Lake County Historical Society

Analysis

Lake County Historical Society is a registered charity in United States, based in Painesville, OH. It received its IRS tax-exemption ruling in December 1960, 66 years ago. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lake County Historical Society reported income of $148k and spending of $230k, spending 156% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $463k to $148k (-68%), an average of -25% a year. The sharpest change came in the year to December 2022, when income dropped by 50%. Over the whole period it spent 81% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lake County Historical Society sits at the 46th percentile: it is larger than about 46% of them. Against every charity in United States with reported income it ranks in the 47th percentile, and in the 47th percentile within OH. Charities of a similar size with the same main cause include Tumaini Childrens Home ($148k), Mishpachtainu Inc ($148k) and Black Tech Link ($148k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $63k (28% of expenses). Other salaries and wages came to $27k. At year end it held assets of $1.2m against liabilities of $211k, net assets of $995k. It reported 3 employees.