Historic Salem Inc

Analysis

Historic Salem Inc is a registered charity in United States, based in Salem, MA. It received its IRS tax-exemption ruling in July 1968, 58 years ago. 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 March 2024, Historic Salem Inc reported income of $166k and spending of $123k, leaving 26% of income unspent that year. Across the 5 years on record, from March 2020 to March 2024, income grew from $135k to $166k (+24%), an average of +5.5% a year. The sharpest change came in the year to March 2022, when income rose by 105%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Historic Salem Inc sits at the 49th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 54th percentile within MA. Charities of a similar size with the same main cause include Regions Beyond Evangelism ($166k), Chevra Kadisha Society ($166k) and Ohio Congress of Parents & Teachers ($166k).

On its Form 990 for the period ending March 2024, revenue came from contributions and grants 20% and program service revenue 6.6% of the total. Compensation of current officers, directors and key employees was $12k (9.8% of expenses). At year end it held assets of $845k against liabilities of $1,490, net assets of $844k.