Total Revenue for Museums, Historical Sites, and Similar Institutions, Establishments Exempt from Federal Income Tax, Employer Firms
This dataset tracks total revenue for museums, historical sites, and similar institutions, establishments exempt from federal income tax, employer firms over time.
Latest Value
19369.00
Year-over-Year Change
47.57%
Date Range
1/1/1998 - 1/1/2022
Summary
This economic trend measures the total revenue for museums, historical sites, and similar tax-exempt institutions in the United States. It provides insight into the financial health and economic impact of these important cultural and educational establishments.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Total Revenue for Museums, Historical Sites, and Similar Institutions, Establishments Exempt from Federal Income Tax, Employer Firms series tracks the revenue generated by tax-exempt organizations in this sector. This data is used by economists, policymakers, and industry analysts to assess the overall performance and economic contributions of these cultural institutions.
Methodology
The data is collected through surveys of tax-exempt employer firms in the relevant industries.
Historical Context
This revenue trend offers valuable context for evaluating the financial sustainability and economic role of museums, historical sites, and similar tax-exempt cultural establishments.
Key Facts
- Museums and historical sites generate over $50 billion in annual revenue.
- The nonprofit cultural sector employs over 2 million people in the U.S.
- Tax-exempt cultural institutions account for a significant portion of GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total revenue generated by tax-exempt museums, historical sites, and similar cultural institutions in the United States.
Q: Why is this trend relevant for users or analysts?
A: This revenue data provides important insights into the financial health and economic contributions of the nonprofit cultural sector, which is vital for understanding broader economic and social trends.
Q: How is this data collected or calculated?
A: The data is collected through surveys of tax-exempt employer firms in the relevant industries.
Q: How is this trend used in economic policy?
A: This revenue data is used by economists, policymakers, and industry analysts to evaluate the performance and economic role of museums, historical sites, and other tax-exempt cultural establishments.
Q: Are there update delays or limitations?
A: The data is published on a regular schedule, but there may be lags or limitations in reporting for some tax-exempt institutions.
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Citation
U.S. Federal Reserve, Total Revenue for Museums, Historical Sites, and Similar Institutions, Establishments Exempt from Federal Income Tax, Employer Firms (REVEF712TAXEPT), retrieved from FRED.