The Black History Museum and Cultural Center Inc

Analysis

The Black History Museum and Cultural Center Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in March 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 (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, The Black History Museum and Cultural Center Inc reported income of $1.4m and spending of $1.6m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $699k to $1.4m (+100%), an average of +19% a year. The sharpest change came in the year to June 2020, when income rose by 194%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Black History Museum and Cultural Center Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within VA. Charities of a similar size with the same main cause include Virginia Commemorations Inc ($1.4m), Verse Video Education Inc ($1.4m) and Sons of the Revolution in the State of New York Inc ($1.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $62k (3.8% of expenses). Other salaries and wages came to $216k. At year end it held assets of $8.3m against liabilities of $3.4m, net assets of $4.9m. It reported 6 employees.