Beloit Historical Society

Analysis

Beloit Historical Society is a registered charity in United States, based in Beloit, WI. It received its IRS tax-exemption ruling in August 1966, 60 years ago. 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, Beloit Historical Society reported income of $161k and spending of $176k, spending 110% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $161k to $161k (-0.5%), an average of -0.1% a year. The sharpest change came in the year to December 2020, when income rose by 20%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Beloit Historical Society sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 48th percentile within WI. Charities of a similar size with the same main cause include Natrona County Public Library Foundation ($161k), North Carolina Library Assn ($161k) and Our Brothers Place Company ($161k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $46k (26% of expenses). Other salaries and wages came to $31k. At year end it held assets of $1.3m against liabilities of $6,487, net assets of $1.3m. It reported 3 employees.