Gold Coast Railroad Museum Inc

Analysis

Gold Coast Railroad Museum Inc is a registered charity in United States, based in Miami, FL. It received its IRS tax-exemption ruling in January 1960, 66 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 May 2024, Gold Coast Railroad Museum Inc reported income of $317k and spending of $378k, spending 119% of what it took in. Across the 5 years on record, from May 2020 to May 2024, income grew from $294k to $317k (+7.7%), an average of +1.9% a year. The sharpest change came in the year to May 2023, when income rose by 22%. Over the whole period it spent 132% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gold Coast Railroad Museum Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 66th percentile within FL. Charities of a similar size with the same main cause include Friends of Israel Story ($317k), Diaz Music Institute ($317k) and Permian Basin Honor Flight Inc ($316k).

On its Form 990 for the period ending May 2024, revenue came from contributions and grants 33% and program service revenue 49% of the total. Other salaries and wages came to $101k. At year end it held assets of $1.5m against liabilities of $184k, net assets of $1.3m. It reported 11 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.