Portsmouth Museums Foundation Inc

Analysis

Portsmouth Museums Foundation Inc is a registered charity in United States, based in Portsmouth, VA. It received its IRS tax-exemption ruling in May 1994, 32 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, Portsmouth Museums Foundation Inc reported income of $247k and spending of $151k, leaving 39% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $222k to $247k (+11%), an average of +3.6% a year. The sharpest change came in the year to June 2021, when income rose by 169%. Over the whole period it spent 65% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Portsmouth Museums Foundation Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within VA. Charities of a similar size with the same main cause include Dalles Art Association ($247k), Arts for Schools Inc ($247k) and Pocono Mountains Music Festival ($247k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% of the total. Compensation of current officers, directors and key employees was $45k (30% of expenses). It paid $23k in professional fundraising fees. At year end it held assets of $4.3m against liabilities of $0, net assets of $4.3m. It reported 1 employees.