Nahant Preservation Trust Inc

Analysis

Nahant Preservation Trust Inc is a registered charity in United States, based in Nahant, MA. It received its IRS tax-exemption ruling in April 1998, 28 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Nahant Preservation Trust Inc reported income of $439k and spending of $483k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $439k (-59%), an average of -20% a year. The sharpest change came in the year to December 2021, when income rose by 262%. Over the whole period it spent 105% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Nahant Preservation Trust Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 69th percentile within MA. Charities of a similar size with the same main cause include North Union Farmers Market ($439k), Our Health Inc ($439k) and Crown Community Development Corporation Inc ($438k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 38% of the total. At year end it held assets of $1.8m against liabilities of $189k, net assets of $1.6m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.