Colonel Museum Inc

Analysis

Colonel Museum Inc is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in February 1986, 40 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 September 2023, Colonel Museum Inc reported income of $1.2m and spending of $1.2m, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $878k to $1.2m (+33%), an average of +7.3% a year. The sharpest change came in the year to September 2021, when income rose by 95%. Over the whole period it spent 118% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Colonel Museum Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 85th percentile within TX. Charities of a similar size with the same main cause include Garden of Faith Preschool & School of Arts Inc ($1.2m), Concord Conservatory of Music ($1.2m) and Chicano Park Museum and Cultual Center ($1.2m).

On its Form 990 for the period ending September 2023, revenue came from program service revenue 80% of the total. Compensation of current officers, directors and key employees was $10k (0.9% of expenses). Other salaries and wages came to $449k. At year end it held assets of $1.1m against liabilities of $527k, net assets of $557k.

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.