Putnam Museum and Science Center

Analysis

Putnam Museum and Science Center is a registered charity in United States, based in Davenport, IA. It received its IRS tax-exemption ruling in March 1938, 88 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 June 2023, Putnam Museum and Science Center reported income of $3.5m and spending of $3.1m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.2m to $3.5m (+58%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 95%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Putnam Museum and Science Center sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within IA. Charities of a similar size with the same main cause include Long Beach Symphony Association ($3.5m), Strategic Education Research Partnership Institute ($3.5m) and Connecticut Players Foundation Inc ($3.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $508k (16% of expenses). Other salaries and wages came to $975k. At year end it held assets of $12.4m against liabilities of $811k, net assets of $11.6m. It reported 61 employees.