Rhode Island Historical Society

Analysis

Rhode Island Historical Society is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in April 1925, 101 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 June 2023, Rhode Island Historical Society reported income of $4.1m and spending of $3.1m, leaving 24% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.6m to $4.1m (+15%), an average of +3.7% a year. The sharpest change came in the year to June 2021, when income rose by 103%. Over the whole period it spent 83% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Rhode Island Historical Society sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 88th percentile within RI. Charities of a similar size with the same main cause include University Enterprise Laboratories Inc ($4.1m), Hudson Valley Shakespeare Festival Inc ($4.1m) and South Shore Conservatory of Music Inc ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 68% and program service revenue 2.5% of the total. Compensation of current officers, directors and key employees was $200k (6.4% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $28.4m against liabilities of $238k, net assets of $28.1m. It reported 55 employees.