Heritage Society

Analysis

Heritage Society is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in August 1956, 70 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 May 2023, Heritage Society reported income of $989k and spending of $437k, leaving 56% of income unspent that year. Across the 4 years on record, from May 2020 to May 2023, income grew from $533k to $989k (+85%), an average of +23% a year. The sharpest change came in the year to May 2022, when income rose by 59%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Heritage Society sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Parents and Teachers Association of Public School 8 ($989k), Milbank High School Educational Foundation ($989k) and International Brotherhood of Electrical Workers Local Union 461 ($989k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 96% and program service revenue 3.8% of the total. Compensation of current officers, directors and key employees was $87k (20% of expenses). Other salaries and wages came to $175k. At year end it held assets of $1.5m against liabilities of $99k, net assets of $1.4m. It reported 8 employees.