WORCESTER HISTORICAL MUSEUM

EIN: 042105858 501(c)(3) Arts, Culture & Humanities

WORCESTER, MA

Total Revenue
$2,093,290
Total Expenses
$2,239,039
Total Assets
$19,693,125
Net Assets
$19,321,677
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
MA
Principal Officer
WILLIAM WALLACE
Phone
5087538278
Tax Period
2024-07-01 to 2025-06-30

WORCESTER HISTORICAL MUSEUM, founded in 1977, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.1M in total revenue in fiscal year 2024. Revenue surged 113% from the prior year, signaling strong growth momentum. Net assets of $19.3M represent 111 months of operating reserves.

Mission

WORCESTER HISTORICAL MUSEUM REBRANDED AS PART OF ITS 150TH ANNIVERSARY ON JANUARY 23, 2025, AS WORCESTER HISTORICAL MUSEUM DBA MUSEUM OF WORCESTER - A UNIQUE ORGANIZATION DEDICATED TO COLLECTING, PRESERVING, AND INTERPRETING WORCESTER'S HISTORY IN ALL TIME PERIODS AND SUBJECT AREAS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,114,185
Program Service Revenue $77,669
Investment Income $790,829
Other Revenue $110,607
TOTAL REVENUE $2,093,290

Expense Breakdown

Grants Paid $0
Salaries & Benefits $916,746
Fundraising Expenses $338,454
Program Expenses $925,507
Other Expenses $1,322,293
TOTAL EXPENSES $2,239,039

Year-over-Year Comparison

2024 2023 Change
Revenue $2,093,290 $982,936 +1.1%
Expenses $2,239,039 $1,996,995 +0.1%
Net Income $-145,749 $-1,014,059 -0.9%
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

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Liquidity & Cash Position

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

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Governance

Voting Members
24
Independent Members
24
Employees
21
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
9
$158,395
Total Directors
25
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DIANE GIAMPA PRESIDENT 2.00
Officer Director
$0 $0 $0
MICHAEL BAFARO TRUSTEE 2.00
Officer Director
$0 $0 $0
ROBERT BLUTE III TRUSTEE 2.00
Officer Director
$0 $0 $0
GAIL C FERREIRA PAST PRESIDENT 2.00
Officer Director
$0 $0 $0
THOMAS L FITZPATRICK VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
EDGAR LUNA VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
ROBERT E PAULSEN JR TREASURER 2.00
Officer Director
$0 $0 $0
PATRICIA PETERLEITNER VICE PRESIDENT 2.00
Officer Director
$0 $0 $0
WENDY AMDREWS SECRETARY 2.00
Director
$0 $0 $0
CHRISTINA ANDRIANOPOULOS TRUSTEE 2.00
Director
$0 $0 $0
MARK BORENSTEIN VICE PRESIDENT 2.00
Director
$0 $0 $0
SUSAN BUTLER TRUSTEE 2.00
Director
$0 $0 $0
MARITZA CRUZ TRUSTEE 2.00
Director
$0 $0 $0
CAROLINE FOLEY TRUSTEE 2.00
Director
$0 $0 $0
VIRGINIA GLAZIER TRUSTEE 2.00
Director
$0 $0 $0
NEIL ISAKSON TRUSTEE 2.00
Director
$0 $0 $0
PATRICK LOWE TRUSTEE 2.00
Director
$0 $0 $0
AMY SKRZEK STILLMAN TRUSTEE 2.00
Director
$0 $0 $0
JESSICA WALSH TRUSTEE 2.00
Director
$0 $0 $0
URSULA ARELLO TRUSTEE 2.00
Director
$0 $0 $0
PATRICK LOWE TRUSTEE 2.00
Director
$0 $0 $0
DAVID RUSHFORD TRUSTEE 2.00
Director
$0 $0 $0
AARON STEPHENSON TRUSTEE 2.00
Director
$0 $0 $0
ABIGAIL ORLEANS THOMPSON TRUSTEE 2.00
Director
$0 $0 $0
JETARI VEAL TRUSTEE 2.00
Director
$0 $0 $0
WILLIAM WALLACE EXECUTIVE DIRECTOR 50.00
Officer
$158,395 $0 $158,395
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
2025 $2,093,290 $2,239,039 $19,693,125 $-145,749
2024 No data No data No data No data
2023 $2,022,289 $2,033,643 $18,267,013 $-11,354
2022 $3,037,678 $1,923,589 $17,403,532 $1,114,089
2021 $1,279,524 $1,622,653 $19,635,661 $-343,129
2020 $1,339,301 $1,502,055 $16,940,464 $-162,754
2019 $4,133,683 $1,565,025 $17,546,052 $2,568,658
2018 $2,216,453 $1,304,445 $15,353,315 $912,008
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