Lorain County Historical Society Inc

Analysis

Lorain County Historical Society Inc is a registered charity in United States, based in Elyria, OH. It received its IRS tax-exemption ruling in June 1965, 61 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, Lorain County Historical Society Inc reported income of $564k and spending of $365k, leaving 35% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $317k to $564k (+78%), an average of +16% a year. The sharpest change came in the year to December 2023, when income rose by 269%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lorain County Historical Society Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within OH. Charities of a similar size with the same main cause include Association of School Business Officials International ($564k), Lehigh County Senior Citizens Inc ($564k) and Variety-The Childrens Charity of Wisconsin Inc ($564k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $56k (15% of expenses). Other salaries and wages came to $86k. At year end it held assets of $2.2m against liabilities of $0, net assets of $2.2m. It reported 4 employees.