Essex Historical Society & Shipbuilding Museum Inc

Analysis

Essex Historical Society & Shipbuilding Museum Inc is a registered charity in United States, based in Essex, MA. It received its IRS tax-exemption ruling in May 1976, 50 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, Essex Historical Society & Shipbuilding Museum Inc reported income of $270k and spending of $295k, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $199k to $270k (+36%), an average of +8.0% a year. The sharpest change came in the year to December 2023, when income rose by 17%. Over the whole period it spent 110% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Essex Historical Society & Shipbuilding Museum Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 62nd percentile within MA. Charities of a similar size with the same main cause include Michigan Firehouse Museum and Education Center ($270k), Tofte Lake Center ($270k) and Russian Christian Radio Inc ($270k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 14% of the total. Other salaries and wages came to $153k. At year end it held assets of $1.3m against liabilities of $9,633, net assets of $1.3m. It reported 8 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.