Proprietors of the Salem Athenaeum

Analysis

Proprietors of the Salem Athenaeum is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in August 1959, 67 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending March 2023, Proprietors of the Salem Athenaeum reported income of $244k and spending of $284k, spending 116% of what it took in. Across the 5 years on record, from March 2019 to March 2023, income grew from $196k to $244k (+25%), an average of +5.7% a year. The sharpest change came in the year to March 2021, when income rose by 76%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Proprietors of the Salem Athenaeum sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 61st percentile within MA. Charities of a similar size with the same main cause include Iowa City Unesco City of Literature ($244k), Holliston Scholarship Foundation Inc ($244k) and Young Money Finances ($244k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 63% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $53k (19% of expenses). Other salaries and wages came to $50k. At year end it held assets of $1.9m against liabilities of $0, net assets of $1.9m. It reported 4 employees.