Laurel Historical Society Inc

Analysis

Laurel Historical Society Inc is a registered charity in United States, based in Laurel, MD. It received its IRS tax-exemption ruling in July 1991, 35 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Laurel Historical Society Inc reported income of $159k and spending of $186k, spending 117% of what it took in. Across the 5 years on record, from March 2019 to June 2023, income grew from $143k to $159k (+11%), an average of +2.7% a year. The sharpest change came in the year to June 2021, when income rose by 230%. Over the whole period it spent 114% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Laurel Historical Society Inc sits at the 43rd percentile: it is larger than about 43% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 49th percentile within MD. Charities of a similar size with the same main cause include Next Steps for You Inc ($159k), Lifestyle Foundation ($159k) and Miracle League of San Diego ($159k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 53% and program service revenue 5.4% of the total. Compensation of current officers, directors and key employees was $58k (31% of expenses). At year end it held assets of $1.3m against liabilities of $6,833, net assets of $1.3m. 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.