Puget Sound Navy Museum Foundation

Analysis

Puget Sound Navy Museum Foundation is a registered charity in United States, based in Bremerton, WA. It received its IRS tax-exemption ruling in March 1989, 37 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Puget Sound Navy Museum Foundation reported income of $66k and spending of $47k, leaving 29% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $81k to $66k (-19%), an average of -19% a year. The sharpest change came in the year to December 2023, when income dropped by 19%. Over the whole period it spent 54% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Puget Sound Navy Museum Foundation sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 26th percentile, and in the 20th percentile within WA. Charities of a similar size with the same main cause include Perrysburg Area Historic Museum ($66k), Northern Star Theatre Company ($66k) and The S S Columbia Project ($66k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 43% of the total. At year end it held assets of $278k against liabilities of $0, net assets of $278k.