MARBLEHEAD MUSEUM & HISTORICAL SOCIETY INC

EIN: 046003248 501(c)(3) Arts, Culture & Humanities

MARBLEHEAD, MA

Total Revenue
$926,858
Total Expenses
$338,508
Total Assets
$4,194,487
Net Assets
$4,168,143
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Financial Trends

Organization Details

Formation Year
1902
Legal Domicile
MA
Principal Officer
LAUREN MCCORMACK
Phone
7816311768
Tax Period
2024-01-01 to 2024-12-31

MARBLEHEAD MUSEUM & HISTORICAL SOCIETY INC, founded in 1902, is a small nonprofit in the Arts, Culture & Humanities sector that reported $927K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $588K, a strong 63% operating margin.

Mission

THE MARBLEHEAD MUSEUM'S MISSION IS TO PRESERVE, PROTECT, AND PROMOTE MARBLEHEAD'S PAST AS A MEANS OF ENRICHING THE PRESENT. THE MUSEUM SHALL COLLECT, STUDY, AND CONSERVE SUCH HISTORICAL MATERIALS AS RELATED TO THE TOWN AND OF THE PERSONS WHOSE LIVES HAVE CONTRIBUTED TO THE DEVELOPMENT OF MARBLEHEAD, AND OTHERWISE INFLUENCED ITS HISTORY. IT SHALL CONSERVE AND PRESERVE RELICS AND PROPERTY OF THE PAST, SUCH AS THE JEREMIAH LEEE MANSION AND THE CIVIL WAS & GRAND ARMY OF THE REPUBLIC MUSEUM, AND OTHER PROPERTY, BOTH REAL AND PERSONAL, AS MAY BE GIVEN, BEQUEATHED, PURCHASED, LOANED TO OR OTHERWISE ACQUIRED BY THE MUSEUM. THE MUSEUM WILL USE THE COLLECTION FOR THE EDUCATION, ENJOYMENT, AND BENEFIT OF THE GENERAL PUBLIC. THE MUSEUM IS AN EDUCATIONAL RESOURCE FOR RESIDENTS OF MARBLEHEAD, VISITORS, AND SCHOLARS FROM AROUND THE WORLD.

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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 $770,351
Program Service Revenue $36,215
Investment Income $110,201
Other Revenue $10,091
TOTAL REVENUE $926,858

Expense Breakdown

Grants Paid $0
Salaries & Benefits $162,812
Fundraising Expenses $27,597
Program Expenses $198,547
Other Expenses $175,696
TOTAL EXPENSES $338,508

Year-over-Year Comparison

2024 2023 Change
Revenue $926,858 $842,953 +0.1%
Expenses $338,508 $371,945 -0.1%
Net Income $588,350 $471,008 +0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
10
Employees
6
Volunteers
75

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
5
$0
Total Directors
7
$65,458
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LAUREN MCCORMACK EXECUTIVE DIRECTOR 37.50
Director
$65,458 $0 $65,458
MAURA K PHELAN IMMEDIATE PAST PRESIDENT 2.00
Director
$0 $0 $0
BONNIE BUCKLEY DIRECTOR 2.00
Director
$0 $0 $0
PATTI D BAKER DIRECTOR 2.00
Director
$0 $0 $0
ANDREW PEACH DIRECTOR 2.00
Director
$0 $0 $0
KAREN ROSENBERG DIRECTOR 2.00
Director
$0 $0 $0
HAROLD KOKONOS DIRECTOR 2.00
Director
$0 $0 $0
PATTY PEDERSON PRESIDENT 2.00
Officer
$0 $0 $0
KIMBERLY DOWNING SECRETARY/DIRECTOR 2.00
Officer
$0 $0 $0
PATRICIA LAUSIER TREASURER/DIRECTOR 2.00
Officer
$0 $0 $0
KARL SMITH TREASURER (APRIL ON) 2.00
Officer
$0 $0 $0
MAEVE RICE VICE PRESIDENT 2.00
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 $926,858 $338,508 $4,194,487 $588,350
2023 $842,953 $371,945 $3,484,120 $471,008
2022 $774,870 $294,168 $2,840,399 $480,702
2021 $625,313 $298,439 $2,846,956 $326,874
2020 $336,399 $256,252 $2,339,299 $80,147
2019 $310,095 $312,435 $2,272,247 $-2,340
2018 $533,520 $333,179 $2,074,230 $200,341
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