Wilmington Childrens Museum Inc

Analysis

Wilmington Childrens Museum Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in February 1998, 28 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, Wilmington Childrens Museum Inc reported income of $956k and spending of $786k, spending 82% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $439k to $956k (+118%), an average of +22% a year. The sharpest change came in the year to June 2022, when income rose by 65%. Over the whole period it spent 91% 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 Childrens Museum Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within NC. Charities of a similar size with the same main cause include Extreme Tech Challenge ($956k), Discovery Center at Waters Edge Inc ($957k) and Weymouth Educational Telecommunicators Corporation Inc ($956k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 64% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $84k (11% of expenses). Other salaries and wages came to $329k. At year end it held assets of $2.1m against liabilities of $839k, net assets of $1.2m. It reported 33 employees.