Webb County Heritage Foundation Inc

Analysis

Webb County Heritage Foundation Inc is a registered charity in United States, based in Laredo, TX. It received its IRS tax-exemption ruling in November 1980, 46 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2022, Webb County Heritage Foundation Inc reported income of $341k and spending of $385k, spending 113% of what it took in. Across the 4 years on record, from September 2019 to September 2022, income fell from $412k to $341k (-17%), an average of -6.1% a year. The sharpest change came in the year to September 2021, when income dropped by 21%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Webb County Heritage Foundation Inc sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 68th percentile within TX. Charities of a similar size with the same main cause include Playzeum Yuba-Sutter ($341k), Teentix ($341k) and Destination Downtown South Boston Inc ($341k).

On its Form 990 for the period ending September 2022, revenue came from contributions and grants 89% and program service revenue 0.8% of the total. Other salaries and wages came to $220k. At year end it held assets of $339k against liabilities of $88k, net assets of $252k. It reported 5 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.