Texas Energy Museum Foundation

Analysis

Texas Energy Museum Foundation is a registered charity in United States, based in Beaumont, TX. It received its IRS tax-exemption ruling in November 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 supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Texas Energy Museum Foundation reported income of $2.4m and spending of $121k, leaving 95% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $77k to $2.4m (+3072%), an average of +137% a year. The sharpest change came in the year to December 2023, when income rose by 4755%. Over the whole period it spent 15% 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 Foundation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include El Rancho de Las Golondrinas Inc ($2.4m), Erie Philharmonic ($2.4m) and Northwest African American Museum Inc ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. Compensation of current officers, directors and key employees was $20k (17% of expenses). At year end it held assets of $4.2m against liabilities of $0, net assets of $4.2m.