SALEM OFFICE OF TOURISM & CULTURAL AFFAIRS INC D/B/A DESTINATION SALEM (EIN 043430140) - 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

1998

Legal Domicile

Principal Officer

ASHLEY JUDGE

Phone

9787413252

Tax Period

2024-07-01 to 2025-06-30

SALEM OFFICE OF TOURISM & CULTURAL AFFAIRS INC D/B/A DESTINATION SALEM, founded in 1998, is a community nonprofit in the Community Improvement sector that reported $1.2M in total revenue in fiscal year 2024. Revenue surged 53% from the prior year, signaling strong growth momentum. The organization ran a surplus of $238K, a strong 19% operating margin.

Mission

TO COOPERATIVELY MARKET, PROMOTE AND MANAGE TOURISM IN SALEM, MASSACHUSETTS.

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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 $415,631

Program Service Revenue $693,894

Investment Income $3,517

Other Revenue $126,654

TOTAL REVENUE $1,239,696

Expense Breakdown

Grants Paid $0

Salaries & Benefits $431,028

Fundraising Expenses $0

Other Expenses $570,286

TOTAL EXPENSES $1,001,314

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,239,696	$812,778	+0.5%
Expenses	$1,001,314	$935,184	+0.1%
Net Income	$238,382	$-122,406	-2.9%

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

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

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

$111,062

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIELLE TURNER	PRESIDENT	2.00	Officer Director	$0	$0	$0
KAREN GAHAGEN	VP	2.00	Officer Director	$0	$0	$0
WENDY MEIGS	CLERK	2.00	Officer Director	$0	$0	$0
JESS MOODY	TREASURER	2.00	Officer Director	$0	$0	$0
JACQUELINE VALATKA	DIRECTOR	1.00	Director	$0	$0	$0
ASHLEY TINA	DIRECTOR	1.00	Director	$0	$0	$0
ASHLEY GANEM	DIRECTOR	1.00	Director	$0	$0	$0
TAMMY HARRINGTON	DIRECTOR	1.00	Director	$0	$0	$0
MATT SMITH	DIRECTOR	1.00	Director	$0	$0	$0
BETH CROWLEY	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET ROCKETT	DIRECTOR	1.00	Director	$0	$0	$0
MARLEY CHASE	DIRECTOR	1.00	Director	$0	$0	$0
JEFF SWARTZ	EX OFFICIO	1.00	Director	$0	$0	$0
KYLIE SULLIVAN	EX OFFICIO	1.00	Director	$0	$0	$0
KATE NEWHALL-SMITH	EX OFFICIO	1.00	Director	$0	$0	$0
ALICE MERKL	EX OFFICIO	1.00	Director	$0	$0	$0
DOMINICK PANGALLO	EX OFFICIO	1.00	Director	$0	$0	$0
ASHLEY JUDGE	EXECUTIVE DIRECTOR FROM 06/2024	40.00	Officer	$46,115	$0	$46,115
KARA MCLAUGHLIN	INTERIM EXECUTIVE DIRECTOR THRU 06/2024	24.00	Officer	$64,947	$0	$64,947

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	$1,239,696	$1,001,314	$625,879	$238,382
2024	$812,778	$935,184	$386,731	$-122,406
2023	$983,890	$1,086,863	$497,757	$-102,973
2022	$991,960	$707,674	$706,312	$284,286
2021	$560,454	$534,901	$459,346	$25,553
2020	$516,535	$565,630	$332,412	$-49,095
2019	$627,775	$600,325	$339,986	$27,450
2018	$581,496	$542,649	$312,536	$38,847

SALEM OFFICE OF TOURISM & CULTURAL AFFAIRS INC D/B/A DESTINATION SALEM