Great Lakes Historical Society

Analysis

Great Lakes Historical Society is a registered charity in United States, based in Toledo, OH. It received its IRS tax-exemption ruling in February 1953, 73 years ago. 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, Great Lakes Historical Society reported income of $2.4m and spending of $1.7m, leaving 29% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $992k to $2.4m (+143%), an average of +25% a year. The sharpest change came in the year to December 2022, when income rose by 93%. Over the whole period it spent 60% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Great Lakes Historical Society sits at the 87th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 87th percentile within OH. Charities of a similar size with the same main cause include Michigan Barber School Inc ($2.4m), Terrafirma Risk Retention Group LLC ($2.4m) and Boy Scouts of America ($2.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 10% of the total. Compensation of current officers, directors and key employees was $137k (8.0% of expenses). Other salaries and wages came to $424k. It paid $42k in professional fundraising fees. At year end it held assets of $12.7m against liabilities of $573k, net assets of $12.1m. It reported 22 employees.