Floating Museum NFP

Analysis

Floating Museum NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 2017, 9 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, Floating Museum NFP reported income of $3.0m and spending of $446k, leaving 85% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $468k to $3.0m (+542%), an average of +542% a year. The sharpest change came in the year to December 2023, when income rose by 542%. Over the whole period it spent 19% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Floating Museum NFP sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within IL. Charities of a similar size with the same main cause include Wild Earth Society Incorporated ($3.0m), Education Leaders of Color Inc ($3.0m) and Open Molecular Software Foundation ($3.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 99% and program service revenue 0.2% of the total. At year end it held assets of $3.0m against liabilities of $122k, net assets of $2.9m.