lake Superior Marine Museum Assn

Analysis

Lake Superior Marine Museum Assn is a registered charity in United States, based in Duluth, MN. It received its IRS tax-exemption ruling in April 1974, 52 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, Lake Superior Marine Museum Assn reported income of $89k and spending of $65k, leaving 27% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $103k to $89k (-14%), an average of -14% a year. Over the whole period it spent 57% 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 Superior Marine Museum Assn sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 31st percentile within MN. Charities of a similar size with the same main cause include Long Beach Youth Chorus ($89k), Oak Cliff Coalition for the Arts ($89k) and Historic St Marys Mission Inc ($89k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 42% of the total. At year end it held assets of $359k against liabilities of $9,257, net assets of $350k.