The Watermens Museum

Analysis

The Watermens Museum is a registered charity in United States, based in Yorktown, VA. It received its IRS tax-exemption ruling in August 1986, 40 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 2022, The Watermens Museum reported income of $128k and spending of $206k, spending 161% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $182k to $128k (-30%), an average of -11% a year. The sharpest change came in the year to December 2020, when income rose by 35%. Over the whole period it spent 102% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Watermens Museum sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 43rd percentile within VA. Charities of a similar size with the same main cause include Coeur D Alene Arts and Culture Alliance Inc ($128k), Labyrinth Choir ($128k) and Holmdel Theatre Company Inc ($128k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 59% and program service revenue 37% of the total. Other salaries and wages came to $79k. At year end it held assets of $903k against liabilities of $130k, net assets of $773k. It reported 8 employees.