Freeborn County Historical Society
- Assets
- $2.3m
- Revenue
- $193.4k
- Investments
- $0.0
- Employees
- 8
- Location
- Albert Lea, MN
- Founding
- 01/1974
- Data as of
- 12/2023
- EIN
- 41-0872543
Organization Overview
Freeborn County Historical Society is located in Albert Lea, MN. The organization was established in 1974. 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 12/2023, Freeborn County Historical Society employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Freeborn 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 12/2023, Freeborn County Historical Society generated $193.4k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $315.1k during the year ending 12/2023. 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
LOCAL HISTORICAL SOCIETY ESTABLISHED FOR THE DISPLAY, EDUCATION, AND PRESERVATION OF THE HISTORY OF FREEBORN COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOCAL HISTORICAL SOCIETY ESTABLISHED FOR THE DISPLAY,EDUCATION, AND PRESENTATION OF THE HISTORY OFFREEBORN COUNTY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Segura Treasurer | Officer | 2 | $0 |
Daphne Hamborg Secretary | Officer | 2 | $0 |
Jim Haney Vice President | Officer | 2 | $0 |
Holly Babcock President | Officer | 2 | $0 |
Stephanie Kibler Ex Director | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $22,580 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $108,043 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $145,623 |
| Total Program Service Revenue | $43,824 |
| Investment income | $332 |
| 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 | $0 |
| Net Income from Sales of Inventory | $334 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $193,377 |
| 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 | $162,654 |
| Pension plan accruals and contributions | $3,633 |
| Other employee benefits | $0 |
| Payroll taxes | $12,733 |
| Fees for services: Management | $1,650 |
| Fees for services: Legal | $1,516 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,584 |
| Office expenses | $6,285 |
| Information technology | $2,339 |
| Royalties | $0 |
| Occupancy | $31,138 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $931 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,069 |
| Insurance | $15,400 |
| All other expenses | $0 |
| Total functional expenses | $315,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,606 |
| Savings and temporary cash investments | $658,535 |
| 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 | $14,973 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,532,697 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,312,811 |
| Accounts payable and accrued expenses | $4,147 |
| 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 | $87,300 |
| Other liabilities | $0 |
| Total liabilities | $91,447 |
| Net assets without donor restrictions | $2,221,364 |
| Net assets with donor restrictions | $0 |
| 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 | $2,312,811 |