North Myrtle Beach Area Historical Museum

North Myrtle Beach Area Historical Museum faces long-term asset decline and recent significant liabilities despite fluctuating revenues.

EIN: 205341879 · N Myrtle Bch, SC · NTEE: A54 · Updated: 2026-03-28

$70KRevenue

$522KAssets

65/100Mission Score (Good)

A54

About North Myrtle Beach Area Historical Museum

North Myrtle Beach Area Historical Museum (EIN: 205341879) is a nonprofit organization based in N Myrtle Bch, SC, classified under NTEE code A54. The organization reported total revenue of $70K and total assets of $522K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of North Myrtle Beach Area Historical Museum's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The North Myrtle Beach Area Historical Museum demonstrates a consistent commitment to its mission, as evidenced by its NTEE code A54 (Museums, Historical Societies). The organization's financial health shows some volatility in revenue, with a notable increase to $101,229 in the 202406 period, up from $68,953 in 202306 and a low of $2,000 in 202006. Despite this, expenses have generally outpaced revenue in most periods, leading to a gradual decline in assets from $1,038,043 in 201206 to $547,423 in 202406. This trend suggests the museum has been operating at a deficit for an extended period, drawing down its reserves.

Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the consistent negative net income (expenses exceeding revenue) indicates that the organization is not self-sustaining based on its current revenue streams. The absence of reported officer compensation across all filings suggests good transparency regarding executive pay, as no individuals are receiving salaries from the organization, which is common for smaller, volunteer-run museums.

The significant liability of $374,000 in the 202406 period, compared to zero or minimal liabilities in previous years, is a critical point for further investigation. This sudden increase in liabilities could indicate a new debt, a capital project, or other financial obligations that significantly impact the organization's financial stability. Overall, while the museum maintains its mission, its long-term financial sustainability is questionable given the consistent asset depletion and recent substantial increase in liabilities.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates North Myrtle Beach Area Historical Museum with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 15%
programs: 80%
fundraising: 5%

According to IRS 990 filings, North Myrtle Beach Area Historical Museum allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

No officer compensation has been reported across all available filings, indicating that the organization's leadership is likely volunteer-based, which is common for smaller museums and reflects positively on resource allocation.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of North Myrtle Beach Area Historical Museum's IRS 990 filings:

Consistent trend of expenses exceeding revenue, leading to asset depletion over time (e.g., assets decreased from $1,038,043 in 201206 to $547,423 in 202406).
Significant and sudden increase in liabilities to $374,000 in the 202406 period, compared to minimal or zero liabilities in previous years.
Volatile revenue streams, with a low of $2,000 in 202006 and a high of $101,229 in 202406, making financial planning challenging.

Strengths

The following positive indicators were identified for North Myrtle Beach Area Historical Museum:

No reported officer compensation, indicating a volunteer-led organization and efficient use of funds for leadership.
Consistent operation as a historical museum (NTEE A54) for over a decade, demonstrating commitment to its mission.
Maintained substantial assets, even with depletion, suggesting a historical base of support.

Frequently Asked Questions about North Myrtle Beach Area Historical Museum

What caused the significant increase in liabilities to $374,000 in the 202406 period?

The provided data does not specify the nature of this liability. It could be related to a capital project, a loan, or other financial obligations, and warrants further investigation into the full 990 filing for that period.

How does the museum plan to address the consistent trend of expenses exceeding revenue and the resulting asset depletion?

The filings show a long-term trend of expenses surpassing revenue, leading to a decrease in assets from over $1 million to approximately $547,000. The organization would need to either significantly increase its revenue streams or reduce its operational costs to achieve financial sustainability.

What is the detailed breakdown of program, administrative, and fundraising expenses?

The provided summary data does not offer a detailed breakdown of how expenses are allocated across programs, administration, and fundraising. This information is crucial for a comprehensive assessment of spending efficiency.

Filing History

IRS 990 filing history for North Myrtle Beach Area Historical Museum showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2012–2024), North Myrtle Beach Area Historical Museum's revenue has grown by 176.4%, moving from $37K to $101K. Total assets decreased by 47.3% over the same period, from $1.0M to $547K. Total functional expenses rose by 18.7%, from $86K to $102K. In its most recent filing year (2024), North Myrtle Beach Area Historical Museum reported a deficit of $962, with expenses exceeding revenue. The organization holds $374 in liabilities against $547K in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $547K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$101K	$102K	$547K	$374	—	—
2023	$69K	$70K	$549K	$0	—	View 990
2021	$31K	$60K	$577K	$3K	—	—
2020	$2K	$62K	$603K	$0	—	—
2019	$20K	$67K	$645K	$0	—	—
2018	$18K	$69K	$692K	$0	—	—
2017	$19K	$70K	$744K	$0	—	—
2016	$40K	$89K	$795K	$0	—	—
2013	$54K	$231K	$862K	$2K	—	View 990
2012	$37K	$86K	$1.0M	$1K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $101K, expenses of $102K, and assets of $547K (revenue +46.8% year-over-year).
2023: Revenue of $69K, expenses of $70K, and assets of $549K (revenue +124.8% year-over-year).
2021: Revenue of $31K, expenses of $60K, and assets of $577K (revenue +1433.4% year-over-year).
2020: Revenue of $2K, expenses of $62K, and assets of $603K (revenue -90.0% year-over-year).
2019: Revenue of $20K, expenses of $67K, and assets of $645K (revenue +11.1% year-over-year).
2018: Revenue of $18K, expenses of $69K, and assets of $692K (revenue -4.1% year-over-year).
2017: Revenue of $19K, expenses of $70K, and assets of $744K (revenue -53.5% year-over-year).
2016: Revenue of $40K, expenses of $89K, and assets of $795K (revenue -24.7% year-over-year).
2013: Revenue of $54K, expenses of $231K, and assets of $862K (revenue +46.3% year-over-year).
2012: Revenue of $37K, expenses of $86K, and assets of $1.0M.

Data Sources and Methodology

This transparency report for North Myrtle Beach Area Historical 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.