Joliet Area Historical Museum

Analysis

Joliet Area Historical Museum is a registered charity in United States, based in Joliet, IL. It received its IRS tax-exemption ruling in March 2000, 26 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 June 2023, Joliet Area Historical Museum reported income of $2.0m and spending of $1.4m, leaving 29% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $750k to $2.0m (+172%), an average of +28% a year. The sharpest change came in the year to June 2022, when income rose by 114%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Joliet Area Historical Museum sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within IL. Charities of a similar size with the same main cause include Love Station Inc ($2.0m), Nu Deco Ensemble Inc ($2.0m) and Good Energy Collective Incorporated ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 67% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $95k (6.6% of expenses). Other salaries and wages came to $791k. At year end it held assets of $1.5m against liabilities of $146k, net assets of $1.4m. It reported 75 employees.