Nantucket Atheneum

Analysis

Nantucket Atheneum is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in December 1943, 83 years ago. 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 December 2023, Nantucket Atheneum reported income of $3.6m and spending of $3.3m, spending 93% of its income. Across the 6 years on record, from June 2019 to December 2023, income grew from $2.5m to $3.6m (+45%), an average of +7.7% a year. The sharpest change came in the year to December 2020, when income rose by 179%. Over the whole period it spent 93% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Nantucket Atheneum sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 89th percentile within MA. Charities of a similar size with the same main cause include Delaware HIV Services Inc ($3.6m), Boys & Girls Clubs Inc ($3.6m) and Joliet Junior College Foundation ($3.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 72% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $219k (6.6% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $29.9m against liabilities of $2.1m, net assets of $27.9m. It reported 30 employees.