Palm Springs Air Museum Inc

Analysis

Palm Springs Air Museum Inc is a registered charity in United States, based in Palm Springs, CA. It received its IRS tax-exemption ruling in May 1994, 32 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 August 2023, Palm Springs Air Museum Inc reported income of $8.6m and spending of $4.4m, leaving 48% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $3.8m to $8.6m (+123%), an average of +22% a year. The sharpest change came in the year to August 2023, when income rose by 66%. Over the whole period it spent 69% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palm Springs Air Museum Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within CA. Charities of a similar size with the same main cause include Chicago Academy of Sciences ($8.6m), Longyear Foundation ($8.6m) and Opportunity Agenda Inc ($8.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 65% and program service revenue 30% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $24.6m against liabilities of $743k, net assets of $23.9m. It reported 16 employees.