Science Museum Oklahoma Inc

Analysis

Science Museum Oklahoma Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in April 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 June 2023, Science Museum Oklahoma Inc reported income of $14.8m and spending of $11.3m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $8.1m to $14.8m (+84%), an average of +16% a year. The sharpest change came in the year to June 2023, when income rose by 58%. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Science Museum Oklahoma Inc sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within OK. Charities of a similar size with the same main cause include The Louisville Orchestra Inc ($14.8m), The International Coalition of Historic Ite Museums of Conscience ($14.8m) and Capital Concerts Inc ($14.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 46% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $787k (7.0% of expenses). Other salaries and wages came to $4.4m. At year end it held assets of $89.0m against liabilities of $3.4m, net assets of $85.6m. It reported 268 employees.