Florence Museum
EIN: 570365580 · Florence, SC · NTEE: A50
| Metric | Value |
|---|---|
| Total Revenue | $213K |
| Total Expenses | $90K |
| Net Assets | $1.1M |
Is Florence Museum Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Florence Museum
Florence Museum (EIN: 570365580) is a nonprofit organization based in Florence, SC, classified under NTEE code A50. The organization reported total revenue of $213K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Florence Museum's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Florence Museum is a small nonprofit that has been operating for 4 years, with 10 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of -17.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $30K |
| Total Expenses | $90K |
| Surplus / Deficit | $-60,286 |
| Total Assets | $1.1M |
| Net Assets | $1.1M |
| Operating Margin | -201.0% |
| Months of Reserves | 142.8 months |
Financial Health Grade: B
In 2024, Florence Museum reported a deficit of $60K with expenses exceeding revenue, holds 142.8 months of operating reserves (strong position).
Financial Trends
Over 10 years of filings (2011–2024), Florence Museum's revenue has declined at a compound annual growth rate (CAGR) of -17.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -60.0% | +38.8% | -1.3% |
| 2023 | +287.9% | +245.6% | +3.2% |
| 2022 | -14.9% | -77.6% | -1.3% |
| 2019 | -66.9% | -9.9% | -4.5% |
| 2017 | -73.8% | -48.8% | -3.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2022 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Florence Museum has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Florence Museum with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $60K, with expenses exceeding revenue.
Frequently Asked Questions about Florence Museum
Is Florence Museum a legitimate charity?
Based on AI analysis of IRS 990 filings, Florence Museum (EIN: 570365580) insufficient data. 0 red flags identified, 0 strengths noted.
How does Florence Museum spend its money?
Detailed spending breakdown data is not yet available for Florence Museum. Check back for updated IRS 990 analysis.
Are donations to Florence Museum tax-deductible?
Florence Museum is registered as a tax-exempt nonprofit (EIN: 570365580). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Florence Museum located?
Florence Museum is headquartered in Florence, South Carolina and files with the IRS under EIN 570365580. It is classified under NTEE code A50.
How many years of IRS 990 filings does Florence Museum have?
Florence Museum has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $213K in total revenue.
Filing History
IRS 990 filing history for Florence Museum showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2024), Florence Museum's revenue has declined by 91.2%, moving from $343K to $30K. Total assets increased by 51.5% over the same period, from $709K to $1.1M. Total functional expenses fell by 66.1%, from $266K to $90K. In its most recent filing year (2024), Florence Museum reported a deficit of $60K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $30K | $90K | $1.1M | $0 | — | View 990 |
| 2023 | $75K | $65K | $1.1M | $0 | — | View 990 |
| 2022 | $19K | $19K | $1.1M | $0 | — | View 990 |
| 2019 | $23K | $84K | $1.1M | $0 | — | — |
| 2017 | $69K | $93K | $1.1M | $0 | — | — |
| 2015 | $262K | $182K | $1.2M | $0 | — | View 990 |
| 2014 | $297K | $202K | $1.1M | $0 | — | View 990 |
| 2013 | $433K | $266K | $977K | $0 | — | View 990 |
| 2012 | $366K | $261K | $806K | $0 | — | View 990 |
| 2011 | $343K | $266K | $709K | $344 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $30K, expenses of $90K, and assets of $1.1M (revenue -60.0% year-over-year).
- 2023: Revenue of $75K, expenses of $65K, and assets of $1.1M (revenue +287.9% year-over-year).
- 2022: Revenue of $19K, expenses of $19K, and assets of $1.1M (revenue -14.9% year-over-year).
- 2019: Revenue of $23K, expenses of $84K, and assets of $1.1M (revenue -66.9% year-over-year).
- 2017: Revenue of $69K, expenses of $93K, and assets of $1.1M (revenue -73.8% year-over-year).
- 2015: Revenue of $262K, expenses of $182K, and assets of $1.2M (revenue -11.8% year-over-year).
- 2014: Revenue of $297K, expenses of $202K, and assets of $1.1M (revenue -31.4% year-over-year).
- 2013: Revenue of $433K, expenses of $266K, and assets of $977K (revenue +18.4% year-over-year).
- 2012: Revenue of $366K, expenses of $261K, and assets of $806K (revenue +6.7% year-over-year).
- 2011: Revenue of $343K, expenses of $266K, and assets of $709K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Florence Museum:
Data Sources and Methodology
This transparency report for Florence Museum is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.