Ipswich Local News Inc

Analysis

Ipswich Local News Inc is a registered charity in United States, based in Ipswich, MA. It received its IRS tax-exemption ruling in February 2020, 6 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 December 2023, Ipswich Local News Inc reported income of $480k and spending of $473k, spending 98% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $253k to $480k (+90%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 68%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ipswich Local News Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within MA. Charities of a similar size with the same main cause include Cincinnati Ballet Holdings Inc ($480k), American Friends of Venatenu Inc ($480k) and Tyler County Heritage Society Inc ($480k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 70% of the total. Compensation of current officers, directors and key employees was $52k (11% of expenses). Other salaries and wages came to $226k. At year end it held assets of $324k against liabilities of $73k, net assets of $252k. It reported 10 employees.