Penn Brad Historical Oil Well Corporation

Analysis

Penn Brad Historical Oil Well Corporation is a registered charity in United States, based in Bradford, PA. It received its IRS tax-exemption ruling in July 2014, 12 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, Penn Brad Historical Oil Well Corporation reported income of $71k and spending of $40k, leaving 44% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $47k to $71k (+50%), an average of +50% a year. The sharpest change came in the year to December 2023, when income rose by 50%. Over the whole period it spent 63% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Penn Brad Historical Oil Well Corporation sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within PA. Charities of a similar size with the same main cause include Eighth Air Force Historical Society Inc ($71k), Arkansas Association of Instructional Media ($71k) and Trifecta Dance Collective NFP ($71k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 11% of the total. At year end it held assets of $438k against liabilities of $1,619, net assets of $437k.