Kings Mountain Historical Museum Foundation

Analysis

Kings Mountain Historical Museum Foundation is a registered charity in United States, based in Kings MTN, NC. It received its IRS tax-exemption ruling in May 1995, 31 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, Kings Mountain Historical Museum Foundation reported income of $77k and spending of $101k, spending 131% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $96k to $77k (-19%), an average of -5.2% a year. The sharpest change came in the year to December 2021, when income dropped by 18%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Kings Mountain Historical Museum Foundation sits at the 34th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 28th percentile within NC. Charities of a similar size with the same main cause include Big Tree Productions Inc ($77k), School of Painting Inc ($77k) and Smoky Valley Arts and Folklife Center ($77k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 2.6% of the total. Compensation of current officers, directors and key employees was $44k (43% of expenses). Other salaries and wages came to $19k. At year end it held assets of $285k against liabilities of $2,198, net assets of $283k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.