Harbor Springs Area Historical Society

Analysis

Harbor Springs Area Historical Society is a registered charity in United States, based in Harbor SPGS, MI. It received its IRS tax-exemption ruling in January 1991, 35 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 (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, Harbor Springs Area Historical Society reported income of $1.0m and spending of $455k, leaving 55% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $429k to $1.0m (+137%), an average of +24% a year. The sharpest change came in the year to December 2021, when income rose by 119%. Over the whole period it spent 43% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Harbor Springs Area Historical Society sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within MI. Charities of a similar size with the same main cause include Corpus Christi Symphony Society Inc ($1.0m), Charlotte Museum of History Inc ($1.0m) and Homer Society of Natural History Inc ($1.0m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 86% and program service revenue 8.9% of the total. Compensation of current officers, directors and key employees was $99k (22% of expenses). Other salaries and wages came to $88k. At year end it held assets of $4.7m against liabilities of $11k, net assets of $4.7m. It reported 5 employees.