Friends of NC State Museum of Natural Sciences

Analysis

Friends of NC State Museum of Natural Sciences is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in September 1979, 47 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, Friends of NC State Museum of Natural Sciences reported income of $7.0m and spending of $5.0m, leaving 28% of income unspent that year. Across the 6 years on record, from June 2018 to June 2023, income grew from $6.1m to $7.0m (+15%), an average of +2.8% a year. The sharpest change came in the year to June 2022, when income rose by 79%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of NC State Museum of Natural Sciences sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within NC. Charities of a similar size with the same main cause include Dreamyard Project Inc ($7.0m), Remnant Publications Inc ($7.0m) and Northeast Organic Farming Association of Vermont ($7.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 66% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $201k (4.0% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $11.7m against liabilities of $450k, net assets of $11.2m. It reported 107 employees.