Lakewood Historical Society

Analysis

Lakewood Historical Society is a registered charity in United States, based in Lakewood, OH. It received its IRS tax-exemption ruling in November 1953, 73 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 May 2023, Lakewood Historical Society reported income of $118k and spending of $65k, leaving 45% of income unspent that year. Across the 5 years on record, from May 2019 to May 2023, income fell from $227k to $118k (-48%), an average of -15% a year. The sharpest change came in the year to May 2020, when income dropped by 43%. Over the whole period it spent 57% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lakewood 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 41st percentile, and in the 42nd percentile within OH. Charities of a similar size with the same main cause include Leadership Metrowest Inc ($118k), Friends of Gillespie County Country Schools Inc ($118k) and Sangre Decristo Arts & Conference Center Endowment Inc ($118k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 34% and program service revenue 24% of the total. At year end it held assets of $861k against liabilities of $2,264, net assets of $858k.