Fredericksburg Area Museum and Cultural Center Inc

Analysis

Fredericksburg Area Museum and Cultural Center Inc is a registered charity in United States, based in Fredericksbrg, VA. It received its IRS tax-exemption ruling in August 1987, 39 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, Fredericksburg Area Museum and Cultural Center Inc reported income of $523k and spending of $650k, spending 124% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $400k to $523k (+30%), an average of +6.9% a year. The sharpest change came in the year to June 2022, when income rose by 29%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fredericksburg Area Museum and Cultural Center Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 71st percentile within VA. Charities of a similar size with the same main cause include Beverlys Terrace Plaza Playhouse ($523k), The Cooperage Project ($523k) and Irish Dancing Teachers Association of North America ($522k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 73% and program service revenue 4.2% of the total. Compensation of current officers, directors and key employees was $3,846 (0.6% of expenses). Other salaries and wages came to $271k. At year end it held assets of $3.2m against liabilities of $41k, net assets of $3.1m. It reported 8 employees.