Historic Muscatine Inc

Analysis

Historic Muscatine Inc is a registered charity in United States, based in Muscatine, IA. It received its IRS tax-exemption ruling in March 1992, 34 years ago. 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 Muscatine Inc reported income of $98k and spending of $214k, spending 217% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $117k to $98k (-16%), an average of -4.3% a year. The sharpest change came in the year to December 2020, when income dropped by 201%. Over the whole period it spent 268% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Historic Muscatine Inc sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 36th percentile, and in the 35th percentile within IA. Charities of a similar size with the same main cause include Portal Rescue Inc ($98k), Housing for Multi-Handicapped Blind ($98k) and Missouri Environmental Education Association ($98k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 78% and program service revenue 1.4% of the total. Compensation of current officers, directors and key employees was $55k (26% of expenses). Other salaries and wages came to $53k. At year end it held assets of $1.4m against liabilities of $3,147, net assets of $1.4m. It reported 4 employees.

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.