Steele County Historical Society

Analysis

Steele County Historical Society is a registered charity in United States, based in Owatonna, MN. It received its IRS tax-exemption ruling in January 1966, 60 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, Steele County Historical Society reported income of $453k and spending of $401k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $464k to $453k (-2.4%), an average of -0.6% a year. The sharpest change came in the year to December 2021, when income rose by 25%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Steele County Historical Society sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 68th percentile within MN. Charities of a similar size with the same main cause include Thomas Beaver Free Library ($453k), Habitat for Humanity International Inc ($453k) and The California Association Highway Patrolmen Widows & Orphans TR ($453k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 79% and program service revenue 5.6% of the total. Compensation of current officers, directors and key employees was $51k (13% of expenses). Other salaries and wages came to $83k. At year end it held assets of $4.2m against liabilities of $9,611, net assets of $4.2m. It reported 8 employees.