Bedford Historical Society

Analysis

Bedford Historical Society is a registered charity in United States, based in Bedford, OH. It received its IRS tax-exemption ruling in November 1962, 64 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, Bedford Historical Society reported income of $95k and spending of $141k, spending 149% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $216k to $95k (-56%), an average of -19% a year. The sharpest change came in the year to December 2022, when income dropped by 45%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Bedford Historical Society sits at the 35th percentile: it is larger than about 35% of them. Against every charity in United States with reported income it ranks in the 35th percentile, and in the 36th percentile within OH. Charities of a similar size with the same main cause include Virginia Congress of Parents and Teachers ($95k), Dungannon Development Commission Inc ($95k) and St Thomas More High School Alumni Association Inc ($95k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 80% of the total. Compensation of current officers, directors and key employees was $12k (8.5% of expenses). Other salaries and wages came to $13k. At year end it held assets of $1.1m against liabilities of $80k, net assets of $1000k. It reported 4 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.