Historical Society of Palm Beach County

Analysis

Historical Society of Palm Beach County is a registered charity in United States, based in West Palm BCH, FL. It received its IRS tax-exemption ruling in April 1942, 84 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 2023, Historical Society of Palm Beach County reported income of $146k and spending of $287k, spending 197% of what it took in. Across the 6 years on record, from April 2019 to June 2023, income fell from $1.1m to $146k (-86%), an average of -33% a year. The sharpest change came in the year to June 2023, when income dropped by 88%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Historical Society of Palm Beach County sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 50th percentile within FL. Charities of a similar size with the same main cause include Stencil Artisans League Inc ($146k), Green Bay Community Theater ($146k) and Klamath County Museum Foundation ($146k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 75% and program service revenue 1.3% of the total. Compensation of current officers, directors and key employees was $25k (8.6% of expenses). Other salaries and wages came to $110k. At year end it held assets of $4.9m against liabilities of $303k, net assets of $4.6m.