USS Midway Museum
Nonprofit profile at a glance
- EIN
- 330556416
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- San Diego, CA, US
- Phone
- (619) 398-8280
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Museum, Museum Activities
Reported finances
- Revenue
- $39,443,527
- Expenses
- $36,809,326
- Assets
- $120,537,125
- Liabilities
- $9,294,019
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
34 people listed
Executive titles in this filing
- RADM TERRY KRAFT (President & CEO)
Highest reported compensation
- RADM TERRY KRAFT (President & CEO): $355,001 total reported compensation
- PHILIP HAMILTON (CFO (RETIRED)): $290,806 total reported compensation
- LEONARD SANTIAGO (DIR OF ENGINEERING): $284,494 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The USS Midway Museum preserves the legacy of the USS Midway aircraft carrier and serves as a living symbol of freedom, offering immersive exhibits, educational programs, and events that honor the service of military personnel and engage the public in naval history.
What it reported doing in 2024
The uss midway museum is a dynamic nonprofit naval aviation museum whose program elements include educational curriculum and class visits for more than 40,000 students annually; an active sleepover program for youth groups; ongoing development of naval aviation exhibits; hosting more than 250 private events a year; managing an active volunteer corps in excess of 850; and providing necessary program safety and security.the museum is a regional resource for a variety of nonprofit organizations, including education, and regularly hosts community, business, and civic events. Its vision is to be america's living symbol of freedom.
Operating model
- Revenue model
- Earned-program. 76% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 68
- Transparency & Controls: 85
- Accountability: 98
- Sustainability: 65
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 73.3%; rating input score 73
- Program expense ratio: 82%; rating input score 82
- Fundraising efficiency: $1.33 raised per $1 spent on fundraising; rating input score 4; 4th percentile among comparable filings
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 3rd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 91.5%; rating input score 92; 21st percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 96.2%; rating input score 96; 30th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.7%; rating input score 59; 59th percentile among comparable filings
- Total-asset coverage ratio: 3.27; rating input score 77; 77th percentile among comparable filings
- Liabilities to assets ratio: 0.08; rating input score 78; 78th percentile among comparable filings
- Officer compensation ratio: 5%; rating input score 50; 50th percentile among comparable filings
Growth
- Program expense growth: 7.1% per year; rating input score 100; 57th percentile among comparable filings
- Revenue growth: 5.2% per year; rating input score 100; 45th percentile among comparable filings
- Asset growth: 8.7% per year; rating input score 100; 59th percentile among comparable filings
Details
- What they do: 7 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 73.3% of revenue deployed · 82% of spending went to programs
- Governance: 25 of 26 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $30.2M in reported program spending
- Leadership: top reported pay $355K · 34 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $5.5M reported
- Consistency: 29 of 31 current checks pass · 2 findings to review
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 15 filed money-flow records
- Related organizations: 7 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Fundraising efficiency scored 4/100.
- Review — Sustainability: Operating margin scored 59/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Officer compensation ratio scored 50/100.