SPRINGFIELD MUSEUMS CORPORATION

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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

1864

Legal Domicile

Principal Officer

KAY SIMPSON

Phone

4132636800

Tax Period

2024-07-01 to 2025-06-30

SPRINGFIELD MUSEUMS CORPORATION, founded in 1864, is a mid-sized nonprofit in the Education sector that reported $10.4M in total revenue in fiscal year 2024. Expenses of $10.0M left a modest 4% surplus.

Mission

THE SPRINGFIELD MUSEUMS CORPORATION IS A NON-PROFIT ORGANIZATION WHICH HOLDS AND CARES FOR COLLECTIONS IN THE FIELDS OF ART, HISTORY, AND SCIENCE AND MAKES THEM ACCESSIBLE FOR EDUCATIONAL, RECREATIONAL AND INFORMATIONAL PURPOSES TO A DIVERSE AUDIENCE.

Program Service Accomplishments

Program 1

Expenses: $7,475,253 Revenue: $1,203,836

PROVIDED THE PUBLIC WITH VARIOUS MATERIALS, PROGRAMS, OBJECTS AND ARTIFACTS FOR EDUCATIONAL, RECREATIONAL AND INFORMATIONAL PURPOSES. SERVING APPROXIMATELY 600,000 INDIVIDUALS.

Program 2

Expenses: $640,986 Revenue: $133,760

EDUCATIONAL PROGRAMS FOR SCHOOL CHILDREN INCLUDING INTERPRETIVE TOURS, HANDS-ON SCIENCE PROGRAMS, PLANETARIUM SHOWS, ART DISCOVERY ADVENTURES, AND LOCAL HISTORY ACTIVITIES.

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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 $5,720,376

Program Service Revenue $1,328,548

Investment Income $2,928,943

Other Revenue $447,641

TOTAL REVENUE $10,425,508

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,316,198

Fundraising Expenses $447,657

Program Expenses $8,116,239

Other Expenses $4,651,414

TOTAL EXPENSES $9,967,612

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,425,508	$10,464,335	0.0%
Expenses	$9,967,612	$9,366,366	+0.1%
Net Income	$457,896	$1,097,969	-0.6%

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

181

Volunteers

125

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

$508,846

Total Directors

$264,841

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WAYNE GASS	TRUSTEE	1.00	Director	$0	$0	$0
KATHLEEN SIMPSON	PRESIDENT	40.00	Officer Director	$264,841	$0	$264,841
AUGUSTINE KIM ESQ	TRUSTEE	1.00	Director	$0	$0	$0
FRANCIS J CATALDO JR	VICE CHAIR	1.00	Director	$0	$0	$0
PATRICK J SULLIVAN	TRUSTEE	1.00	Director	$0	$0	$0
SAM HANMER	TREASURER	1.00	Officer Director	$0	$0	$0
LYDIA MARTINEZ-ALVAREZ	TRUSTEE	1.00	Director	$0	$0	$0
HELEN CAULTON-HARRIS	TRUSTEE	1.00	Director	$0	$0	$0
MARA SFARA	TRUSTEE	1.00	Director	$0	$0	$0
JOHN M O'BRIEN	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD E RYALL	TRUSTEE	1.00	Director	$0	$0	$0
ANTHONY TRANGHESE	CLERK	1.00	Officer Director	$0	$0	$0
ROGER CRANDALL	TRUSTEE	1.00	Director	$0	$0	$0
GLENN S WELCH	TRUSTEE	1.00	Director	$0	$0	$0
MELINDA M PHELPS ESQ	TRUSTEE	1.00	Director	$0	$0	$0
JAMES F MARTIN ESQ	TRUSTEE	1.00	Director	$0	$0	$0
VANESSA OTERO	TRUSTEE	1.00	Director	$0	$0	$0
TERRY POWE	TRUSTEE	1.00	Director	$0	$0	$0
DR DAVID LONGWORTH	TRUSTEE	1.00	Director	$0	$0	$0
JANE ALBERT	TRUSTEE	1.00	Director	$0	$0	$0
CHRISTOPHER BOROWIEC	TRUSTEE	1.00	Director	$0	$0	$0
HEATHER HASKELL	VICE PRESIDENT	40.00	Officer	$118,442	$0	$118,442
MARK TEED	ASSISTANT TREASURER	1.00	Officer	$0	$0	$0
DR MARK KEROACK	VICE CHAIR	1.00	Officer	$0	$0	$0
CYNTHIA CAMPBELL	CHAIR	1.00	Officer	$0	$0	$0
ANTHONY SURRETTE	VICE PRESIDENT	40.00	Officer	$125,563	$0	$125,563

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	$10,425,508	$9,967,612	$97,880,440	$457,896
2024	$10,464,335	$9,366,366	$92,733,348	$1,097,969
2023	$9,845,732	$8,387,402	$88,937,732	$1,458,330
2022	$9,886,411	$7,729,425	$83,263,430	$2,156,986
2021	$8,222,892	$7,546,645	$84,395,702	$676,247
2020	$6,947,811	$7,843,857	$63,738,656	$-896,046
2019	$7,130,485	$7,857,726	$65,613,700	$-727,241