Minnesota Historical Society

Analysis

Minnesota Historical Society is a registered charity in United States, based in Saint Paul, MN. It received its IRS tax-exemption ruling in September 1944, 82 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 June 2023, Minnesota Historical Society reported income of $91.5m and spending of $65.8m, leaving 28% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $59.5m to $91.5m (+54%), an average of +11% a year. The sharpest change came in the year to June 2023, when income rose by 44%. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Minnesota Historical Society sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within MN. Charities of a similar size with the same main cause include Association for Computing Machinery Inc ($91.1m), Interlochen Center for the Arts ($91.8m) and National September 11 Memorial and Museum at the World Trade Center ($90.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 85% and program service revenue 8.9% of the total. Compensation of current officers, directors and key employees was $692k (1.1% of expenses). Other salaries and wages came to $21.5m. At year end it held assets of $312.6m against liabilities of $9.6m, net assets of $303.0m. It reported 645 employees.