Eastern State Penitentiary Historic Site Inc

Analysis

Eastern State Penitentiary Historic Site Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in January 1999, 27 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, Eastern State Penitentiary Historic Site Inc reported income of $7.6m and spending of $7.4m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.7m to $7.6m (+13%), an average of +3.0% a year. The sharpest change came in the year to December 2021, when income rose by 131%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Eastern State Penitentiary Historic Site Inc 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 94th percentile, and in the 92nd percentile within PA. Charities of a similar size with the same main cause include Seattle Symphony Foundation ($7.6m), Sphinx Organization Inc ($7.6m) and Brooklyn Childrens Museum Corp ($7.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $475k (6.4% of expenses). Other salaries and wages came to $2.6m. It paid $72k in professional fundraising fees. At year end it held assets of $23.0m against liabilities of $706k, net assets of $22.3m. It reported 465 employees.