North Andover Historical Society

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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

1933

Legal Domicile

Principal Officer

Mark Svendsen

Phone

9786864035

Tax Period

2024-01-01 to 2024-12-31

North Andover Historical Society, founded in 1933, is a small nonprofit in the Arts, Culture & Humanities sector that reported $541K in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $618K exceeded revenue, resulting in a 14% operating deficit.

Mission

The North Andover Historical Society's mission is to be a hub for culture, history, and community engagement. Using its multiple properties, the society host programs and collects, preserves, and shares material the reflects the region's identity, excited the imagination, and promotes a sustainable society. With its roots as a history-focused educational institution, the society has been, and remains, an active and vibrant center of activity for those who class North Andover and the Greater Merrimack Valley home

Program Service Accomplishments

Program 1

Expenses: $429,584 Revenue: $44,587

We are proud of our 45-year history of working for the school children of North Andover. During this time, we have established a close partnership with the local teachers at various grade levels and have offered teacher training and access to primary sources when requested. We have collaborated on the development of social studies kits for grades K-1 to support early learning initiatives. We continue to invite local teachers to contribute post-visit activity materials for a "pop-up" exhibit, which are featured in out history discovery room. In our venture of saving the textile history museum in Lowell, we have expanded our audience into Lowell and Lawrence.

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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 (2024)

Revenue Breakdown

Contributions & Grants $360,813

Program Service Revenue $33,543

Investment Income $135,837

Other Revenue $11,044

TOTAL REVENUE $541,237

Expense Breakdown

Grants Paid $0

Salaries & Benefits $158,480

Fundraising Expenses $68,754

Program Expenses $429,584

Other Expenses $426,047

TOTAL EXPENSES $617,558

Year-over-Year Comparison

	2024	2023	Change
Revenue	$541,237	$457,978	+0.2%
Expenses	$617,558	$595,428	+0.0%
Net Income	$-76,321	$-137,450	-0.4%

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

Volunteers

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

$86,266

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Stan Limpert	Trustee	2.00	Director	$0	$0	$0
Therese Leone	Trustee	2.00	Director	$0	$0	$0
James Worden	Trustee	2.00	Director	$0	$0	$0
Stuart Peskoe	Trustee	2.00	Director	$0	$0	$0
Kyle Scandore	Trustee	2.00	Director	$0	$0	$0
Mark Pelletier	Trustee	2.00	Director	$0	$0	$0
Leah Piantedosi	Trustee	2.00	Director	$0	$0	$0
David Kres	President	5.00	Officer	$0	$0	$0
Mark Svendsen	Treasurer	5.00	Officer	$0	$0	$0
Tracy Wakeman	Secretary	4.00	Officer	$0	$0	$0
Michael Lenihan	Vice President	4.00	Officer	$0	$0	$0
Joanna Collantine Kerr	Executive Director	40.00	Officer	$84,725	$1,541	$86,266

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	$541,237	$617,558	$5,033,306	$-76,321
2023	$457,978	$595,428	$4,823,629	$-137,450
2022	$312,939	$484,394	$4,782,283	$-171,455
2021	$474,451	$467,680	$5,491,357	$6,771
2020	$1,656,180	$268,409	$6,398,178	$1,387,771
2020	$894,030	$268,409	$5,416,781	$625,621
2019	$749,624	$293,210	$4,748,153	$456,414
2018	$222,970	$249,586	$4,030,646	$-26,616