Hanford Mills Museum at East Meredith

Analysis

Hanford Mills Museum at East Meredith is a registered charity in United States, based in East Meredith, NY. It received its IRS tax-exemption ruling in November 1973, 53 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hanford Mills Museum at East Meredith reported income of $745k and spending of $708k, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $731k to $745k (+1.9%), an average of +0.5% a year. The sharpest change came in the year to December 2021, when income rose by 31%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hanford Mills Museum at East Meredith sits at the 82nd percentile: it is larger than about 82% 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 Create Portage County Inc ($745k), Midtown Utica Community Center ($745k) and Dcenter Inc ($744k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 87% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $70k (9.9% of expenses). Other salaries and wages came to $278k. At year end it held assets of $2.4m against liabilities of $186k, net assets of $2.2m. It reported 17 employees.