The Bascom Corporation

Analysis

The Bascom Corporation is a registered charity in United States, based in Highlands, NC. It received its IRS tax-exemption ruling in March 2000, 26 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 2022, The Bascom Corporation reported income of $2.6m and spending of $1.8m, leaving 30% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $2.4m to $2.6m (+5.5%), an average of +1.8% a year. The sharpest change came in the year to December 2022, when income rose by 61%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Bascom Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within NC. Charities of a similar size with the same main cause include Academy Center of the Arts Inc ($2.5m), Mid-America Science Museum ($2.6m) and Pratt Fine Arts Center ($2.5m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 90% and program service revenue 7.2% of the total. Compensation of current officers, directors and key employees was $116k (6.5% of expenses). Other salaries and wages came to $459k. It paid $82k in professional fundraising fees. At year end it held assets of $12.1m against liabilities of $103k, net assets of $12.0m. It reported 13 employees.