Racine County Historical Society & Museum Inc

Nonprofit profile at a glance

EIN
391433914
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Racine, WI, USA
Phone
2626363926
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$426,803
Expenses
$403,484
Assets
$3,126,162
Liabilities
$27,899

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

Leadership & pay

10 people listed

Highest reported compensation

  • CHRISTOPHER PAULSON (Executive Direc): $71,172 total reported compensation

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

Overview

Mission

Racine County Historical Society & Museum, Inc. serves the community by advancing an understanding and appreciation of history and cultural heritage through research, publications, educational activities and the display of collections.

What it reported doing in 2024

Operation, preservation and maintenance of a historical museum- 20,000 visitors during 2024

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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 83
  • Accountability: 90
  • Sustainability: 58
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.4%; rating input score 77
  • Program expense ratio: 66%; rating input score 66
  • Fundraising efficiency: $8.58 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.5%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 7.75; rating input score 86; 86th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 17.6%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: 2.2% per year; rating input score 100; 41st percentile among comparable filings
  • Revenue growth: -5.2% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: 6.1% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 77.4% of revenue deployed · 66% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $266K in reported program spending
  • Leadership: top reported pay $71K · 10 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 35/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.