Galveston Historical Foundation Inc

Analysis

Galveston Historical Foundation Inc is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in March 1957, 69 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, Galveston Historical Foundation Inc reported income of $6.5m and spending of $7.8m, spending 121% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.7m to $6.5m (+38%), an average of +8.4% a year. The sharpest change came in the year to June 2021, when income rose by 322%. Over the whole period it spent 73% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Galveston Historical Foundation Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 95th percentile within TX. Charities of a similar size with the same main cause include Seaport Museum New York ($6.5m), Figge Art Museum ($6.5m) and Center for the Art of Translation ($6.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 42% and program service revenue 18% of the total. Other salaries and wages came to $2.3m. At year end it held assets of $31.6m against liabilities of $3.4m, net assets of $28.3m. It reported 72 employees.