Historic Worthington Inc
- Assets
- $1.8m
- Revenue
- $79.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Worthington, MN
- Founding
- 04/2004
- Data as of
- 12/2019
- EIN
- 20-0766117
Organization Overview
Historic Worthington Inc is located in Worthington, MN. The organization was established in 2004. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2019, Historic Worthington Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Historic Worthington Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2019, Historic Worthington Inc generated $79.3k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $122.8k during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVATION EFFORTS OF HISTORICAL AND CULTURAL LANDMARKS TO HELPFOSTER INTEREST FROM THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDRAISING EVENTS TO PRESERVE HISORICAL AND CULUTURAL LANDMARKS
FUNDRAISING EVENTS TO PRESERVE HISORICAL AND CULUTURAL LANDMARKS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Veen Vice Chairperson | OfficerTrustee | 2 | $0 |
Paula Stock Chairperson | OfficerTrustee | 2 | $0 |
Denise Schlichte Director | Trustee | 1 | $0 |
Kelsey Shea Director | Trustee | 1 | $0 |
Rob Carstensen Director | Trustee | 1 | $0 |
Jill Cuperus Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $11,250 |
| Fundraising events | $12,377 |
| Related organizations | $0 |
| Government grants | $1,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,239 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,866 |
| Total Program Service Revenue | $28,988 |
| Investment income | $26,441 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,936 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,934 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $79,293 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $39,416 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,158 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $860 |
| Office expenses | $1,905 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,718 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,867 |
| Insurance | $13,151 |
| All other expenses | $4,891 |
| Total functional expenses | $122,802 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $497 |
| Savings and temporary cash investments | $26,191 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$235 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,127,736 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $619,398 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,773,587 |
| Accounts payable and accrued expenses | -$4,943 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | -$4,943 |
| Net assets without donor restrictions | $1,778,530 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,773,587 |
Endowment Analysis
| Beg. Balance | $533,998 |
| Earnings | $85,400 |
| Ending Balance | $619,398 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Minnesota Historical Society Saint Paul, MN | $261,681,031 | $58,257,393 |
Pioneer Home Incorporated Fergus Falls, MN | $18,276,562 | $17,034,682 |
Hoyt Sherman Place Foundation Des Moines, IA | $25,209,028 | $4,318,549 |
American Opinion Foundation Inc Appleton, WI | $4,682,811 | $5,136,878 |
Clover Fields Preservation Foundation Inc Minneapolis, MN | $10,552,332 | $5,740,196 |
The Basilica Landmark Minneapolis, MN | $10,889,737 | $3,579,135 |
Orpheum Theatre Preservation Project Ltd Sioux City, IA | $9,952,360 | $2,698,691 |
Badlands Natural History Association Inc Interior, SD | $3,710,673 | $1,802,760 |
Franklin County Fair Foundation Hampton, IA | $108,954 | $446,222 |
Wisconsin Vietnam Veterans Memorial Project Inc Neillsville, WI | $4,698,350 | $1,226,254 |
South Dakota Historical Society Foundation Pierre, SD | $2,393,071 | $765,039 |
Burlington Riverfront Entertainment Burlington, IA | $130,152 | $703,143 |