Newburyport Maritime Society Inc

Analysis

Newburyport Maritime Society Inc is a registered charity in United States, based in Newburyport, MA. It received its IRS tax-exemption ruling in April 1969, 57 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 2023, Newburyport Maritime Society Inc reported income of $347k and spending of $459k, spending 132% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $303k to $347k (+15%), an average of +3.5% a year. The sharpest change came in the year to December 2021, when income rose by 87%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Newburyport Maritime Society Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 66th percentile within MA. Charities of a similar size with the same main cause include Pioneer Arizona Foundation ($347k), Dry Stone Conservancy Inc ($347k) and Castle Museum ($347k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $146k (32% of expenses). Other salaries and wages came to $125k. It paid $1,835 in professional fundraising fees. At year end it held assets of $2.3m against liabilities of $4,796, net assets of $2.3m. It reported 12 employees.