Mariners Museum

Analysis

Mariners Museum is a registered charity in United States, based in Newport News, VA. It received its IRS tax-exemption ruling in April 1932, 94 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 December 2023, Mariners Museum reported income of $9.5m and spending of $11.3m, spending 119% of what it took in. Across the 6 years on record, from September 2019 to December 2023, income grew from $7.9m to $9.5m (+20%), an average of +3.7% a year. The sharpest change came in the year to December 2021, when income rose by 133%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mariners Museum sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include Trustees of Calder Gardens ($9.5m), Santa Barbara Museum of Natural History ($9.5m) and Music Hall Center for the Performing Arts Inc ($9.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 74% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $450k (4.0% of expenses). Other salaries and wages came to $5.3m. At year end it held assets of $147.6m against liabilities of $9.1m, net assets of $138.5m. It reported 153 employees.