Nantucket Historical Association

Analysis

Nantucket Historical Association is a registered charity in United States, based in Nantucket, MA. It received its IRS tax-exemption ruling in June 1934, 92 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, Nantucket Historical Association reported income of $7.7m and spending of $8.8m, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.5m to $7.7m (-8.7%), an average of -2.2% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Nantucket Historical Association sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MA. Charities of a similar size with the same main cause include Mississippi Gulf Coast Model Railroad Club Museum & Education D ($7.7m), Portland Center Stage ($7.7m) and Glimmerglass Opera Theatre Inc ($7.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $435k (4.9% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $48.3m against liabilities of $525k, net assets of $47.7m. It reported 83 employees.