Freeborn County Historical Society

Analysis

Freeborn County Historical Society is a registered charity in United States, based in Albert Lea, MN. It received its IRS tax-exemption ruling in January 1974, 52 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, Freeborn County Historical Society reported income of $193k and spending of $315k, spending 163% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $381k to $193k (-49%), an average of -16% a year. The sharpest change came in the year to December 2022, when income dropped by 44%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Freeborn County Historical Society sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within MN. Charities of a similar size with the same main cause include Richmond Emergency Food Pantry ($193k), Arabic & Beyond Cultural Center ($193k) and St Croix Services for the Developmentally Disabled Inc ($193k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 23% of the total. Other salaries and wages came to $163k. At year end it held assets of $2.3m against liabilities of $91k, net assets of $2.2m. It reported 8 employees.