National Sailing Hall of Fame Museum Inc

Analysis

National Sailing Hall of Fame Museum Inc is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in July 2004, 22 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, National Sailing Hall of Fame Museum Inc reported income of $2.8m and spending of $2.3m, spending 83% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $706k to $2.8m (+295%), an average of +41% a year. The sharpest change came in the year to December 2020, when income rose by 394%. Over the whole period it spent 49% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, National Sailing Hall of Fame Museum Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 85th percentile within RI. Charities of a similar size with the same main cause include Goldbelt Heritage Foundation ($2.8m), Chahta Foundation ($2.8m) and Seattle Arts and Lectures Inc ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 90% and program service revenue 9.2% of the total. Compensation of current officers, directors and key employees was $256k (11% of expenses). Other salaries and wages came to $222k. At year end it held assets of $10.6m against liabilities of $1.3m, net assets of $9.3m. It reported 17 employees.