Florida Association of Museums Foundation Inc

Analysis

Florida Association of Museums Foundation Inc is a registered charity in United States, based in Tallahassee, FL. It received its IRS tax-exemption ruling in June 1992, 34 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 December 2022, Florida Association of Museums Foundation Inc reported income of $151k and spending of $171k, spending 113% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $79k to $151k (+91%), an average of +24% a year. The sharpest change came in the year to December 2022, when income rose by 109%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florida Association of Museums Foundation Inc sits at the 53rd percentile: it is larger than about 53% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 51st percentile within FL. Charities of a similar size with the same main cause include Historical Society of Wells and Ogunquit Inc ($151k), US India Friendship Alliance Inc ($151k) and Ernie Hall Aviation Museum Inc ($151k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 68% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $37k (22% of expenses). At year end it held assets of $212k against liabilities of $18k, net assets of $194k.