Overview
What is Lake County Historical Society?
The Lake County Historical Society, situated in Two Harbors, Minnesota, is a nonprofit organization dedicated to educating the public about the history of Lake County. With a mission to collect, preserve, and narrate the region's past, they accomplish this through various means such as museum exhibits, historical sites, and book publishing. Moreover, they maintain a substantial collection of artifacts and offer educational programs to engage the community. Their team comprises ten dedicated individuals who work tirelessly to bring Lake County's history to life.
Official website here: www.lakecountyhistoricalsociety.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Stars)
The Lake County Historical Society has earned a Three-Star rating from Charity Navigator, reflecting a score of 76%. This rating is primarily based on the organization’s accountability and financial health, showcasing its strong governance structure with a fully independent board. The organization has demonstrated solid management of its resources, with a very low liabilities to assets ratio of 3.26% and a program expense ratio of 78.47%, indicating a significant portion of its budget is dedicated to its programs.
While the organization shows strengths in governance and financial management, it does have some limitations. Notably, the society is missing key policies, including a conflict of interest policy and a whistleblower policy, which could enhance transparency and accountability. These gaps may raise concerns among potential donors regarding the overall governance practices of the organization.
Despite these limitations, the Lake County Historical Society's commitment to its historical preservation mission is evident. The independent nature of its board and the absence of asset diversion demonstrate a responsible approach to its financial stewardship. Improving its policy framework could further strengthen its standing and instill greater confidence among supporters and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Lake County Historical Society legitimate?
Lake County Historical Society is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake County Historical Society submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $161,805
For more financial information, click here
Official website here: www.lakecountyhistoricalsociety.org
What is the mission statement of Lake County Historical Society?
The Lake County Historical Society's mission is centered around collecting, preserving, and narrating the historical tales of Lake County. They accomplish this through various means such as museum exhibits, historic sites, conserving artifacts, educational programs, and publishing books. This organization aims to educate the public about the rich history of Lake County, Minnesota.
Official website here: www.lakecountyhistoricalsociety.org
Who is the CEO of Lake County Historical Society?
Sam Gangi is the Trustee of Lake County Historical Society.
Official website here: www.lakecountyhistoricalsociety.org
What is the revenue of Lake County Historical Society?
Lake County Historical Society's revenue in 2022 was $463,510.
Official website here: www.lakecountyhistoricalsociety.org
Who are the executives of Lake County Historical Society and what are their salaries?
The average compensation at Lake County Historical Society during 2022 was $16,180. There are 10 employees and 4 volunteers at Lake County Historical Society.
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Official website here: www.lakecountyhistoricalsociety.org
Where can I find the form 990 for Lake County Historical Society?
Lake County Historical Society's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lakecountyhistoricalsociety.org
Learn more at the official website: www.lakecountyhistoricalsociety.org
Mission Statement of Lake County Historical Society
The Lake County Historical Society, a nonprofit organization, is dedicated to the pursuit of collecting, preserving, and sharing the historical narrative of Lake County, Minnesota. Through their museum exhibits, historic sites, extensive collections, and educational programs, they strive to enlighten the general public about the rich history of this region. Additionally, the society engages in book publishing, further contributing to the understanding and appreciation of Lake County's past. In essence, the Lake County Historical Society serves as a vital conduit for preserving the region's heritage and fostering a deeper connection with its history.
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Impact
July, 2024
The Lake County Historical Society plays a crucial role in collecting, preserving, and sharing the history of Lake County, Minnesota. Through museum exhibits, historic sites, collections, educational programs, and book publishing, the society provides the general public with an opportunity to learn about the rich history of the region. By highlighting the heritage and stories of Lake County, the Historical Society helps connect current generations with their past, fostering a sense of community pride and identity. Additionally, their efforts contribute to preserving the cultural heritage of the area for future generations to appreciate and learn from.
This information is meant to be a general summary of Lake County Historical Society. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $28
- Program Service Revenue: $277,153
- Gross Receipts: $463,510
Assets and Liabilities:
- Total Assets: $876,323
- Total Liabilities: $28,589
- Net Assets: $847,734
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GIFT SHOP SALES
Revenue
$137,021
BED & BREAKFAST
Revenue
$105,845
ADMISSIONS
Revenue
$34,287
Organization Details
Founding Year
1925
Phone
(218) 834-4898Principal Officer
Sam Gangi
Main Address
PO BOX 128, TWO HARBORS, MN, 55616
NTEE Category
Code: A80 - Arts
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