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Rice County Historical Society

EIN 41-1432857 · Faribault, MN

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

LegitimacyPassesRegistration and standingFinancial healthStrong100 out of 100GovernanceGood80 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE RICE COUNTY HISTORICAL SOCIETY MANAGES 8 HISTORIC BUILDINGS AND A COLLECTION OF OVER 120,000 ITEMS. WE ARE DEDICATE TO HELPING PRESERVE AND EDUCATE ON THE HISTORY AND CULTURE OF THE PEOPLES OF RICE COUNTY.

Income
$316,661
Spending
$250,245
Spent on programs
70%
Reserves
34.7 months of spending
Largest source of income
donations and private grants, 58%
Employees
6
Volunteers
125

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 100 out of 100. Higher than 88% of charities in its peer group (arts and culture, $250k to $1m).

  • Reserves

    35 of 35

    Spendable reserves would cover 34.7 months of spending.

  • Debt

    20 of 20

    It owes 1% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 21% of income.

  • Income trend

    15 of 15

    Income rose 55% on the year before.

  • Spending floor

    15 of 15

    70% of spending went to programs and raising each dollar of donations cost 9 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 80 out of 100. Higher than 62% of charities in its peer group (arts and culture, $250k to $1m).

  • Independent board

    25 of 25

    20 of 20 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

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Independent check of accounts

    6 of 15

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

  • 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, 2025, 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. $176,007 spent. THE MUSEUM PROVIDES GUIDED AND SELF-GUIDED PUBLIC TOURS THAT INTERPRET THE HISTORY, ARCHITECTURE, AND DAILY LIFE ASSOCIATED WITH SEVERAL HISTORIC SITE BUILDINGS. THESE TOURS ARE OPEN TO THE GENERAL PUBLIC AND OFFER EDUCATIONAL EXPERIENCES FOR VISITORS OF ALL AGES, INCLUDING FAMILIES, STUDENTS, LOCAL RESIDENTS, AND TOURISTS. FEATURED TOUR LOCATIONS INCLUDE THE LOG CABIN, WHICH HELPS ILLUSTRATE EARLY SETTLER LIFE AND THE CHALLENGES OF FRONTIER LIVING; THE ONE-ROOM SCHOOLHOUSE, WHICH DEMONSTRATES HISTORIC RURAL EDUCATION PRACTICES AND THE EXPERIENCE OF STUDENTS AND TEACHERS IN AN EARLIER ERA; THE ALEXANDER FARIBAULT HOUSE, WHICH HIGHLIGHTS THE LIFE, INFLUENCE, AND HISTORICAL SIGNIFICANCE OF ALEXANDER FARIBAULT AND HIS ROLE IN THE COMMUNITY'S DEVELOPMENT; AND THE AGRICULTURE AND INDUSTRIAL BUILDING, WHICH PRESENTS EXHIBITS AND INTERPRETATION RELATED TO THE AREA'S AGRICULTURAL HERITAGE, LOCAL INDUSTRY, TOOLS, EQUIPMENT, AND THE ECONOMIC ACTIVITIES THAT SHAPED THE REGION.THROUGH THESE PUBLIC TOURS, THE MUSEUM PRESERVES AND SHARES LOCAL HISTORY, PROVIDES HISTORICAL CONTEXT FOR THE COMMUNITY'S DEVELOPMENT, AND INCREASES PUBLIC UNDERSTANDING OF THE CULTURAL, EDUCATIONAL, AGRICULTURAL, AND INDUSTRIAL FOUNDATIONS OF THE AREA. TOURS ARE DESIGNED TO MAKE REGIONAL HISTORY ACCESSIBLE AND ENGAGING BY CONNECTING VISITORS DIRECTLY WITH HISTORIC STRUCTURES, ARTIFACTS, AND STORIES FROM THE PAST.

Source: Form 990 for the year ending December 31, 2025, 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 2025.

    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 December 1977.

    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.

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