Museum of Science and Industry Inc

Analysis

Museum of Science and Industry Inc is a registered charity in United States, based in Tampa, FL. It received its IRS tax-exemption ruling in March 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 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 September 2023, Museum of Science and Industry Inc reported income of $4.4m and spending of $3.6m, spending 81% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.3m to $4.4m (+34%), an average of +7.6% a year. The sharpest change came in the year to September 2022, when income rose by 52%. Over the whole period it spent 113% 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 Science and Industry Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Maritime Museum Association of San Diego ($4.4m), Cny Arts Inc ($4.4m) and Montclair Art Museum ($4.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 48% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $208k (5.8% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $2.8m against liabilities of $668k, net assets of $2.1m. It reported 116 employees.