Bedford Historical Society
- Assets
- $1.1m
- Revenue
- $78.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Bedford, OH
- Founding
- 11/1962
- Data as of
- 12/2022
- EIN
- 34-6559023
Organization Overview
Bedford Historical Society is located in Bedford, OH. The organization was established in 1962. 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 12/2022, Bedford Historical Society employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bedford Historical Society 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 12/2022, Bedford Historical Society generated $78.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (23.0%) each year. All expenses for the organization totaled $172.0k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVATION AND RESTORATION OF HISTORIC BUILDINGS, MAINTAIN MUSEUM OF HISTORIC ARTIFACTS, ARCHIVING HISTORIC LOCAL DOCUMENTS, PUBLIC EDUCATION REGARDING LOCAL HISTORY
Describe the Organization's Program Activity:
Part 3 - Line 4a
LINE 24A - RESTORATION, PRESERVATION OF HISTORIC BUILDINGS, OPEN TO THE PUBLIC
PROFESSIONAL SERVICES, INSURANCE, COMMUNICATION AND PUBLICATIONS, TECHNOLOGY & WEBSITE, EDUCATIONAL PROGRAMS, GENERAL OFFICE COSTS, AND MISCELLANEOUS EXPENSES.
LINE 16 - UTILITIES, MAINTENANCE OF HISTORIC BUILDINGS, OPEN TO THE PUBLIC
LINES 5 & 7 - DIRECTOR, ESSENTIAL PERSONNEL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elmer Schulz Former Director | Trustee | 40 | $12,100 |
Richard Backo Vice Pres, Trustee | Trustee | 5 | $0 |
Terry Blair Treasurer, Trustee | OfficerTrustee | 5 | $0 |
Jim Harding Trustee | Trustee | 1 | $0 |
Alma Rhine Trustee | Trustee | 1 | $0 |
Steve Salvi Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $3,060 |
| Fundraising events | $12,677 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,253 |
| Noncash contributions included in lines 1a–1f | $7,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $56,990 |
| Total Program Service Revenue | $0 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,185 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $78,234 |
| 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. | $15,995 |
| Compensation of current officers, directors, key employees. | $1,880 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,876 |
| Office expenses | $5,316 |
| Information technology | $2,049 |
| Royalties | $0 |
| Occupancy | $23,810 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,295 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,781 |
| All other expenses | $2,136 |
| Total functional expenses | $171,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $60,884 |
| 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 | $5,000 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $428,624 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $561,542 |
| Total assets | $1,056,050 |
| Accounts payable and accrued expenses | $2,504 |
| 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 | $72,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,400 |
| Total liabilities | $81,804 |
| Net assets without donor restrictions | $848,439 |
| Net assets with donor restrictions | $125,807 |
| 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 | $1,056,050 |