Preservation Society of Asheville and Buncombe County Inc

Analysis

Preservation Society of Asheville and Buncombe County Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in December 1977, 49 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 June 2024, Preservation Society of Asheville and Buncombe County Inc reported income of $650k and spending of $428k, leaving 34% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $496k to $650k (+31%), an average of +5.5% a year. The sharpest change came in the year to June 2022, when income rose by 537%. Over the whole period it spent 54% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Preservation Society of Asheville and Buncombe County Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 74th percentile within NC. Charities of a similar size with the same main cause include Eau Claire Childrens Theatre Inc ($650k), Virginia Ballet Company and School ($650k) and Amarillo Art Institute Inc ($650k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 96% and program service revenue 2.2% of the total. Compensation of current officers, directors and key employees was $91k (21% of expenses). Other salaries and wages came to $129k. At year end it held assets of $1.9m against liabilities of $12k, net assets of $1.9m. It reported 4 employees.