Cook County Historical Society

Nonprofit profile at a glance

EIN
416038622
IRS 990 coverage
2013–2024
Forms available
Form 990 2024
Location
Grand Marais, MN, USA
Phone
2183872883
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies & Historic Preservation

Official website

Reported finances

Revenue
$303,895
Expenses
$320,544
Assets
$1,883,117
Liabilities
$4,921

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • MARGARET HEDSTROM (PRESIDENT)

People named in this filing

  • MYRON BURSHEIM (EX OFFICIO)
  • TERESA BRAGG (SECRETARY)
  • ANN SULLIVAN (EX OFFICIO)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The collection, preservation, and dissemination of knowledge about the history of cook county and to relate it to the history of the state of monnesota. Founded in 1924, it operates five historical buildings plus a 1935 fishing tug. All are free to the public, serving both residents and the many visitors.

What it reported doing in 2024

With funds obtained through donations and grants the organization is able to maintain and preserve historical sites and artifacts for public display in order to share the rich history of cook county Minnesota with thousands of visitors each year

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.7%; rating input score 97
  • Program expense ratio: 89.7%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.5%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 5.87; rating input score 82; 82nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 6.8% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 0.9% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 96.7% of revenue deployed · 89.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $287K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 28/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.