Fairfield Historical Society

Analysis

Fairfield Historical Society is a registered charity in United States, based in Fairfield, CT. It received its IRS tax-exemption ruling in October 1950, 76 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 2024, Fairfield Historical Society reported income of $1.1m and spending of $1.5m, spending 131% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $781k to $1.1m (+44%), an average of +9.5% a year. The sharpest change came in the year to June 2021, when income rose by 45%. Over the whole period it spent 124% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fairfield Historical Society sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within CT. Charities of a similar size with the same main cause include Haight Street Art Center ($1.1m), Newfilmmakers Los Angeles ($1.1m) and Alberta Abbey Foundation ($1.1m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 63% and program service revenue 7.5% of the total. Compensation of current officers, directors and key employees was $289k (20% of expenses). Other salaries and wages came to $555k. At year end it held assets of $13.2m against liabilities of $172k, net assets of $13.0m. It reported 24 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.