Wilmington Railroad Museum Foundation Inc

Analysis

Wilmington Railroad Museum Foundation Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in April 1980, 46 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 March 2023, Wilmington Railroad Museum Foundation Inc reported income of $255k and spending of $222k, spending 87% of its income. Across the 3 years on record, from March 2019 to March 2023, income grew from $168k to $255k (+52%), an average of +23% a year. The sharpest change came in the year to March 2022, when income rose by 61%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wilmington Railroad Museum Foundation Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 57th percentile within NC. Charities of a similar size with the same main cause include Aurora Historical Society ($255k), Kennett Symphony of Chester County ($255k) and SSJ Inc ($255k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 17% and program service revenue 62% of the total. Other salaries and wages came to $120k. At year end it held assets of $347k against liabilities of $0, net assets of $347k.