Salem Historical Society

Analysis

Salem Historical Society is a registered charity in United States, based in Salem, VA. It received its IRS tax-exemption ruling in January 1980, 46 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, Salem Historical Society reported income of $189k and spending of $305k, spending 161% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $261k to $189k (-27%), an average of -7.7% a year. The sharpest change came in the year to June 2020, when income rose by 28%. Over the whole period it spent 119% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Salem Historical Society sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 52nd percentile within VA. Charities of a similar size with the same main cause include Opry TR Fund Inc ($189k), Terrebonne Historical Cultural Society Inc ($189k) and Virginia Childrens Chorus ($189k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 6.5% of the total. Compensation of current officers, directors and key employees was $123k (40% of expenses). At year end it held assets of $3.6m against liabilities of $4,943, net assets of $3.6m. It reported 3 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.