Virginia Beach Maritime Museum Inc

Analysis

Virginia Beach Maritime Museum Inc is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in April 1982, 44 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, Virginia Beach Maritime Museum Inc reported income of $132k and spending of $183k, spending 138% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $188k to $132k (-30%), an average of -8.4% a year. The sharpest change came in the year to June 2021, when income rose by 39%. 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, Virginia Beach Maritime Museum Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 44th percentile within VA. Charities of a similar size with the same main cause include Santa Barbara Dance Institute ($132k), Eastern Shores Own Inc ($132k) and Emerald Empire Art Association Inc ($132k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 91% and program service revenue 1.3% of the total. At year end it held assets of $276k against liabilities of $1,045, net assets of $274k.