Paul Revere Memorial Assoc Corp

Analysis

Paul Revere Memorial Assoc Corp is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in February 1945, 81 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Paul Revere Memorial Assoc Corp reported income of $2.2m and spending of $1.3m, leaving 41% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $2.2m (+27%), an average of +6.2% a year. The sharpest change came in the year to December 2021, when income rose by 167%. Over the whole period it spent 67% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Paul Revere Memorial Assoc Corp sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within MA. Charities of a similar size with the same main cause include California Symphony Orchestra Inc ($2.2m), Poverty and Social Reform Institute ($2.2m) and Sewell C Biggs Trust 12-29-89 ($2.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $188k (14% of expenses). Other salaries and wages came to $590k. At year end it held assets of $16.0m against liabilities of $228k, net assets of $15.8m. It reported 51 employees.