Itasca County Historical Society

Analysis

Itasca County Historical Society is a registered charity in United States, based in Grand Rapids, MN. It received its IRS tax-exemption ruling in August 1972, 54 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, Itasca County Historical Society reported income of $154k and spending of $151k, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $162k to $154k (-5.1%), an average of -1.3% a year. The sharpest change came in the year to December 2022, when income dropped by 20%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Itasca County Historical Society sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 45th percentile within MN. Charities of a similar size with the same main cause include The Capital City Marathon Association ($154k), South Florida Pride Wind Ensemble Inc ($154k) and The Studio Potter a Non Profit Corporation ($154k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 1.0% of the total. Compensation of current officers, directors and key employees was $45k (30% of expenses). Other salaries and wages came to $23k. At year end it held assets of $483k against liabilities of $2,645, net assets of $481k. It reported 3 employees.