Palm Beach Maritime Museum Inc

Analysis

Palm Beach Maritime Museum Inc is a registered charity in United States, based in Lantana, FL. It received its IRS tax-exemption ruling in January 1975, 51 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Palm Beach Maritime Museum Inc reported income of $13.8m and spending of $13.8m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $9.8m to $13.8m (+42%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 20%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Palm Beach Maritime Museum Inc 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 FL. Charities of a similar size with the same main cause include Arizona Science Center ($13.8m), Nasher Sculpture Center ($13.9m) and Japanese American National Museum ($13.8m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 88% of the total. At year end it held assets of $20.4m against liabilities of $18.3m, net assets of $2.1m. It reported 207 employees.