Detroit Historical Society

Analysis

Detroit Historical Society is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in October 1955, 71 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, Detroit Historical Society reported income of $8.6m and spending of $5.7m, leaving 33% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.7m to $8.6m (+131%), an average of +23% a year. The sharpest change came in the year to June 2023, when income rose by 87%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Detroit Historical Society sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within MI. Charities of a similar size with the same main cause include Nebraska Public Media Foundation Inc ($8.6m), Gateway Creative Broadcasting Inc ($8.6m) and Gina Gibney Dance Inc ($8.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 93% and program service revenue 4.7% of the total. Compensation of current officers, directors and key employees was $533k (9.3% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $9.0m against liabilities of $374k, net assets of $8.7m. It reported 90 employees.