Lorain County Historical Society Inc
- Assets
- $2.3m
- Revenue
- $316.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Elyria, OH
- Founding
- 06/1965
- Data as of
- 12/2021
- EIN
- 34-0868574
Organization Overview
Lorain County Historical Society Inc is located in Elyria, OH. The organization was established in 1965. 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. As of 12/2021, Lorain County Historical Society Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lorain County 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, Lorain County Historical Society Inc generated $316.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $262.8k during the year ending 12/2021. While expenses have increased by 2.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE LORAIN COUNTY HISTORICAL SOCIETY COLLECTS, PRESERVES, AND SHARES THE HISTORY OF LORAIN COUNTY, OHIO TO EDUCATE AND INSPIRE PRESENT AND FUTURE GENERATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTION AND PRESERVATION OF ARTIFACTS RELATED TO LORAIN COUNTY, OHIO. HISTORICAL MATERIALS AVAILABLE FOR RESEARCH PURPOSES. LOCAL HISTORY EDUCATION THROUGH MUSEUM TOURS AND EDUCATIONAL PROGRAMMING, INCLUDING CLASSROOM PROGRAMS PROVIDED FOR STUDENTS AND TEACHERS IN ELEMENTARY SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kerri Broome Executive Director | Trustee | 40 | $49,440 |
Sara Hobbs Vice President | OfficerTrustee | 1 | $0 |
Kathryn Dean-Dielman President | OfficerTrustee | 2 | $0 |
Marilyn Wainio Secretary | OfficerTrustee | 1 | $0 |
Sam Battle Director | Trustee | 1 | $0 |
Patrick Verburg Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,125 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,281 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $121,406 |
| Total Program Service Revenue | $34,910 |
| Investment income | $57,254 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $58,287 |
| Net Income from Fundraising Events | $17,573 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $316,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $142,687 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,498 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,507 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,238 |
| Fees for services: Other | $7,884 |
| Advertising and promotion | $100 |
| Office expenses | $0 |
| Information technology | $1,863 |
| Royalties | $0 |
| Occupancy | $27,204 |
| Travel | $129 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,639 |
| Insurance | $7,042 |
| All other expenses | $5,420 |
| Total functional expenses | $262,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,112 |
| Savings and temporary cash investments | $65,044 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $721,076 |
| Investments—publicly traded securities | $1,448,340 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,600 |
| Total assets | $2,283,172 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $213 |
| Total liabilities | $213 |
| Net assets without donor restrictions | $1,287,980 |
| Net assets with donor restrictions | $994,979 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,283,172 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lorain County Historical Society Inc has recieved totaling $7,137.
| Awarding Organization | Amount |
|---|---|
Trust U W Of Katharine G Thomas Pittsburgh, PA PURPOSE: GENERAL OPERATING | $7,137 |
Endowment Analysis
| Beg. Balance | $408,579 |
| Earnings | $15,640 |
| Net Contributions | $17,278 |
| Ending Balance | $441,497 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Heritage Mark Foundation East Lansing, MI | $12,066,077 | $372,589 |
Detroit Historical Society Detroit, MI | $8,852,742 | $2,440,000 |
Historical Society Of Pennsylvania Philadelphia, PA | $29,519,223 | $5,864,620 |
Ohio Historical Society Foundation Columbus, OH | $22,693,832 | $2,410,812 |
Bucks County Historical Society Mercer Museum Doylestown, PA | $25,757,784 | $3,151,386 |
Carriage Town Ministries Flint, MI | $8,458,686 | $3,709,862 |
Lancasterhistory Org Lancaster, PA | $21,295,803 | $1,939,476 |
Historic Hoosier Hills R C & D Inc Versailles, IN | $314,933 | $2,266,391 |
Partners For Sacred Places Inc Philadelphia, PA | $5,285,974 | $2,628,300 |
Ohio & Erie Canalway Coalition Akron, OH | $9,640,021 | $4,067,863 |
Language Conservancy Bloomington, IN | $1,366,684 | $2,095,112 |
The Flagship Niagara League Erie, PA | $891,920 | $1,486,616 |