Varnum Continentals Inc

Analysis

Varnum Continentals Inc is a registered charity in United States, based in E Greenwich, RI. It received its IRS tax-exemption ruling in December 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 September 2023, Varnum Continentals Inc reported income of $183k and spending of $85k, leaving 54% of income unspent that year. Across the 4 years on record, from September 2019 to September 2023, income fell from $244k to $183k (-25%), an average of -9.1% a year. The sharpest change came in the year to September 2023, when income rose by 40%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Varnum Continentals Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 48th percentile within RI. Charities of a similar size with the same main cause include Philadelphia Artists Collective Incorporated ($183k), Dewitt County Museum Assn ($183k) and Buckhead Heritage Society Inc ($183k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 27% of the total. At year end it held assets of $362k against liabilities of $0, net assets of $362k.