Andover Historic Preservation Corp

Analysis

Andover Historic Preservation Corp is a registered charity in United States, based in Andover, NY. It received its IRS tax-exemption ruling in May 1980, 46 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, Andover Historic Preservation Corp reported income of $175k and spending of $200k, spending 114% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $294k to $175k (-40%), an average of -16% a year. The sharpest change came in the year to June 2022, when income rose by 63%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Andover Historic Preservation Corp sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Mar-Va Theater Performing Arts Center Inc ($175k), Judson Theatre Inc ($175k) and Korean Art Forum Inc ($175k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $57k (29% of expenses). Other salaries and wages came to $35k. At year end it held assets of $545k against liabilities of $134k, net assets of $410k. It reported 3 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.