Museum of the Albemarle Inc

Analysis

Museum of the Albemarle Inc is a registered charity in United States, based in Elizabeth Cty, NC. It received its IRS tax-exemption ruling in April 1965, 61 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, Museum of the Albemarle Inc reported income of $138k and spending of $126k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $152k to $138k (-9.7%), an average of -2.5% a year. The sharpest change came in the year to December 2021, when income rose by 234%. Over the whole period it spent 83% 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 Albemarle Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 43rd percentile within NC. Charities of a similar size with the same main cause include Artsrock of Rockland Inc ($138k), Pieces of a Dream Inc ($138k) and Panhandle Pioneer Settlement Inc ($138k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 20% and program service revenue 0.5% of the total. At year end it held assets of $2.5m against liabilities of $0, net assets of $2.5m.