Museum of the Marine

Analysis

Museum of the Marine is a registered charity in United States, based in Jacksonville, NC. It received its IRS tax-exemption ruling in July 2000, 26 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, Museum of the Marine reported income of $14.3m and spending of $730k, leaving 95% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $237k to $14.3m (+5933%), an average of +292% a year. The sharpest change came in the year to June 2023, when income rose by 2225%. Over the whole period it spent 11% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Museum of the Marine sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Utah Film Center Dba Salt Lake City Film Center and ($14.2m), Crazy Horse Memorial Foundation ($14.3m) and International Documentary Association Inc ($14.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $422k (58% of expenses). At year end it held assets of $27.5m against liabilities of $440k, net assets of $27.1m. It reported 4 employees.