Cuban Museum Inc

Analysis

Cuban Museum Inc is a registered charity in United States, based in Coral Gables, FL. It received its IRS tax-exemption ruling in November 1998, 28 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 2023, Cuban Museum Inc reported income of $966k and spending of $1.2m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $598k to $966k (+61%), an average of +13% a year. The sharpest change came in the year to December 2020, when income rose by 65%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cuban Museum Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 81st percentile within FL. Charities of a similar size with the same main cause include Appalachian Theatre of the High Country ($966k), Caroga Arts Collective Inc ($966k) and American Mental Health Counselors Assoc ($966k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 5.7% of the total. Other salaries and wages came to $363k. At year end it held assets of $8.6m against liabilities of $948k, net assets of $7.6m. It reported 10 employees.