Lake Pontchartrain Basin Maritime Museum Inc

Analysis

Lake Pontchartrain Basin Maritime Museum Inc is a registered charity in United States, based in Madisonville, LA. It received its IRS tax-exemption ruling in July 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, Lake Pontchartrain Basin Maritime Museum Inc reported income of $545k and spending of $561k, spending 103% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $349k to $545k (+56%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 724%. Over the whole period it spent 138% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lake Pontchartrain Basin Maritime Museum Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 70th percentile within LA. Charities of a similar size with the same main cause include Skylight Theatre Company ($545k), Goshen Theater Inc ($545k) and Space on the Farm Inc ($545k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 25% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $48k (8.5% of expenses). Other salaries and wages came to $91k. At year end it held assets of $1.7m against liabilities of $305k, net assets of $1.4m. It reported 9 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.