Miami Childrens Museum Inc

Analysis

Miami Childrens Museum Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in July 1984, 42 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Miami Childrens Museum Inc reported income of $10.7m and spending of $11.2m, spending 105% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $9.2m to $10.7m (+16%), an average of +3.0% a year. The sharpest change came in the year to June 2022, when income rose by 101%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Miami Childrens 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 95th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Fountainhead Museum Foundation ($10.6m), Public Media NJ Inc ($10.7m) and Pasadena Playhouse State Theatre of California Inc ($10.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 45% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $330k (3.0% of expenses). Other salaries and wages came to $5.2m. At year end it held assets of $29.4m against liabilities of $1.2m, net assets of $28.2m. It reported 236 employees.