Key West Art & Historical Society Inc

Analysis

Key West Art & Historical Society Inc is a registered charity in United States, based in Key West, FL. It received its IRS tax-exemption ruling in March 1965, 61 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 September 2023, Key West Art & Historical Society Inc reported income of $2.9m and spending of $2.7m, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.1m to $2.9m (+42%), an average of +9.2% a year. The sharpest change came in the year to September 2021, when income rose by 65%. Over the whole period it spent 88% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Key West Art & Historical Society Inc 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 90th percentile within FL. Charities of a similar size with the same main cause include American Civil Liberties Union Fund of the District of Columbia ($2.9m), Chip Hale Center Inc ($2.9m) and Share Supportive Housing and Resources for the Elderly ($2.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 23% and program service revenue 58% of the total. Compensation of current officers, directors and key employees was $149k (5.4% of expenses). Other salaries and wages came to $850k. At year end it held assets of $3.8m against liabilities of $173k, net assets of $3.6m. It reported 33 employees.