Historic Salem Courthouse Preservation Assocation Inc (EIN 020558625) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2002

Legal Domicile

Principal Officer

Herbert Perkins

Phone

5188547053

Tax Period

2023-01-01 to 2023-12-31

Historic Salem Courthouse Preservation Assocation Inc, founded in 2002, is a small nonprofit in the Arts, Culture & Humanities sector that reported $277K in total revenue in fiscal year 2023. Net assets of $787K represent 34 months of operating reserves.

Mission

To preserve and protect the historic Washington County Courthouse, built in 1869, located in the Village and Town of Salem, Washington County, New York. To develop a consensus within the community regarding the use of the building and to develop programs consistent with the wishes of the community.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $158,029

Program Service Revenue $55,653

Investment Income $535

Other Revenue $63,105

TOTAL REVENUE $277,322

Expense Breakdown

Grants Paid $17,770

Salaries & Benefits $116,014

Fundraising Expenses $9,246

Program Expenses $203,950

Other Expenses $135,255

TOTAL EXPENSES $269,039

Year-over-Year Comparison

	2023	2022	Change
Revenue	$277,322	$266,608	+0.0%
Expenses	$269,039	$274,449	0.0%
Net Income	$8,283	$-7,841	-2.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Ammaturo	Director	2.00	Director	$0	$0	$0
Mary Menard	Director	5.00	Director	$0	$0	$0
Beth Ulion	Director	2.00	Director	$0	$0	$0
Jill Nadolski	Director	5.00	Director	$0	$0	$0
Tim Whalen	Director	8.00	Director	$0	$0	$0
Patty Burch	Director	17.00	Director	$0	$0	$0
Todd Degarmo	Director	10.00	Director	$0	$0	$0
Karen Sheldon	Secretary	10.00	Officer	$0	$0	$0
Herb Perkins	President	20.00	Officer	$0	$0	$0
Christine Michael	Vice President	25.00	Officer	$0	$0	$0
Karen Pfindel	Treasurer	10.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$277,322	$269,039	$787,799	$8,283
2022	$266,608	$274,449	$782,458	$-7,841
2021	$201,935	$193,340	$790,892	$8,595
2020	$149,471	$138,153	$789,265	$11,318
2019	$230,653	$202,041	$787,489	$28,612
2018	$234,522	$193,487	$740,380	$41,035

Historic Salem Courthouse Preservation Assocation Inc