Texas Museums & Halls of Fame

Analysis

Texas Museums & Halls of Fame is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in July 1991, 35 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 December 2023, Texas Museums & Halls of Fame reported income of $671k and spending of $689k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $629k to $671k (+6.7%), an average of +1.6% a year. The sharpest change came in the year to December 2021, when income rose by 47%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Texas Museums & Halls of Fame sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 79th percentile within TX. Charities of a similar size with the same main cause include Maumee Valley Broadcasting ($671k), Fiasco Theater ($671k) and Friends of Point Betsies Lighthouse Inc ($671k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 22% of the total. Other salaries and wages came to $342k. At year end it held assets of $631k against liabilities of $407k, net assets of $224k. It reported 11 employees.