Quincy Mine Hoist Association

Analysis

Quincy Mine Hoist Association is a registered charity in United States, based in Hancock, MI. It received its IRS tax-exemption ruling in December 1965, 61 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 December 2023, Quincy Mine Hoist Association reported income of $787k and spending of $643k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $513k to $787k (+54%), an average of +11% a year. The sharpest change came in the year to December 2021, when income rose by 85%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Quincy Mine Hoist Association sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 76th percentile within MI. Charities of a similar size with the same main cause include Alarm Will Sound Inc ($787k), Ten Chimneys Foundation Inc ($787k) and Historical Society of Princeton New Jersey ($787k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.1% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $64k (9.9% of expenses). Other salaries and wages came to $189k. At year end it held assets of $3.1m against liabilities of $514k, net assets of $2.5m. It reported 21 employees.