Maryland Technology Museum Inc

Analysis

Maryland Technology Museum Inc is a registered charity in United States, based in Hunt Valley, MD. It received its IRS tax-exemption ruling in May 2018, 8 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 private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Maryland Technology Museum Inc reported income of $383k and spending of $391k, spending 102% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $1.2m to $383k (-67%), an average of -31% a year. The sharpest change came in the year to December 2021, when income rose by 258%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Maryland Technology Museum Inc sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 66th percentile within MD. Charities of a similar size with the same main cause include Columbus Area Arts Council ($383k), Alliance Francaise de Saint Louis ($383k) and Mennello Museum of American Art Friends Inc ($383k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 100% of the total. At year end it held assets of $41k against liabilities of $12, net assets of $41k.

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.