Texas Energy Museum Inc

Analysis

Texas Energy Museum Inc is a registered charity in United States, based in Beaumont, TX. It received its IRS tax-exemption ruling in December 1987, 39 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 Energy Museum Inc reported income of $774k and spending of $526k, leaving 32% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $564k to $774k (+37%), an average of +8.2% a year. The sharpest change came in the year to December 2023, when income rose by 54%. Over the whole period it spent 86% 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 Energy Museum Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within TX. Charities of a similar size with the same main cause include Central Pennsylvania Festival of the Arts Inc ($774k), Faribault Art Center Inc ($774k) and America on Wheels Inc ($774k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 115% and program service revenue 1.1% of the total. Other salaries and wages came to $153k. At year end it held assets of $4.0m against liabilities of $40k, net assets of $4.0m. It reported 10 employees.