HISTORIC SALEM INC

EIN: 046191407 501(c)(3)

SALEM, MA

Total Revenue
$190,816
Total Expenses
$116,837
Total Assets
$921,418
Net Assets
$919,928
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Financial Trends

Organization Details

Formation Year
1944
Legal Domicile
MA
Principal Officer
RICHARD LINDEMAN
Phone
9787450799
Tax Period
2024-04-01 to 2025-03-31

HISTORIC SALEM INC, founded in 1944, is a small nonprofit that reported $191K in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $74K, a strong 39% operating margin.

Mission

HISTORIC SALEM'S MISSION IS TO ENSURE THAT THE HISTORIC RESOURCES OF SALEM, MA WHICH ARE THE KEY TO ITS IDENTITY, ITS QUALITY OF LIFE AND ITS ECONOMIC VITALITY, ARE PRESERVED FOR FUTURE GENERATIONS AND THAT NEW DEVELOPMENT COMPLEMENTS THE HISTORIC CHARACTER OF THE CITY. HISTORIC SALEM ACCOMPLISHES ITS MISSION THROUGH PRESERVATION, EDUCATION, ADVOCACY AND PARTNERSHIP.

Program Service Accomplishments

Program 1
Expenses: $57,853

HISTORIC SALEM, INC. (HSI) IS ONE OF THE NATION'S OLDEST PRESERVATION ADVOCACY ORGANIZATIONS, FOUNDED IN 1944 TO SAVE THE HISTORICALLY IMPORTANT JONATHAN CORWIN AND THE NATHANIEL BOWDITCH HOUSES FROM...

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HISTORIC SALEM, INC. (HSI) IS ONE OF THE NATION'S OLDEST PRESERVATION ADVOCACY ORGANIZATIONS, FOUNDED IN 1944 TO SAVE THE HISTORICALLY IMPORTANT JONATHAN CORWIN AND THE NATHANIEL BOWDITCH HOUSES FROM DEMOLITION FOR STREET WIDENING. LATER, HSI WAS A LEADER IN BLOCKING URBAN RENEWAL IN THE 1970S. IN 2000, HSI RETOOK RESPONSIBILITY FOR AND OWNERSHIP OF THE NATIONAL REGISTER NATHANIEL BOWDITCH HOUSE AFTER YEARS OF NEGLECT DURING MUNICIPAL OWNERSHIP, RESTORING ITS LATE 18TH-CENTURY INTERIOR. IN 2022 WE CONTINUED SIGNIFICANT PRESERVATION OF THE HOUSE BY REPLACING THE WOOD SHINGLE ROOF WITH HISTORIC ACCURACY. HSI ACTIVELY COLLABORATES WITH AND ADVOCATES BEFORE NEIGHBORHOOD GROUPS, THE CITY, AND CITY BOARDS AND COMMISSIONS ON ISSUES RANGING FROM DEMOLITION OF HISTORIC STRUCTURES AND NEW DEVELOPMENT TO THE CITY'S PRESERVATION PLANNING AND EXECUTION. IN CONCERT WITH A NEIGHBORHOOD GROUP, IN 2007, HSI SAVED THE 1790S POPE HOUSE, AN EARLY QUAKER-OWNED PROPERTY. IN 2022, WE SUCCESSFULLY ADVOCATED FOR THE CITY AMENDMENT OF ITS DEMOLITION DELAY ORDINANCE TO ENHANCE PROTECTIONS FOR BUILDINGS 50 TO 100 YEARS OLD. HISTORIC SALEM INC HAS A POSITIVE IMPACT ON SHAPING DESIGN PROPOSALS FOR MAJOR DEVELOPMENT PROJECTS IN SALEM, INCLUDING EL CENTRO, A HOUSING AND HEALTH CENTER, THE AC MARRIOTT HOTEL, AND THE LIFEBRIDGE/HARBORLIGHTS DEVELOPMENT. HSI HAS ALSO ACTIVELY ENGAGED IN DISCUSSIONS CONCERNING NEW CONSTRUCTION AT KEY GATEWAY LOCATIONS, SUCH AS 301 ESSEX STREET AND 252 BRIDGE STREET (THE EXCHANGE). ADDITIONALLY HSI PROVIDED CONSULTATION TO THE ROPES MANSION REGARDING THE DESIGN AND INSTALLATION OF SIDEWALK BRICKS AND PROTECTIVE BOLLARDS. HSI ALSO WEIGHED IN ON THE PLANNED RELOCATION OF PIONEER VILLAGE, SALEM'S OPEN AIR MUSEUM THAT INTERPRETS 17TH-CENTURY LIFE. IN 2024, HSI PARTNERED WITH THE GREATER ENDICOTT STREET NEIGHBORHOOD (GESN) TO ASSESS THE AREA'S ELIGIBILITY FOR LISTING ON THE NATIONAL REGISTER OF HISTORIC PLACES. ACTING ON BEHALF OF THE NEIGHBORHOOD, HSI SUBMITTED AN APPLICATION AND SUCCESSFULLY SECURED A MATCHING GRANT FROM THE MASSACHUSETTS HISTORICAL COMMISSION TO SUPPORT A COMPREHENSIVE HISTORIC RESOURCE INVENTORY. HISTORIC SALEM SPONSORS AN ANNUAL CHRISTMAS IN SALEM TOUR FOR THE PUBLIC THAT SHOWCASES HISTORIC HOMES AND BUILDINGS DECORATED FOR THE HOLIDAY SEASON. THIS ANNUAL EVENT DRAWS THOUSANDS OF PEOPLE TO ENJOY THE EXTRAORDINARY WEALTH OF INTACT HISTORICAL ARCHITECTURE AND BUILDING FABRIC IN OUR NEARLY 400-YEAR-OLD COASTAL COMMUNITY. HSI ALSO PRESENTS LECTURES, SYMPOSIA, WALKING TOURS, AND PANEL DISCUSSIONS. IN 2015 WE ORGANIZED WITH THE PEABODY ESSEX MUSEUM A WIDELY RECOGNIZED SYMPOSIUM ON ADA LOUISE HUXTABLE, SHOWCASING HER LEADING ROLE IN LAUNCHING THE NATIONAL HISTORIC PRESERVATION MOVEMENT. THE SYMPOSIUM FOCUSED ON THE IMPORTANCE OF PRESERVATION BOTH FOR ITS SENSE OF PLACE AS WELL AS ITS ECONOMIC VALUE. TALKING ABOUT DESIGN (TAD), AN HSI LECTURE SERIES, FOCUSES ON THE IMPORTANT ELEMENTS OF URBAN DESIGN IN PRESERVATION, AND ITS MORE INFORMAL BEARDS AND BREWS TALKS SHOWCASE INTERESTING ELEMENTS OF HISTORICAL ARCHITECTURE AND SOCIAL HISTORY. ADDITIONALLY, HSI PARTNERS WITH OTHER COMMUNITY NON-PROFITS, INCLUDING THE SALEM ATHENAEUM, THE PICKERING HOUSE, THE HOUSE OF SEVEN GABLES, THE SALEM HISTORICAL SOCIETY, THE SALEM GARDEN CLUB, AND THE PEABODY ESSEX MUSEUM, AND IS A MEMBER OF SALEM'S PRESERVATION PARTNERSHIP.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $59,569
Program Service Revenue $8,586
Investment Income $9,651
Other Revenue $113,010
TOTAL REVENUE $190,816

Expense Breakdown

Grants Paid $0
Salaries & Benefits $26,196
Fundraising Expenses $0
Program Expenses $57,853
Other Expenses $90,641
TOTAL EXPENSES $116,837

Year-over-Year Comparison

2024 2023 Change
Revenue $190,816 $166,380 +0.1%
Expenses $116,837 $122,773 0.0%
Net Income $73,979 $43,607 +0.7%
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
21
Independent Members
21
Employees
N/A
Volunteers
200

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
10
$0
Total Directors
17
$26,196
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARY RAMSAY WILBERT DIRECTOR 2.00
Director
$26,196 $0 $26,196
ADRIENNE ALLARD DIRECTOR 2.00
Officer Director
$0 $0 $0
CONNIE BARLOW DIRECTOR 2.50
Director
$0 $0 $0
LORI BOUDO DIRECTOR 2.00
Director
$0 $0 $0
COLLEEN BREWSTER DIRECTOR 4.00
Director
$0 $0 $0
MARIA BUCKLEY DIRECTOR 2.50
Director
$0 $0 $0
JOHN CASEY DIRECTOR 2.00
Director
$0 $0 $0
DAVID COVIELLO DIRECTOR 0.50
Director
$0 $0 $0
GAVIN GARDNER NATIONAL PAR 2.00
Director
$0 $0 $0
CHERI GRISHIN EDUC PROGRAM 1.00
Officer Director
$0 $0 $0
TIM HAMM DIRECTOR 1.50
Officer Director
$0 $0 $0
JONATHAN LAVASH DIRECTOR 1.50
Officer Director
$0 $0 $0
JULIA LIPPMAN DIRECTOR 2.00
Officer Director
$0 $0 $0
MILO MARTINEZ DIRECTOR 2.00
Director
$0 $0 $0
BRENDAN MURRAY DIRECTOR 0.50
Director
$0 $0 $0
IAN POPKEN DIRECTOR 2.00
Director
$0 $0 $0
KATHLEEN KEEFE TERNES DIRECTOR 0.50
Officer Director
$0 $0 $0
MARY PAX LENNEY TREASURER 8.00
Officer
$0 $0 $0
RICHARD LINDEMAN PRESIDENT 12.00
Officer
$0 $0 $0
TIMOTHY OBERT VICE PRESIDE 4.00
Officer
$0 $0 $0
PAUL WRIGHT VICE PRESIDE 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
2025 $190,816 $116,837 $921,418 $73,979
2024 $166,380 $122,773 $845,093 $43,607
2023 $132,464 $81,176 $777,983 $51,288
2022 $216,976 $78,797 $736,377 $138,179
2021 $105,751 $85,099 $600,628 $20,652
2020 $134,551 $144,124 $555,587 $-9,573
2019 $110,652 $109,025 $574,540 $1,627
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