Prairie Historical Society
- Assets
- $1.7m
- Revenue
- $633.7k
- Investments
- $0.0
- Employees
- 9
- Location
- Madison, SD
- Founding
- 06/1966
- Data as of
- 09/2023
- EIN
- 46-6017308
Organization Overview
Prairie Historical Society is located in Madison, SD. The organization was established in 1966. 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 09/2023, Prairie Historical Society employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prairie 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 09/2023, Prairie Historical Society generated $633.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $750.0k during the year ending 09/2023. 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
TO ESTABLISH, MAINTAIN, ENDOW, PERPETUATE, AND CARRY ON, IN LAKE COUNTY, SOUTH DAKOTA, A CHARITABLE AND EDUCATIONAL ENTERPRISE, SPECIFICALLY THE OPERATION OF A HISTORICAL MUNICIPALITY FOR NON PROFIT PURPOSES WITH ASSOCIATED ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACTIVITIES ARE FOR THE PRESERVATION AND EXPANSION OF THE LIVING PRAIRIE VILLAGE MUSEUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Faron Wahl CEO | Officer | 40 | $52,157 |
Misty Young CFO | Officer | 20 | $13,981 |
Dan Algra Director | Trustee | 1 | $0 |
Courtney Hansen Director | Trustee | 1 | $0 |
Brad Harmon Treasurer | OfficerTrustee | 1 | $0 |
Matt Hussman Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,094 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,094 |
| Total Program Service Revenue | $530,644 |
| Investment income | $1,013 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $633,742 |
| 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. | $71,246 |
| Compensation of current officers, directors, key employees. | $14,249 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,409 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,680 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,278 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $73,561 |
| Advertising and promotion | $14,030 |
| Office expenses | $16,490 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $275,161 |
| Travel | $210 |
| 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 | $98,355 |
| Insurance | $16,385 |
| All other expenses | $0 |
| Total functional expenses | $750,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,442 |
| Savings and temporary cash investments | $330,177 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $414 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,430 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,034,028 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $179,181 |
| Total assets | $1,664,672 |
| Accounts payable and accrued expenses | $16,203 |
| 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 | $16,203 |
| Net assets without donor restrictions | $1,648,469 |
| 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 | $1,664,672 |