Ocean Isle Museum Foundation Inc

Analysis

Ocean Isle Museum Foundation Inc is a registered charity in United States, based in Ocean Isl BCH, NC. It received its IRS tax-exemption ruling in June 1989, 37 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 2024, Ocean Isle Museum Foundation Inc reported income of $789k and spending of $642k, spending 81% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $410k to $789k (+93%), an average of +18% a year. The sharpest change came in the year to June 2022, when income rose by 106%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ocean Isle Museum Foundation Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 77th percentile within NC. Charities of a similar size with the same main cause include Stillwater Music ($789k), Maine Academy of Modern Music ($789k) and National Federation of Community Broadcasters Inc ($789k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 32% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $82k (13% of expenses). Other salaries and wages came to $202k. At year end it held assets of $2.8m against liabilities of $6,983, net assets of $2.8m. It reported 22 employees.