Charleston Museum

Analysis

Charleston Museum is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in May 1950, 76 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, Charleston Museum reported income of $3.2m and spending of $2.7m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.5m to $3.2m (+28%), an average of +6.4% a year. The sharpest change came in the year to December 2021, when income rose by 36%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Charleston Museum sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 92nd percentile within SC. Charities of a similar size with the same main cause include Collier County Agricultural Fair and Exposition Inc ($3.2m), Florida Holocaust Museum Inc ($3.2m) and Karamu House ($3.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $150k (5.5% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $22.8m against liabilities of $123k, net assets of $22.7m. It reported 68 employees.