Annapolis Maritime Museum Inc

Analysis

Annapolis Maritime Museum Inc is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in May 1990, 36 years ago. 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 December 2023, Annapolis Maritime Museum Inc reported income of $3.1m and spending of $2.7m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.1m to $3.1m (+2.1%), an average of +0.5% a year. The sharpest change came in the year to December 2021, when income rose by 82%. Over the whole period it spent 67% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Annapolis Maritime Museum 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 89th percentile, and in the 88th percentile within MD. Charities of a similar size with the same main cause include Encore Living Group Inc ($3.1m), National Christian Charitable Foundation Inc ($3.1m) and Ah Haa School for the Arts ($3.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $159k (6.0% of expenses). Other salaries and wages came to $915k. At year end it held assets of $7.3m against liabilities of $257k, net assets of $7.0m. It reported 21 employees.