Maritime and Seafood Industry Museum of Biloxi Inc

Analysis

Maritime and Seafood Industry Museum of Biloxi Inc is a registered charity in United States, based in Biloxi, MS. It received its IRS tax-exemption ruling in January 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 (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, Maritime and Seafood Industry Museum of Biloxi Inc reported income of $2.4m and spending of $739k, leaving 70% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $657k to $2.4m (+271%), an average of +39% a year. The sharpest change came in the year to September 2023, when income rose by 176%. Over the whole period it spent 68% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Maritime and Seafood Industry Museum of Biloxi Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within MS. Charities of a similar size with the same main cause include Dogwood Arts Festival Inc ($2.4m), Ascend Performing Arts Inc ($2.4m) and Cultural Arts Center at Glen Allen Foundation ($2.4m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 91% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $102k (14% of expenses). Other salaries and wages came to $157k. At year end it held assets of $7.5m against liabilities of $782k, net assets of $6.7m. It reported 29 employees.