Goodhue County Historical Society

Analysis

Goodhue County Historical Society is a registered charity in United States, based in Red Wing, MN. It received its IRS tax-exemption ruling in October 1951, 75 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, Goodhue County Historical Society reported income of $327k and spending of $385k, spending 118% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $289k to $327k (+13%), an average of +3.1% a year. Over the whole period it spent 114% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Goodhue County Historical Society sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 62nd percentile within MN. Charities of a similar size with the same main cause include Unison Learning Center Inc ($327k), Music in Place ($327k) and New Castle Senior Center Inc ($327k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 88% and program service revenue 3.2% of the total. Compensation of current officers, directors and key employees was $60k (16% of expenses). Other salaries and wages came to $135k. At year end it held assets of $1.2m against liabilities of $6,081, net assets of $1.2m. It reported 7 employees.