Childrens Museum of Richmond

Analysis

Childrens Museum of Richmond is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in February 1978, 48 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 June 2023, Childrens Museum of Richmond reported income of $3.6m and spending of $3.2m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.9m to $3.6m (-6.9%), an average of -1.8% a year. The sharpest change came in the year to June 2022, when income rose by 35%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Childrens Museum of Richmond sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include Partnership Inc ($3.6m), Museum of Fine Arts of St Petersburg Fla Inc ($3.6m) and Community Action Partnership of Oregon ($3.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 49% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $186k (5.7% of expenses). Other salaries and wages came to $1.3m. It paid $13k in professional fundraising fees. At year end it held assets of $9.8m against liabilities of $1.7m, net assets of $8.1m. It reported 105 employees.