Historic Beverly Preservation Inc

Analysis

Historic Beverly Preservation Inc is a registered charity in United States, based in Beverly, WV. It received its IRS tax-exemption ruling in April 2002, 24 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, Historic Beverly Preservation Inc reported income of $160k and spending of $172k, spending 108% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $149k to $160k (+6.7%), an average of +1.6% a year. The sharpest change came in the year to December 2021, when income rose by 42%. Over the whole period it spent 124% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Historic Beverly Preservation Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 46th percentile within WV. Charities of a similar size with the same main cause include Iberville Museum Association Inc ($160k), Historic Russellville Inc ($160k) and Leesburg Art Festival Inc ($160k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Other salaries and wages came to $10k. At year end it held assets of $2.2m against liabilities of $277k, net assets of $1.9m.

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.