Lake County Historical Society
- Assets
- $876.3k
- Revenue
- $463.5k
- Investments
- $0.0
- Employees
- 10
- Location
- Two Harbors, MN
- Founding
- 09/1959
- Data as of
- 12/2022
- EIN
- 41-0846439
Organization Overview
Lake County Historical Society is located in Two Harbors, MN. The organization was established in 1959. 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, Lake County Historical Society employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake County 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, Lake County Historical Society generated $463.5k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $498.5k during the year ending 12/2022. While expenses have increased by 6.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE LAKE COUNTY HISTORICAL SOCIETY IS TO COLLECT, PRESERVE AND TELL THE STORY OF LAKE COUNTY'S HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE GENERAL PUBLIC AN EDUCATION OF THE HISTORY OF LAKE COUNTY, MINNESOTA
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Fitzpatrick Trustee | Trustee | $0 | |
Rick Hogenson Liaison | Trustee | $0 | |
Jerry Hostetter Trustee | Trustee | $0 | |
Bryan Nelson Trustee | Trustee | $0 | |
Adrian Ranta Trustee | Trustee | $0 | |
Hayes Scriven Trustee | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $11,988 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $98,339 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $170,327 |
| Total Program Service Revenue | $277,153 |
| Investment income | $28 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,572 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $6,430 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $463,510 |
| 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 | $161,805 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,588 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,455 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,715 |
| Office expenses | $10,220 |
| Information technology | $1,229 |
| Royalties | $0 |
| Occupancy | $21,726 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $429 |
| Interest | $295 |
| Payments to affiliates | $8,580 |
| Depreciation, depletion, and amortization | $41,257 |
| Insurance | $9,903 |
| All other expenses | $20,992 |
| Total functional expenses | $498,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,873 |
| Savings and temporary cash investments | $38,116 |
| 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 | $55,617 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $766,717 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $876,323 |
| Accounts payable and accrued expenses | $28,589 |
| 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 | $0 |
| Total liabilities | $28,589 |
| Net assets without donor restrictions | $796,779 |
| Net assets with donor restrictions | $50,955 |
| 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 | $876,323 |