Houston Maritime Museum

Analysis

Houston Maritime Museum is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 2000, 26 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 2022, Houston Maritime Museum reported income of $455k and spending of $561k, spending 123% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income grew from $400k to $455k (+14%), an average of +4.4% a year. The sharpest change came in the year to December 2021, when income rose by 94%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Houston Maritime Museum sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 73rd percentile within TX. Charities of a similar size with the same main cause include Friends of the Cameo ($455k), Carnegie Museum Foundation of Jefferson County ($455k) and Legacy Imperative Inc ($455k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 98% and program service revenue 1.6% of the total. Compensation of current officers, directors and key employees was $179k (32% of expenses). Other salaries and wages came to $138k. At year end it held assets of $436k against liabilities of $21k, net assets of $415k. It reported 5 employees.