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Lorain Historical Society

EIN 34-1441511 · Lorain, OH

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak45 out of 100GovernanceStrong97 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

LORAIN HISTORICAL SOCIETYS MISSION IS TO ENGAGE MEMBERS OF THE COMMUNITY AND OUR VISITORS IN OUR SHARED AND DIVERSE HISTORY THROUGH PRESERVATION, EDUCATION, AND COLLABORATION

Income
$564,218
Spending
$679,268
Spent on programs
80%
Reserves
-1 months of spending
Largest source of income
donations and private grants, 76%
Employees
5
Volunteers
35
Highest pay
$75,000, executive director

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 45 out of 100.

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    20 of 20

    It owes 3% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 20% of income.

  • Income trend

    10 of 15

    Income fell 6% on the year before.

  • Spending floor

    15 of 15

    80% of spending went to programs and raising each dollar of donations cost 3 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 97 out of 100.

  • Independent board

    25 of 25

    13 of 13 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    12 of 15

    Its accounts were reviewed or compiled by an independent accountant, but not audited.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $540,892 spent. THE ORGANIZATION COLLECTS ARTIFACTS ON THE HISTORY OF LORAIN, HAS 4,000 PAPER FILES ON EVENTS AND PEOPLE IN LORAIN AND HAS A COLLECTION OF OVER 7,000 HISTORICAL PHOTOGRAPHS. THE ORGANIZATION OPERATES THE MOORE HOUSE AS A COLLECTIONS FACILITY WITH TWO FLOORS BEING USED FOR COLLECTIONS AND STORAGE, AND THE FIRST FLOOR BEING USED FOR OFFICE AND PROGRAM SPACES. THE ORGANIZATION OWNS AND OPERATES THE CARNEGIE CENTER AS ITS PRIMARY EXHIBIT SPACE AND ADMINISTRATIVE OFFICES. NOT ONLY DOES THE LORAIN HISTORICAL SOCIETY HOLD EVENTS AT BOTH LOCATIONS FOR RESIDENTS OF THE COMMUNITY AND VISITORS TO THE CITY, BUT IT ALSO HAS REGULAR PROGRAMS AT VARIOUS LOCATIONS THROUGHOUT THE CITY OVER THE COURSE OF THE YEAR.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since September 1984.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.