Gloucester Maritime Heritage Center Inc

Analysis

Gloucester Maritime Heritage Center Inc is a registered charity in United States, based in Gloucester, MA. It received its IRS tax-exemption ruling in March 2025. 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 June 2020, Gloucester Maritime Heritage Center Inc reported income of $413k and spending of $544k, spending 132% of what it took in. Across the 2 years on record, from June 2019 to June 2020, income fell from $603k to $413k (-31%), an average of -32% a year. The sharpest change came in the year to June 2020, when income dropped by 31%. Over the whole period it spent 139% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Gloucester Maritime Heritage Center Inc sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 68th percentile within MA. Charities of a similar size with the same main cause include Compassion Ministries of Waco Inc ($413k), Seymour Main Street Inc ($413k) and Riverview Productions Inc ($413k).

On its Form 990 for the period ending June 2020, revenue came from contributions and grants 78% and program service revenue 17% of the total. Compensation of current officers, directors and key employees was $55k (10% of expenses). Other salaries and wages came to $127k. At year end it held assets of $2.7m against liabilities of $780k, net assets of $1.9m. It reported 17 employees.