Beaver Island Historical Society Of Michigan
- Assets
- $1.0m
- Revenue
- $262.1k
- Investments
- $0.0
- Employees
- 1
- Location
- Beaver Island, MI
- Founding
- 11/1960
- Data as of
- 10/2023
- EIN
- 38-6087750
Organization Overview
Beaver Island Historical Society Of Michigan is located in Beaver Island, MI. The organization was established in 1960. 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. Beaver Island Historical Society Of Michigan 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 10/2023, Beaver Island Historical Society Of Michigan generated $262.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.1%) each year. All expenses for the organization totaled $326.8k during the year ending 10/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVING AND SHARING THE UNIQUE HISTORY OF BEAVER ISLAND AND THE ARCHIPELAGO, THE BEAVER ISLAND HISTORICAL SOCIETY WAS FOUNDED IN 1957 TO COLLECT AND SHARE THE FASCINATING HISTORY OF BEAVER ISLAND. A REMOTE ISLAND IN LAKE MICHIGAN, IT HAS WITNESSED MANY INTERESTING AND UNIQUE HISTORICAL EVENTS, AND HAS BEEN HOME TO VARIOUS GROUPS INCLUDING NATIVE AMERICANS, A MORMON BRANCH KNOWN AS THE STRANGITES, IRISH IMMIGRANTS, FISHERMAN, LUMBERJACKS, AND MANY MORE. THE HISTORICAL SOCIETY CURRENTLY OPERATES TWO MUSEUMS ON THE ISLAND, THE PRINT SHOP MUSEUM AND THE MARINE MUSEUM, AS WELL AS TWO ADDITIONAL HISTORICAL SITES, HERITAGE PARK AND THE PROTAR HOME. WE OFFER SEVERAL RESOURCES AND SERVICES TO OUR VISITORS, INCLUDING GENEALOGICAL RESEARCH, COPIES OF ARCHIVAL PHOTOS, AND SERIES OF HISTORICAL JOURNALS AND OTHER BOOKS FOR PURCHASE. ADDITIONALLY, WE HOST MANY EVENTS THROUGHOUT THE YEAR TO PROMOTE THE ISLAND'S HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HISTORICAL SOCIETY CURRENTLY OPERATES TWO MUSEUMS ON THE ISLAND, THE PRINT SHOP MUSEUM AND THE MARINE MUSEUM, AS WELL AS TWO ADDITIONAL HISTORICAL SITES, HERITAGE PARK AND THE PROTAR HOME. WE OFFER SEVERAL RESOURCES AND SERVICES TO OUR VISITORS, INCLUDING GENEALOGICAL RESEARCH, COPIES OF ARCHIVAL PHOTOS, AND A SERIES OF HISTORICAL JOURNALS AND OTHER BOOKS FOR PURCHASE. ADDITIONALLY, WE HOST MANY EVENTS THROUGHOUT THE YEAR TO PROMOTE THE ISLAND'S HISTORY.
THE HISTORICAL SOCIETY CURRENTLY OPERATES TWO MUSEUMS ON THE ISLAND, THE PRINT SHOP MUSEUM AND THE MARINE MUSEUM, AS WELL AS TWO ADDITIONAL HISTORICAL SITES, HERITAGE PARK AND THE PROTAR HOME. WE OFFER SEVERAL RESOURCES AND SERVICES TO OUR VISITORS, INCLUDING GENEALOGICAL RESEARCH, COPIES OF ARCHIVAL PHOTOS, AND A SERIES OF HISTORICAL JOURNALS AND OTHER BOOKS FOR PRUCHASE. ADDITIONALLY, WE HOST MANY EVENTS THROUGHOUT THE YEAR TO PROMOTE THE ISLAND'S HISTORY.
THE HISTORICAL SOCIETY HAS COMPLETED IN 2022 A THREE-PHASED CONSTRUCTION/RENOVATION PROJECT AT OUR PRINT SHOP MUSEUM. PHASE 1 CONSISTED OF RECONSTRUCTING THE FRONT PORCH OF THE MUSEUM. PHASE 2 DEMOLISHED A WING OF THE MUSEUM THAT WAS NOT PART OF THE HISTORICAL STRUCTURE AND A NEW GALLERY, ARCHIVE AND CONFERENCE ROOM WAS CONSTRUCTED. PHASE 3 WAS A RESTORATION OF THE HISTORIC CORE OF THE PRINT SHOP MUSEUM.
THE HISTORICAL SOCIETY HAS COMPLETED IN 2022 A THREE-PHASED CONSTRUCTION/RENOVATION PROJECT AT OUR PRINT SHOP MUSEUM. PHASE 1 CONSISTED OF RECONSTRUCTING THE FRONT PORCH OF THE MUSEUM. PHASE 2 DEMOLISHED A WING OF THE MUSEUM THAT WAS NOT PART OF THE HISTORICAL STRUCTURE AND A NEW GALLERY, ARCHIVE AND CONFERENCE ROOM WAS CONSTRUCTED. PHASE 3 WAS A RENOVATION OF THE HISTORIC CORE OF THE PRINT SHOP MUSEUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Lefevre-Welke President | OfficerTrustee | 5 | $0 |
Tracy Paquin Vice-Preside | OfficerTrustee | 5 | $0 |
Jacque Lafreniere Treasurer | OfficerTrustee | $0 | |
Joe Callian Secretary | OfficerTrustee | 2 | $0 |
Sheri Timsak Trustee | Trustee | 0.5 | $0 |
Alan Vicstein Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $61,463 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,461 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $179,924 |
| Total Program Service Revenue | $17,775 |
| Investment income | $483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | -$16,048 |
| Net Income from Sales of Inventory | $79,976 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $262,110 |
| 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 | $101,574 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,339 |
| Advertising and promotion | $3,087 |
| Office expenses | $29,544 |
| Information technology | $11,970 |
| Royalties | $0 |
| Occupancy | $14,897 |
| Travel | $5,717 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,472 |
| Interest | $3,070 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,920 |
| Insurance | $4,368 |
| All other expenses | $691 |
| Total functional expenses | $326,793 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,825 |
| Savings and temporary cash investments | $13,876 |
| 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 | $24,798 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $868,566 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,029,065 |
| Accounts payable and accrued expenses | $2,254 |
| 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 | $66,818 |
| Total liabilities | $69,072 |
| Net assets without donor restrictions | $959,993 |
| Net assets with donor restrictions | $639,966 |
| 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 | $1,029,065 |