Rivers of Steel Heritage Corporation

Analysis

Rivers of Steel Heritage Corporation is a registered charity in United States, based in Homestead, PA. It received its IRS tax-exemption ruling in May 1992, 34 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, Rivers of Steel Heritage Corporation reported income of $6.4m and spending of $3.4m, leaving 47% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.7m to $6.4m (+277%), an average of +39% a year. The sharpest change came in the year to December 2023, when income rose by 86%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Rivers of Steel Heritage Corporation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 92nd percentile within PA. Charities of a similar size with the same main cause include Kleinhans Music Hall Management Inc ($6.4m), Pacific Battleship Center ($6.5m) and John Huntington Art & Polytechnic TR ($6.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 8.7% of the total. Compensation of current officers, directors and key employees was $285k (8.4% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $10.3m against liabilities of $1.1m, net assets of $9.2m. It reported 88 employees.