Worcester Historical Museum

Analysis

Worcester Historical Museum is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in June 1944, 82 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Worcester Historical Museum reported income of $2.0m and spending of $2.0m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.1m to $2.0m (-51%), an average of -16% a year. The sharpest change came in the year to June 2022, when income rose by 137%. Over the whole period it spent 73% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Worcester Historical Museum 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 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include State Science and Technology Institute ($2.0m), American Association for State and Local History ($2.0m) and Arts & Learning Corporation ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 101% and program service revenue 2.2% of the total. Compensation of current officers, directors and key employees was $140k (6.9% of expenses). Other salaries and wages came to $561k. At year end it held assets of $18.3m against liabilities of $115k, net assets of $18.2m. It reported 20 employees.