Somerville Historical Society

Analysis

Somerville Historical Society is a registered charity in United States, based in Somerville, MA. It received its IRS tax-exemption ruling in February 2012, 14 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 March 2023, Somerville Historical Society reported income of $582k and spending of $177k, leaving 70% of income unspent that year. Across the 6 years on record, from March 2018 to March 2023, income grew from $54k to $582k (+979%), an average of +61% a year. The sharpest change came in the year to March 2021, when income rose by 309%. Over the whole period it spent 21% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Somerville Historical Society sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within MA. Charities of a similar size with the same main cause include Chinatown Community Land Trust Inc ($581k), Puppetry in Practice Inc ($582k) and Jamestown Arts Center ($581k).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $64k (37% of expenses). At year end it held assets of $3.8m against liabilities of $5,544, net assets of $3.8m. It reported 2 employees.