Waseca County Historical Society

Nonprofit profile at a glance

EIN
410966847
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Waseca, MN, USA
Phone
5078357700
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Historical Societies & Historic Preservation

Official website

Reported finances

Revenue
$233,186
Expenses
$223,986
Assets
$1,113,723
Liabilities
$3,281

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

Leadership & pay

13 people listed

Executive titles in this filing

  • DIANE BECKMANN (President)
  • MARTY BUUM (Vice President)

Highest reported compensation

  • JOAN MOONEY (Co Exec Directo): $32,457 total reported compensation
  • AMY DANIELSON (Co Exec Directo): $767 total reported compensation

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

Overview

Mission

The mission of the Waseca County Historical Society is to collect, preserve, interpret and disseminate the history of Waseca County and its citizens; and to create excitement and interest in that past.

What it reported doing in 2024

WCHS ExhibitsWCHS has a permanent, growing collection of artifacts numbering over 40,000; and about 17,000 images scanned--all catalogued and archivally stored. Retrieving the collection's stories and information, and bringing them to the community with meaning and respect is certainly part of our mission. Everything is accessible via our searchable website. We have completed the process of bringing our collection of key artifacts representing the essential history of Waseca County in the form of a Timeline on our balcony level of the museum. The Timeline exhibit will be part of new programming and expanded hours for family visits to the museum. In addition to the permanent collection, we mount about two temporary exhibitions every year, and a holiday open house exhibit.

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. Revenue has declined or grown slowly and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 82
  • Accountability: 85
  • Sustainability: 55
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.7%; rating input score 82
  • Program expense ratio: 80.3%; rating input score 80
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th 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: 91.7%; rating input score 92; 25th 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.9%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 4.97; rating input score 79; 79th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 52; 52nd percentile among comparable filings
  • Officer compensation ratio: 14.8%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: -0.5% per year; rating input score 0; 22nd percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 81.7% of revenue deployed · 80.3% of spending went to programs
  • Governance: 11 of 12 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $180K in reported program spending
  • Leadership: top reported pay $32K · 13 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Review — Sustainability: Liabilities to assets ratio scored 52/100.