Elgin Area Historical Society

Analysis

Elgin Area Historical Society is a registered charity in United States, based in Elgin, IL. It received its IRS tax-exemption ruling in October 1967, 59 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 2022, Elgin Area Historical Society reported income of $377k and spending of $321k, spending 85% of its income. Across the 2 years on record, from December 2019 to December 2022, income grew from $312k to $377k (+21%), an average of +21% a year. The sharpest change came in the year to December 2022, when income rose by 21%. 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, Elgin Area Historical Society sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 65th percentile within IL. Charities of a similar size with the same main cause include Milwaukee Tennis & Education Foundation Inc ($377k), Sudden Infant Death Services of Illinois Inc ($377k) and Sheriffs Auxiliary Volunteers of the Green Valley District Inc ($377k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 39% and program service revenue 8.8% of the total. Compensation of current officers, directors and key employees was $57k (18% of expenses). Other salaries and wages came to $70k. At year end it held assets of $2.9m against liabilities of $11k, net assets of $2.9m. It reported 4 employees.