Historic Ithaca Inc

Analysis

Historic Ithaca Inc is a registered charity in United States, based in Ithaca, NY. It received its IRS tax-exemption ruling in December 1970, 56 years ago. 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 December 2023, Historic Ithaca Inc reported income of $743k and spending of $479k, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $409k to $743k (+82%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 77%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Historic Ithaca Inc sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within NY. Charities of a similar size with the same main cause include Big Brothers Big Sisters of Southern Maine ($743k), Casa Otonal Inc ($743k) and Minnesota Voice ($743k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 0.9% of the total. Compensation of current officers, directors and key employees was $66k (14% of expenses). Other salaries and wages came to $244k. At year end it held assets of $692k against liabilities of $211k, net assets of $481k. It reported 8 employees.