Navy Museum Development Foundation

Analysis

Navy Museum Development Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in May 2021, 5 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, Navy Museum Development Foundation reported income of $4.1m and spending of $1.2m, leaving 70% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.7m to $4.1m (+137%), an average of +137% a year. The sharpest change came in the year to December 2023, when income rose by 137%. Over the whole period it spent 29% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Navy Museum Development Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 77th percentile within DC. Charities of a similar size with the same main cause include Venice Theatre Inc ($4.1m), Mariners Museum TR No 2 P03152009 ($4.1m) and Cafe 1040 Inc ($4.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $5.6m against liabilities of $2.1m, net assets of $3.5m.