National Great Blacks in Wax Museum

Analysis

National Great Blacks in Wax Museum is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in June 1985, 41 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, National Great Blacks in Wax Museum reported income of $516k and spending of $621k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $305k to $516k (+69%), an average of +14% a year. The sharpest change came in the year to December 2022, when income rose by 47%. Over the whole period it spent 122% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, National Great Blacks in Wax Museum sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within MD. Charities of a similar size with the same main cause include Peridance Ensemble Ltd ($516k), National Society of Colonial Dames of America ($516k) and Philippine Cultural Foundation Inc ($516k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 36% and program service revenue 63% of the total. Compensation of current officers, directors and key employees was $60k (9.7% of expenses). Other salaries and wages came to $99k. At year end it held assets of $292k against liabilities of $202k, net assets of $90k. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.