Morris County Historical Society

Analysis

Morris County Historical Society is a registered charity in United States, based in Morristown, NJ. It received its IRS tax-exemption ruling in June 1965, 61 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Morris County Historical Society reported income of $362k and spending of $412k, spending 114% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $363k to $362k (-0.4%), an average of -0.1% a year. The sharpest change came in the year to December 2020, when income rose by 90%. Over the whole period it spent 117% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Morris County Historical Society sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 71st percentile within NJ. Charities of a similar size with the same main cause include Harrison Museum of African American Culture ($362k), Windsync ($362k) and Lexington Arts Association ($362k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 1.5% of the total. Compensation of current officers, directors and key employees was $80k (19% of expenses). Other salaries and wages came to $142k. At year end it held assets of $2.7m against liabilities of $929, net assets of $2.7m. It reported 7 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.