Oyster Museum Inc

Analysis

Oyster Museum Inc is a registered charity in United States, based in Chincoteague, VA. It received its IRS tax-exemption ruling in June 1972, 54 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, Oyster Museum Inc reported income of $1.7m and spending of $841k, leaving 52% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $753k to $1.7m (+131%), an average of +23% a year. The sharpest change came in the year to December 2021, when income rose by 263%. Over the whole period it spent 71% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Oyster Museum Inc sits at the 91st percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within VA. Charities of a similar size with the same main cause include The Museum for African Art ($1.7m), Ohio Academy of Science ($1.7m) and Research Center for Children Youth & Families Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 45% of the total. Other salaries and wages came to $198k. At year end it held assets of $1.9m against liabilities of $3,514, net assets of $1.9m. It reported 5 employees.