Lynn Historical Society Inc
- Assets
- $1.6m
- Revenue
- $342.3k
- Investments
- $937.2k
- Employees
- 0
- Location
- Lynn, MA
- Founding
- 01/1942
- Data as of
- 12/2021
- EIN
- 04-2269520
Organization Overview
Lynn Historical Society Inc is located in Lynn, MA. The organization was established in 1942. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lynn Historical Society Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Lynn Historical Society Inc generated $342.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $264.1k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOCIETY OPERATES A MUSEUM THAT DISPLAYS HISTORICAL ARTIFACTS RELATED TO ITS EXEMPT PURPOSE TO PRESERVE THE HISTORY AND CULTURE OF THE CITY OF LYNN. THE SOCIETY ALSO SELLS BOOKS AND OTHER ART RELATED ITEMS RELATED TO ITS EXEMPT PURPOSE TO PRESERVE THE HISTORY AND CULTURE OF THE CITY OF LYNN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doneeca Thurston Museum Direc | 40 | $69,015 | |
Joseph Scanlon President | 2 | $0 | |
Steven Babbitt Treasurer | 2 | $0 | |
Gayle Richardson Director | 1 | $0 | |
Seth Albaum Director | 1 | $0 | |
Joe Boyd Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $201,411 |
| Interest on Savings | $593 |
| Dividends & Interest | $18,890 |
| Net Rental Income | $12,075 |
| Net Gain on Sale of Assets | $59,186 |
| Capital Gain Net Income | $59,186 |
| Net ST Capital Gain | $4,719 |
| Income Modifications | $0 |
| Profit on Inventory Sales | -$1,503 |
| Other Income | $51,637 |
| Total Revenue | $342,289 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $69,015 |
| Other employee salaries and wages | $48,572 |
| Pension plans, employee benefits | $17,239 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $25,224 |
| Occupancy | $18,792 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $71,363 |
| Total operating and administrative expenses | $262,167 |
| Contributions, gifts, grants paid | $1,900 |
| Total expenses and disbursements | $264,067 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,695 |
| Savings and temporary cash investments | $197,514 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $45,000 |
| Inventories for sale or use | $3,985 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $41,158 |
| Net Land, buildings, and equipment | $323,248 |
| Other assets | $0 |
| Total assets | $1,617,662 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $170 |
| Total liabilities | $170 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lynn Historical Society Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
New England Foundation For The Arts Inc Boston, MA PURPOSE: GENERAL OPERATING, CREATION AND/OR PRESENTING SUPPORT | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hamilton-Madison House Inc New York, NY | $11,830,050 | $17,173,913 |
Buffalo Olmsted Parks Conservancy Inc Buffalo, NY | $5,280,478 | $5,712,316 |
New York Landmarks Conservancy Inc New York, NY | $20,181,669 | $5,556,998 |
Marthas Vineyard Museum Inc Vineyard Haven, MA | $28,426,122 | $2,586,449 |
Florence Griswold Museum Inc Old Lyme, CT | $32,307,778 | $2,875,061 |
Friends Of Hildene Inc Manchester, VT | $15,529,063 | $5,299,027 |
Sakonnet Preservation Assoc Inc Little Compton, RI | $7,767,895 | $3,666,448 |
Mattatuck Historical Society Waterbury, CT | $30,372,011 | $3,496,557 |
Edith Wharton Restoration Inc Lenox, MA | $18,245,381 | $3,306,294 |
Rhode Island Historical Society Providence, RI | $30,696,643 | $3,629,513 |
Galvan Initiatives Foundation New York, NY | $45,061,487 | $6,375,160 |
Concord Antiquarian Society Concord, MA | $23,141,155 | $2,972,281 |