Historic Sotterley Inc

Analysis

Historic Sotterley Inc is a registered charity in United States, based in Hollywood, MD. It received its IRS tax-exemption ruling in July 1964, 62 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 June 2023, Historic Sotterley Inc reported income of $939k and spending of $1.1m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $939k (-15%), an average of -3.9% a year. The sharpest change came in the year to June 2021, when income dropped by 28%. Over the whole period it spent 105% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Historic Sotterley Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MD. Charities of a similar size with the same main cause include African Missions for Christ ($939k), Charles Stark Laboratory Inc Ret Medical Payments TR ($939k) and PTA New York Congress ($939k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 0.5% of the total. Compensation of current officers, directors and key employees was $52k (4.6% of expenses). Other salaries and wages came to $302k. At year end it held assets of $2.7m against liabilities of $16k, net assets of $2.7m. It reported 13 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.