Liabilities / Assets
54th percentile
Higher debt load relative to assets than 54% of similar nonprofits.
EIN 41-0846439 • 501(c)3 • Two Harbors, MN
Profile
Public education of lake county.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
54th percentile
Higher debt load relative to assets than 54% of similar nonprofits.
Liabilities / Revenue
62nd percentile
Higher debt load relative to revenue than 62% of similar nonprofits.
Net Margin
30th percentile
Higher net margin than 30% of similar nonprofits.
Top Officer Pay
70th percentile
Higher top officer pay than 70% of similar nonprofits.
Top officer pay equals 15.5% of source-year revenue.
Asset Growth
32nd percentile
Faster asset growth than 32% of similar nonprofits.
Revenue Growth
45th percentile
Faster revenue growth than 45% of similar nonprofits.
Assets
Down$781,958
Down $26,043 (-3.2%) from 2023
Liabilities
Down$18,465
Down $7,422 (-29%) from 2023
Net Assets
Down$763,493
Down $18,621 (-2.4%) from 2023
Revenue
Up$374,132
Up $13,335 (+3.7%) from 2023
Expenses
Down$392,753
Down $33,664 (-7.9%) from 2023
Net Income
Up-$18,621
Up $46,999 (+72%) from 2023
Most recent year
2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
The mission of the lake county historical society is to collect, preserve, and tell the story of lake county's history through museum exhibits, historic sites, collections, educational programs and book publishing.
The mission of the lake county historical society is to collect, preserve and tell the story of lake county's history.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $749,533 | $706,596 | ▼ $42,937 |
| Inventories for Sale or Use | $55,342 | $53,844 | ▼ $1,498 |
| Cash and Non-Interest-Bearing Accounts | $1,748 | $17,367 | ▲ $15,619 |
| Savings and Temporary Cash Investments | $1,378 | $4,151 | ▲ $2,773 |
| Total Assets | $808,001 | $781,958 | ▼ $26,043 |
| Liabilities | |||
| Other Liabilities | $3,746 | $9,472 | ▲ $5,726 |
| Accounts Payable and Accrued Expenses | $22,141 | $4,768 | ▼ $17,373 |
| Deferred Revenue | - | $4,225 | - |
| Total Liabilities | $25,887 | $18,465 | ▼ $7,422 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $765,122 | $753,373 | ▼ $11,749 |
| Net Assets With Donor Restrictions | $16,992 | $10,120 | ▼ $6,872 |
| Total Net Assets Fund Balance | $782,114 | $763,493 | ▼ $18,621 |
| Total Liabilities and Net Assets / Fund Balance | $808,001 | $781,958 | ▼ $26,043 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $644,854 | $826,535 | $1,471,389 |
| Leasehold Improvements | $24,542 | $14,208 | $38,750 |
| Land | $37,200 | - | $37,200 |
| Other Land Buildings | - | $36,704 | $36,704 |
| Equipment | - | $26,938 | $26,938 |
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Ellen Lynch | Executive Di | FT | $57,981 | $57,981 |
| Name | Title |
|---|---|
| Sam Gangi | President |
| Adrian Ranta | Trustee |
| Bryan Nelson | Trustee |
| Hayes Scriven | Trustee |
| Jerry Hostetter | Trustee |
| Kristi Wasko | Trustee |
| Mike Fitzpatrick | Trustee |
| Jennifer Niemi | Secretary |
| David Johnson | Vice Pres &t |
| Line Item | Amount |
|---|---|
| Other Expenses | $206,667 |
| Salaries, Compensation, and Employee Benefits | $186,086 |
| Total Fundraising Expense | $1 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $95,716 | $12,613 | - | $108,329 |
| Current Officers, Directors, Trustees, and Key Employees | $5,798 | $52,183 | - | $57,981 |
| Depreciation Depletion | $42,936 | - | - | $42,936 |
| Occupancy | $37,316 | - | - | $37,316 |
| Payroll Taxes | $12,071 | $7,705 | - | $19,776 |
| Fees for Services Accounting | - | $16,930 | - | $16,930 |
| Insurance | $14,645 | - | - | $14,645 |
| All Other Expenses | $10,668 | $1,520 | $1 | $12,189 |
| Advertising | $10,861 | - | - | $10,861 |
| Office Expenses | $8,145 | $776 | - | $8,921 |
| Payments to Affiliates | $8,580 | - | - | $8,580 |
| Other Expenses | $6,742 | - | - | $6,742 |
| Information Technology | $1,450 | - | - | $1,450 |
| Travel | $155 | - | - | $155 |
| Total Functional Expenses | $301,025 | $91,727 | $1 | $392,753 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Gift Certificates Outstanding | $9,472 |
“As required under state of minnesota law, the board of directors receives the tax return and after review executes the documents pursuant to a resolution of the board of directors”
“Governing documents may be obtained by contacting the organization”
“The organization has elected not to recognize a value on its books for any of the historical collections owned by the organization.”
“The organization's collection consists of artworks and historical objects including historical clothing, furniture, textiles, and archival materials. Photographic collections include industries of shipping, logigng, fishing railroading and tourism in the region. These items further the organization's exempt purpose of discovery, preservation, and dissemination of knowledge about the history of lake county and the state of minnesota by being available to the general public the organization's museums.”
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
| Path | # | Value |
|---|---|---|
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| IRS990/AccountsPayableAccrExpnssGrp/EOYAmt | 0 | 4768 |
| IRS990/ActivitiesConductedPrtshpInd | 0 | false |
| IRS990/ActivityOrMissionDesc | 0 | THE MISSION OF THE LAKE COUNTY HISTORICAL SOCIETY IS TO COLLECT, PRESERVE AND TELL THE STORY OF LAKE COUNTY'S HISTORY. |
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| IRS990/AdvertisingGrp/TotalAmt | 0 | 10861 |
| IRS990/AllOtherContributionsAmt | 0 | 99025 |
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| IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt | 0 | 1520 |
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| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 12189 |
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| IRS990/BooksInCareOfDetail/USAddress/CityNm | 0 | TWO HARBORS |
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| IRS990/DeductibleNonCashContriInd | 0 | false |
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| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 42936 |
| IRS990/Desc | 0 | TO PROVIDE THE GENERAL PUBLIC AN EDUCATION OF THE HISTORY OF LAKE COUNTY, MINNESOTA. THIS OCCURS PRIMARILY THROUGH THE OPERATION OF THE DEPOT MUSEUM IN THE FORMER DULUTH & IRON RANGE RAILROAD DEPOT, THE 3M BIRTHPLACE MUSEUM AND THE TWO HARBORS LIGHTHOUSE ALL LOCATED IN TWO HARBORS, MINNESOTA. |
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| IRS990/FormationYr | 0 | 1925 |
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| IRS990/ProgramServiceRevenueGrp/Desc | 1 | ADMISSIONS |
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| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 38477 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 4980 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 3 | 364 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | SUPPORT FOR AFFILIATED ORGANIZATIONS - THE BAY AREA HISTORICAL SOCIETY (SILVER BAY MN) AND THE FINLAND MINNESOTA HISTORICAL SOCIETY (FINLAND MN) |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 8580 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | THE ORGANIZATION OPERATES THE LIGHTHOUSE BED & BREAKFAST LOCATED IN THE TWO HARBORS LIGHTHOUSE KEEPER'S QUARTERS OF THE HISTORIC TWO HARBORS LIGHTHOUSE TO PROVIDE SUPPORT FOR THE PRESERVATION OF THE BUILDINGS AND GROUNDS. |
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| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 43821 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 1378 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 4151 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | SUNDRY INCOME 4,430 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | PART III, LINE 12 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt | 0 | 163221 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt | 0 | 151855 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 170327 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 119844 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 122693 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt | 0 | 727940 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt | 0 | 9 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt | 0 | 41 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 50 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt | 0 | 206472 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt | 0 | 196031 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt | 0 | 286753 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 248610 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt | 0 | 137676 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt | 0 | 1075542 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt | 0 | 12870 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus2YearsAmt | 0 | 6430 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus3YearsAmt | 0 | 6410 |
| IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt | 0 | 25710 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt | 0 | 9 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt | 0 | 41 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt | 0 | 50 |
| IRS990ScheduleA/InvestmentIncomeCYPct | 0 | 0.00000 |
| IRS990ScheduleA/InvestmentIncomePYPct | 0 | 0.00000 |
| IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt | 0 | 4430 |
| IRS990ScheduleA/OtherIncome509Grp/TotalAmt | 0 | 4430 |
| IRS990ScheduleA/PubliclySupportedOrg509a2Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY509Pct | 0 | 0.99760 |
| IRS990ScheduleA/PublicSupportPY509Pct | 0 | 1.00000 |
| IRS990ScheduleA/PublicSupportTotal509Amt | 0 | 1829192 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind | 0 | X |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt | 0 | 369693 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt | 0 | 360756 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 463510 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 374864 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 260369 |
| IRS990ScheduleA/Total509Grp/TotalAmt | 0 | 1829192 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt | 0 | 374132 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt | 0 | 360797 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt | 0 | 463510 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt | 0 | 374864 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt | 0 | 260369 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 1833672 |
| IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | true |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 644854 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 826535 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 1471389 |
| IRS990ScheduleD/CollectionUsedPreservationInd | 0 | X |
| IRS990ScheduleD/CollectionUsedPubExhibitionInd | 0 | X |
| IRS990ScheduleD/CollUsedScholarlyRsrchInd | 0 | X |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 26938 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 26938 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 37200 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 37200 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt | 0 | 24542 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt | 0 | 14208 |
| IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt | 0 | 38750 |
| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 36704 |
| IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 36704 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 9472 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | GIFT CERTIFICATES OUTSTANDING |
| IRS990ScheduleD/SolicitedAssetsSaleInd | 0 | false |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION HAS ELECTED NOT TO RECOGNIZE A VALUE ON ITS BOOKS FOR ANY OF THE HISTORICAL COLLECTIONS OWNED BY THE ORGANIZATION. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | THE ORGANIZATION'S COLLECTION CONSISTS OF ARTWORKS AND HISTORICAL OBJECTS INCLUDING HISTORICAL CLOTHING, FURNITURE, TEXTILES, AND ARCHIVAL MATERIALS. PHOTOGRAPHIC COLLECTIONS INCLUDE INDUSTRIES OF SHIPPING, LOGIGNG, FISHING RAILROADING AND TOURISM IN THE REGION. THESE ITEMS FURTHER THE ORGANIZATION'S EXEMPT PURPOSE OF DISCOVERY, PRESERVATION, AND DISSEMINATION OF KNOWLEDGE ABOUT THE HISTORY OF LAKE COUNTY AND THE STATE OF MINNESOTA BY BEING AVAILABLE TO THE GENERAL PUBLIC THE ORGANIZATION'S MUSEUMS. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 1, PART III, LINE 1A |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE D, PAGE 2, PART III, LINE 4 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 706596 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 9472 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | AS REQUIRED UNDER STATE OF MINNESOTA LAW, THE BOARD OF DIRECTORS RECEIVES THE TAX RETURN AND AFTER REVIEW EXECUTES THE DOCUMENTS PURSUANT TO A RESOLUTION OF THE BOARD OF DIRECTORS |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | GOVERNING DOCUMENTS MAY BE OBTAINED BY CONTACTING THE ORGANIZATION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | MN |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsBOYAmt | 0 | 808001 |
| IRS990/TotalAssetsEOYAmt | 0 | 781958 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 808001 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 781958 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 163221 |
| IRS990/TotalEmployeeCnt | 0 | 14 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 1 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 91727 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 301025 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 392753 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 25887 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 18465 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 25887 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 18465 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 782114 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 763493 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 301025 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 152884 |
| IRS990/TotalReportableCompFromOrgAmt | 0 | 57981 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 210911 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 374132 |
| IRS990/TotalVolunteersCnt | 0 | 4 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 808001 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 781958 |
| IRS990/TravelGrp/ProgramServicesAmt | 0 | 155 |
| IRS990/TravelGrp/TotalAmt | 0 | 155 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | PO BOX 128 |
| IRS990/USAddress/CityNm | 0 | TWO HARBORS |
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