Coral Gables Museum Corporation

Analysis

Coral Gables Museum Corporation is a registered charity in United States, based in Coral Gables, FL. It received its IRS tax-exemption ruling in April 2004, 22 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 September 2023, Coral Gables Museum Corporation reported income of $1.2m and spending of $1.2m, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $848k to $1.2m (+38%), an average of +8.3% a year. The sharpest change came in the year to September 2023, when income rose by 21%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Coral Gables Museum Corporation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 83rd percentile within FL. Charities of a similar size with the same main cause include The Springville Center for the Arts Inc ($1.2m), Northland Shepherds Center ($1.2m) and Schauer Arts and Activities Center Inc ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 75% and program service revenue 5.6% of the total. Compensation of current officers, directors and key employees was $117k (9.9% of expenses). Other salaries and wages came to $493k. At year end it held assets of $2.5m against liabilities of $153k, net assets of $2.4m. It reported 18 employees.