Historic Ships in Baltimore Inc

Analysis

Historic Ships in Baltimore Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in September 2015, 11 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, Historic Ships in Baltimore Inc reported income of $1.5m and spending of $1.8m, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.5m (+29%), an average of +6.5% a year. The sharpest change came in the year to December 2022, when income rose by 195%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Historic Ships in Baltimore 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 82nd percentile within MD. Charities of a similar size with the same main cause include Charitable Friends of Digamma Building Inc ($1.5m), Truro Center for the Arts at Castle Hill Inc ($1.5m) and Ingenuity Incorporated Chicago ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 72% of the total. Other salaries and wages came to $561k. At year end it held assets of $4.9m against liabilities of $1.2m, net assets of $3.7m.