Preservation Society of Charleston

Analysis

Preservation Society of Charleston is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in April 1961, 65 years ago. 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 June 2024, Preservation Society of Charleston reported income of $2.8m and spending of $2.5m, spending 87% of its income. Across the 5 years on record, from June 2020 to June 2024, income fell from $4.2m to $2.8m (-33%), an average of -9.6% a year. The sharpest change came in the year to June 2024, when income rose by 33%. Over the whole period it spent 64% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Preservation Society of Charleston sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 91st percentile within SC. Charities of a similar size with the same main cause include Jewish Community Federation of Greater Chattanooga ($2.8m), Duo Dogs Inc ($2.8m) and Boy Scouts of America ($2.8m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 44% and program service revenue 8.3% of the total. Compensation of current officers, directors and key employees was $273k (11% of expenses). Other salaries and wages came to $945k. At year end it held assets of $11.0m against liabilities of $88k, net assets of $11.0m. It reported 32 employees.