International Towing and Recovery Hall of Fame and Museum

Analysis

International Towing and Recovery Hall of Fame and Museum is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in July 1990, 36 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 October 2023, International Towing and Recovery Hall of Fame and Museum reported income of $1.2m and spending of $760k, leaving 35% of income unspent that year. Across the 5 years on record, from October 2019 to October 2023, income grew from $806k to $1.2m (+46%), an average of +9.9% a year. The sharpest change came in the year to October 2021, when income rose by 83%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, International Towing and Recovery Hall of Fame and Museum 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 82nd percentile within TN. Charities of a similar size with the same main cause include Hershey Region of the Antique Automobile Club of America ($1.2m), Naranjo Museum of Natural History ($1.2m) and Songwritingwith Inc ($1.2m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 70% and program service revenue 7.1% of the total. Compensation of current officers, directors and key employees was $48k (6.3% of expenses). Other salaries and wages came to $133k. At year end it held assets of $4.3m against liabilities of $62k, net assets of $4.2m. It reported 6 employees.