Uss Silversides Submarines Museum

Analysis

Uss Silversides Submarines Museum is a registered charity in United States, based in Muskegon, MI. It received its IRS tax-exemption ruling in January 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Uss Silversides Submarines Museum reported income of $720k and spending of $680k, spending 94% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $569k to $720k (+27%), an average of +8.2% a year. The sharpest change came in the year to December 2021, when income rose by 79%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Uss Silversides Submarines Museum sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within MI. Charities of a similar size with the same main cause include Vibe Theater Experience ($720k), Friends of the Hunley Inc ($720k) and The Aviation Museum of Kentucky Inc ($720k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 27% and program service revenue 62% of the total. Other salaries and wages came to $257k. At year end it held assets of $1.5m against liabilities of $64k, net assets of $1.4m. It reported 15 employees.