McLeod County Historical Society

Analysis

McLeod County Historical Society is a registered charity in United States, based in Hutchinson, MN. It received its IRS tax-exemption ruling in September 1958, 68 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, McLeod County Historical Society reported income of $137k and spending of $200k, spending 146% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $675k to $137k (-80%), an average of -33% a year. The sharpest change came in the year to December 2020, when income dropped by 80%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, McLeod County Historical Society sits at the 44th percentile: it is larger than about 44% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 42nd percentile within MN. Charities of a similar size with the same main cause include Mission Flight Academy ($137k), The Chubbys Project a NJ Nonprofit Corporation ($137k) and The North Carolina Native Plant Society Inc ($137k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $50k (25% of expenses). Other salaries and wages came to $26k. At year end it held assets of $1.8m against liabilities of $4,424, net assets of $1.8m. It reported 3 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.