Wisconsin Maritime Museum Inc

Analysis

Wisconsin Maritime Museum Inc is a registered charity in United States, based in Manitowoc, WI. It received its IRS tax-exemption ruling in January 1969, 57 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 2023, Wisconsin Maritime Museum Inc reported income of $1.3m and spending of $1.5m, spending 113% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $958k to $1.3m (+35%), an average of +7.9% a year. The sharpest change came in the year to December 2021, when income rose by 59%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wisconsin Maritime Museum Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 83rd percentile within WI. Charities of a similar size with the same main cause include Devils Tower Natural History Association ($1.3m), Black in Marine Science ($1.3m) and Krasl Art Center Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 38% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $98k (6.7% of expenses). Other salaries and wages came to $553k. At year end it held assets of $5.2m against liabilities of $486k, net assets of $4.7m. It reported 42 employees.