Historic Worthington Inc

Analysis

Historic Worthington Inc is a registered charity in United States, based in Worthington, MN. It received its IRS tax-exemption ruling in April 2004, 22 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 December 2019, Historic Worthington Inc reported income of $79k and spending of $123k, spending 155% of what it took in. Across the 2 years on record, from December 2018 to December 2019, income fell from $104k to $79k (-24%), an average of -24% a year. The sharpest change came in the year to December 2019, when income dropped by 24%. Over the whole period it spent 146% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Historic Worthington Inc sits at the 35th percentile: it is larger than about 34% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 28th percentile within MN. Charities of a similar size with the same main cause include Apple Country Woodcrafters ($79k), Colquitt County Arts Foundation Inc ($79k) and Bellingham Chamber Chorale ($79k).

On its Form 990 for the period ending December 2019, revenue came from contributions and grants 34% and program service revenue 37% of the total. Other salaries and wages came to $39k. At year end it held assets of $1.8m against liabilities of -$4,943, net assets of $1.8m. It reported 2 employees.