Chicago Maritime Museum

Analysis

Chicago Maritime Museum is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in February 1983, 43 years ago. 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, Chicago Maritime Museum reported income of $445k and spending of $412k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $345k to $445k (+29%), an average of +6.5% a year. The sharpest change came in the year to December 2021, when income rose by 653%. Over the whole period it spent 41% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Chicago Maritime Museum sits at the 67th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within IL. Charities of a similar size with the same main cause include Willow Rising ($445k), Zoroastrian Association of Greater New York Inc ($445k) and United Way of Defiance County Incorporated ($445k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 1.0% of the total. Other salaries and wages came to $94k. At year end it held assets of $2.6m against liabilities of $118k, net assets of $2.5m. It reported 3 employees.