Preservation Worcester Inc

Analysis

Preservation Worcester Inc is a registered charity in United States, based in Worcester, MA. It received its IRS tax-exemption ruling in June 1970, 56 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, Preservation Worcester Inc reported income of $337k and spending of $347k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $460k to $337k (-27%), an average of -7.4% a year. The sharpest change came in the year to December 2022, when income rose by 341%. Over the whole period it spent 58% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Preservation Worcester Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 65th percentile within MA. Charities of a similar size with the same main cause include Rhode Island Black Story Tellers ($337k), The City Choir of Washington ($338k) and Seasteading Institute ($337k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 0.6% of the total. Compensation of current officers, directors and key employees was $110k (32% of expenses). Other salaries and wages came to $55k. At year end it held assets of $2.7m against liabilities of $19k, net assets of $2.7m. It reported 6 employees.