Westfield Historical Society

Analysis

Westfield Historical Society is a registered charity in United States, based in Westfield, NJ. It received its IRS tax-exemption ruling in May 1972, 54 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, Westfield Historical Society reported income of $132k and spending of $188k, spending 142% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $163k to $132k (-19%), an average of -5.1% a year. The sharpest change came in the year to December 2021, when income dropped by 42%. Over the whole period it spent 125% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Westfield Historical Society sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 52nd percentile within NJ. Charities of a similar size with the same main cause include Cedarcrest High School Ptsa 2 16 35 ($132k), International Association of Fire Fighters Local 4553 ($132k) and Ipswich Education Foundation Inc ($132k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 9.9% of the total. Compensation of current officers, directors and key employees was $33k (18% of expenses). At year end it held assets of $2.1m against liabilities of $77k, net assets of $2.0m. It reported 2 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.