Patuxent River Naval Air Museum Association Inc

Analysis

Patuxent River Naval Air Museum Association Inc is a registered charity in United States, based in Lexington PK, MD. It received its IRS tax-exemption ruling in October 1976, 50 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, Patuxent River Naval Air Museum Association Inc reported income of $488k and spending of $357k, leaving 27% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $287k to $488k (+70%), an average of +14% a year. The sharpest change came in the year to June 2022, when income rose by 58%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Patuxent River Naval Air Museum Association Inc sits at the 77th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 69th percentile within MD. Charities of a similar size with the same main cause include Pittsburgh International Folk Arts Institute ($488k), Stumptown Stages ($488k) and Illinois Restaurant Association Educational Foundation Inc ($488k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% and program service revenue 2.8% of the total. Other salaries and wages came to $120k. At year end it held assets of $772k against liabilities of $53k, net assets of $719k. It reported 13 employees.