Beaver Island Historical Society of Michigan

Analysis

Beaver Island Historical Society of Michigan is a registered charity in United States, based in Beaver Island, MI. It received its IRS tax-exemption ruling in November 1960, 66 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 October 2023, Beaver Island Historical Society of Michigan reported income of $262k and spending of $327k, spending 125% of what it took in. Across the 4 years on record, from October 2020 to October 2023, income grew from $212k to $262k (+23%), an average of +7.3% a year. The sharpest change came in the year to October 2023, when income rose by 15%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Beaver Island Historical Society of Michigan sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 59th percentile within MI. Charities of a similar size with the same main cause include Ashland Symphony Orchestra Association ($262k), Korean American Association of New Jersey ($262k) and Kekahu Foundation ($262k).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 69% and program service revenue 6.8% of the total. Other salaries and wages came to $102k. At year end it held assets of $1.1m against liabilities of $69k, net assets of $986k. It reported 1 employees.