Civic Intelligence

The Filson Historical Society Inc

EIN 61-0444690 • 501(c)3 • Louisville, KY

Profile

To collect, preserve, and share the significant history and culture of kentucky and the ohio valley.

1310 South Third StreetLouisville, KY 40208

filsonhistorical.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

11th percentile

0.01x

Higher debt load relative to assets than 11% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

23rd percentile

0.09x

Higher debt load relative to revenue than 23% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

6th percentile

-38%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

43rd percentile

$236,175

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 8.2% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

47th percentile

4.3%

Faster asset growth than 47% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

7th percentile

-34%

Faster revenue growth than 7% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$48,089,903

Up $1,997,905 (+4.3%) from 2023

Liabilities

Up

$261,970

Up $151,036 (+136%) from 2023

Net Assets

Up

$47,827,933

Up $1,846,869 (+4.0%) from 2023

Revenue

Down

$2,895,584

Down $1,465,784 (-34%) from 2023

Expenses

Up

$3,999,564

Up $389,560 (+11%) from 2023

Net Income

Down

-$1,103,980

Down $1,855,344 (-247%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $26,676,134Liabilities 2010: $121,289Net Assets 2010: $26,554,8452010Assets 2011: $27,585,786Liabilities 2011: $25,079Net Assets 2011: $27,560,7072011Assets 2012: $31,545,509Liabilities 2012: $45,820Net Assets 2012: $31,499,6892012Assets 2013: $38,046,641Liabilities 2013: $98,942Net Assets 2013: $37,947,6992013Assets 2014: $39,029,974Liabilities 2014: $396,476Net Assets 2014: $38,633,4982014Assets 2015: $39,000,638Liabilities 2015: $1,691,414Net Assets 2015: $37,309,2242015Assets 2016: $40,872,245Liabilities 2016: $1,898,303Net Assets 2016: $38,973,9422016Assets 2017: $43,439,258Liabilities 2017: $949,285Net Assets 2017: $42,489,9732017Assets 2018: $39,959,077Liabilities 2018: $788,896Net Assets 2018: $39,170,1812018Assets 2019: $43,436,953Liabilities 2019: $746,753Net Assets 2019: $42,690,2002019Assets 2020: $44,441,501Liabilities 2020: $136,221Net Assets 2020: $44,305,2802020Assets 2021: $48,370,659Liabilities 2021: $102,667Net Assets 2021: $48,267,9922021Assets 2022: $41,951,258Liabilities 2022: $93,062Net Assets 2022: $41,858,1962022Assets 2023: $46,091,998Liabilities 2023: $110,934Net Assets 2023: $45,981,0642023Assets 2024: $48,089,903Liabilities 2024: $261,970Net Assets 2024: $47,827,9332024

Highlighted filing

2024

Assets$48,089,903
Liabilities$261,970
Net Assets$47,827,933

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $1,396,596Expenses 2010: $1,730,800Net Income 2010: -$334,2042010Expenses 2011: $1,804,6052011Revenue 2012: $3,574,984Expenses 2012: $1,791,228Net Income 2012: $1,783,7562012Revenue 2013: $6,525,844Expenses 2013: $2,125,633Net Income 2013: $4,400,2112013Revenue 2014: $2,556,788Expenses 2014: $2,251,275Net Income 2014: $305,5132014Revenue 2015: $2,890,663Expenses 2015: $2,358,928Net Income 2015: $531,7352015Revenue 2016: $3,490,359Expenses 2016: $2,496,256Net Income 2016: $994,1032016Revenue 2017: $2,954,492Expenses 2017: $2,690,373Net Income 2017: $264,1192017Revenue 2018: $2,939,150Expenses 2018: $2,729,121Net Income 2018: $210,0292018Revenue 2019: $2,238,847Expenses 2019: $3,018,673Net Income 2019: -$779,8262019Revenue 2020: $2,532,589Expenses 2020: $3,038,411Net Income 2020: -$505,8222020Revenue 2021: $4,956,640Expenses 2021: $3,035,163Net Income 2021: $1,921,4772021Revenue 2022: $4,092,352Expenses 2022: $3,474,300Net Income 2022: $618,0522022Revenue 2023: $4,361,368Expenses 2023: $3,610,004Net Income 2023: $751,3642023Revenue 2024: $2,895,584Expenses 2024: $3,999,564Net Income 2024: -$1,103,9802024

Highlighted filing

2024

Revenue$2,895,584
Expenses$3,999,564
Net Income-$1,103,980

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$48.1$0.26$47.8$2.90$4.00$1.10
2023Detailed filing. Detailed filing data is available for this year.$46.1$0.11$46.0$4.36$3.61$0.75
2022Detailed filing. Detailed filing data is available for this year.$42.0$0.09$41.9$4.09$3.47$0.62
2021Detailed filing. Detailed filing data is available for this year.$48.4$0.10$48.3$4.96$3.04$1.92
2020Detailed filing. Detailed filing data is available for this year.$44.4$0.14$44.3$2.53$3.04$0.51
2019Detailed filing. Detailed filing data is available for this year.$43.4$0.75$42.7$2.24$3.02$0.78
2018Detailed filing. Detailed filing data is available for this year.$40.0$0.79$39.2$2.94$2.73$0.21
2017Detailed filing. Detailed filing data is available for this year.$43.4$0.95$42.5$2.95$2.69$0.26
2016Detailed filing. Detailed filing data is available for this year.$40.9$1.90$39.0$3.49$2.50$0.99
2015Detailed filing. Detailed filing data is available for this year.$39.0$1.69$37.3$2.89$2.36$0.53
2014Detailed filing. Detailed filing data is available for this year.$39.0$0.40$38.6$2.56$2.25$0.31
2013Detailed filing. Detailed filing data is available for this year.$38.0$0.10$37.9$6.53$2.13$4.40
2012Summary only. Only limited summary data is available for this year.$31.5$0.05$31.5$3.57$1.79$1.78
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.6$0.03$27.6$1.80
2010Summary only. Only limited summary data is available for this year.$26.7$0.12$26.6$1.40$1.73$0.33
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 23, 2025
Return Version
2024v5.2
Gross Receipts
$7,775,435
Mission and Program Overview

Mission

To collect, preserve, and share the significant history and culture of kentucky and the ohio valley.

The mission of the filson historical society is to collect, preserve, and share the significant history and culture of kentucky and the ohio valley. Its purpose is the belief that communities build a stronger future by better knowing the past.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$23,130,315$25,489,693▲ $2,359,378
Land, Buildings, and Equipment, Net$10,398,551$9,928,897▼ $469,654
Pledges and Grants Receivable$2,005,460$1,600,603▼ $404,857
Savings and Temporary Cash Investments$1,101,975$1,021,051▼ $80,924
Prepaid Expenses and Deferred Charges$31,028$26,963▼ $4,065
Cash and Non-Interest-Bearing Accounts$355$355→ $0
Total Assets$46,091,998$48,089,903▲ $1,997,905
Other Assets Total$9,424,314$10,022,341▲ $598,027
Liabilities
Accounts Payable and Accrued Expenses$110,934$261,970▲ $151,036
Total Liabilities$110,934$261,970▲ $151,036
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$31,386,981$32,282,241▲ $895,260
Net Assets With Donor Restrictions$14,594,083$15,545,692▲ $951,609
Total Net Assets Fund Balance$45,981,064$47,827,933▲ $1,846,869
Total Liabilities and Net Assets / Fund Balance$46,091,998$48,089,903▲ $1,997,905

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,061,448$5,372,134$14,433,582
Other Land Buildings$343,601$666,837$1,010,438
Equipment$114,348$836,755$951,103
Land$409,500-$409,500
Other Assets Org$10,022,341--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$34,497,094$370,987▲ $3,917,002$1,426,717$37,358,366
2023$29,979,569$1,537,093▲ $4,377,283$1,396,851$34,497,094
2022$35,821,045$1,696,757▼ $6,099,225$1,439,008$29,979,569
2021$32,079,027$483,300▲ $4,284,153$1,025,435$35,821,045
2020$28,074,227$125,534▲ $3,006,339$1,722,472$29,483,628
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard Hc ClayPresident & CEO (ended 12/31/24)FT$228,744$7,431$236,175
Julie Scoskie JamesVice President (ended 12/11/24)FT$139,014$6,089$145,103
Milos D MaldonadoChief Financial OfficerFT$113,123$14,817$127,940
Patrick a LewisDirector of Collections and ResearchFT$118,278$9,447$127,725

Board Members and Trustees

NameTitle
Ann WellsChair - Director
Angela EdwardsVice Chair - Director
Phillip BondAssistant Treasurer - Director
Alan KameiDirector
Anita StreeterDirector
Ann GeorgeheadDirector
Ashley NolandDirector
Carl M ThomasDirector
Chris MorrisDirector
Clark Bud OrrDirector
Daniel GiffordDirector
Elizabeth Libby VoylesDirector
Emily BinghamDirector
James AllenDirector
Jane GoldsteinDirector
Jill GoldenDirector
Jim HaynesDirector
John David MylesDirector
Lindy B StreetDirector
Madison HammanDirector
Marshall FarrerDirector
Orme Sandy Wilson IiiDirector
Phil PoindexterDirector
Shellie BenovitzDirector
Susan Dabney LavinDirector
Ted Steinbock MdDirector
Westray CobbDirector
William Summers VDirector
Angela CurryDirector (ended 1/8/24)
James Kenney IiiSecretary - Director
Beth WisemanTreasurer - Director
Revenue and Support

Revenue Composition

Contributions and Grants
$1,712,956
Program Service Revenue
$160,147
Investment Income
$992,102
Other Revenue
$30,379
All Other Contributions
$1,328,652
Change in Net Assets
$-1,103,980

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded7$164,582Fair Market Value (FMV) on Date of Gift
Food Inventory20$4,300Retail Cost
Books and Publications-$2,250Retail Cost
Clothing and Household Goods-$1,192Retail Cost
Total Noncash Contributions27$172,324-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,854,543
Revenue Not Reported on Financial Statements
$41,041
Revenue Not Reported on Form 990
$2,957,198
Other Revenue Adjustments
$-40,700
Total Revenue per Audited Statements
$5,811,741
Total Revenue per Form 990
$2,895,584
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,435,598
Other Expenses$1,563,966
Total Fundraising Expense$326,821
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,456,545$140,084$155,377$1,752,006
Depreciation Depletion$440,890$24,494$24,494$489,878
Current Officers, Directors, Trustees, and Key Employees$166,308$137,778$60,029$364,115
Occupancy$254,263$12,920$12,920$280,103
Advertising$141,700$389$20,685$162,774
Payroll Taxes$117,404$19,238$15,429$152,071
Other Employee Benefits$95,687$6,742$10,768$113,197
Fees for Service Investment Mgmnt Fees-$81,741-$81,741
Information Technology$20,577$43,664$3,079$67,320
Pension Plan Contributions$44,420$4,283$5,506$54,209
Insurance$46,272$2,746$2,694$51,712
Office Expenses$21,935$20,498$2,094$44,527
Fees for Services Other$30,185$5,294$3,308$38,787
Fees for Services Accounting$9,997$21,214$1,496$32,707
Travel$7,771$16,490$1,163$25,424
Conferences and Meetings$3,727$7,909$558$12,194
Fees for Services Legal$2,149$4,560$321$7,030
All Other Expenses$1,303$2,764$195$4,262
Other Expenses$21,262$3,125$340$340
Total Functional Expenses$3,116,810$555,933$326,821$3,999,564

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$3,999,564
Total Expenses per Audited Statements$3,964,872
Expenses per Audited Statements$3,917,823
Expenses Not Reported on Financial Statements$81,741
Expenses Not Reported on Form 990$47,049
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$29,162
Fundraising Direct Expenses$27,311
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Filson Clay Classic$60,529$29,162$4,148$25,014
Total Events$60,529$29,162$27,311$1,851
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The organization's finance committee reviews the form 990 prior to its filing.

Form 990, Part VI, Section B, Line 12C

Conflict of interest statements are completed at least annually by every officer, director and key employee. No exceptions to report.

Form 990, Part VI, Section B, Line 15

Compensation for the president & ceo is approved by the filson board of directors. The process involves an annual performance review conducted by the chair of the board and the chair of the governance committee, with a recommendation to the full board for approval. For other leadership team employees, multiple comparables are pulled from like organizations and similar fields.

Form 990, Part VI, Section C, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
The Filson Historical Society Inc
EIN
61-0444690
Phone
5026355083
Address
1310 SOUTH THIRD STREET, LOUISVILLE, KY 40208

Signing Officer

Name
Richard Hc Clay
Title
President and CEO
Phone
5026355083
Signed
2025-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick a Lewis
Formed
1892
Legal Domicile
Ky
Voting Board Members
30
Independent Board Members
30
Employees
42
Volunteers
86

Preparer

Firm
Cherry Bekaert Advisory LLC
Address
101 SOUTH 5TH STREET STE 2100, LOUISVILLE, KY 40202
Preparer
Melanie Mcpeak
Phone
8885871719
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of interest in beneficial trust 598,027.

Form 990, Part XII, Line 2C

The process has not changed from prior year. Use of a finance committee comprised of the board treasurer serving as committee chair and at least three additional voting board members. The committee reviews information and reports to the full board of directors.

Financial Statement Notes

PART III, LINE 1A:

The society's historical collection is made up of artifacts of historical significance, such as artwork, books, photographs, and manuscripts. Items are cataloged, preserved and cared for, and activities verifying their existence and assessing their condition are performed continuously. Collection items acquired either through purchase or donation are not capitalized. The cost of objects purchased is included as an expense in the statements of activities and changes in net assets. For the years ended december 31, 2024 and 2023, the society purchased historical objects for $23,252 and $38,602, respectively. Contributions of collection items are not recognized in the statements of activities and changes in net assets.

PART III, LINE 4:

The society's historical collection is made up of artifacts of historical significance, such as artwork, books, photographs, and manuscripts. Items are cataloged, preserved and cared for, and activites verifying their existence and assessing their condition are performed continously. The filson historical society operates with a purpose to collect and preserve historical materials, to publish and disseminate historical information and to stimulate the public's interest in historical inquiry. Such collection furthers this mission.

PART V, LINE 4:

The intended uses of the organization's endowment funds are to support its programs and operations.

PART X, LINE 2:

The society is exempt from income taxes pursuant to section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes is reflected in the accompanying financial statements. The society has also been classified as an entity that is not a private foundation within the meaning of section 509(a) of the internal revenue code. The society recognizes uncertain income tax positions using the more likely than not approach as defined in the asc. No liability for uncertain tax positions has been recorded in the accompanying financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of beneficial trusts 598,027.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Rental expense -731. Events expense -27,311. Cogs -12,658.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expense 731. Events expense 27,311. Cogs 12,658.

Part V, Line 1A

The 2021 beginning balance of the endowment was restated to reflect a reclassification/restatement of restricted net assets on the audited financials statements between board designated endowment assets and beneficial interest in trust

Raw XML AppendixShowing 400 of 865 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE MISSION OF THE FILSON HISTORICAL SOCIETY IS TO COLLECT, PRESERVE, AND SHARE THE SIGNIFICANT HISTORY AND CULTURE OF KENTUCKY AND THE OHIO VALLEY. ITS PURPOSE IS THE BELIEF THAT COMMUNITIES BUILD A STRONGER FUTURE BY BETTER KNOWING THE PAST.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR - DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR - DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER - DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3ASSISTANT TREASURER - DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY - DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR (ENDED 1/8/24)
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IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt31PRESIDENT & CEO (ENDED 12/31/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt32CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt33VICE PRESIDENT (ENDED 12/11/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt34DIRECTOR OF COLLECTIONS AND RESEARCH
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