Historic Wilmington Foun Inc

Analysis

Historic Wilmington Foun Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in February 1967, 59 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 2023, Historic Wilmington Foun Inc reported income of $447k and spending of $535k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $429k to $447k (+4.1%), an average of +1.0% a year. The sharpest change came in the year to December 2022, when income rose by 64%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Historic Wilmington Foun Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within NC. Charities of a similar size with the same main cause include South Dakota News Watch ($446k), Ausable Club Preservation Foundation ($447k) and Brooklyn Poets Inc ($446k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 1.9% of the total. Other salaries and wages came to $235k. At year end it held assets of $1.6m against liabilities of $75k, net assets of $1.5m.