African American Museum of History and Culture at Loray Mill

Analysis

African American Museum of History and Culture at Loray Mill is a registered charity in United States, based in Gastonia, NC. It received its IRS tax-exemption ruling in March 2019, 7 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, African American Museum of History and Culture at Loray Mill reported income of $63k and spending of $64k, spending 101% of its income. Across the 2 years on record, from December 2022 to December 2023, income fell from $95k to $63k (-33%), an average of -33% a year. The sharpest change came in the year to December 2023, when income dropped by 33%. Over the whole period it spent 89% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, African American Museum of History and Culture at Loray Mill sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 23rd percentile within NC. Charities of a similar size with the same main cause include Comision Honorifica Mexicana Americana ($63k), Dance Inc ($63k) and Historic Fraser ($63k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $94k against liabilities of $0, net assets of $94k.