PROVIDENCE PRESERVATION 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

1956

Legal Domicile

Principal Officer

MARISA BROWN

Phone

4018317440

Tax Period

2023-01-01 to 2023-12-31

PROVIDENCE PRESERVATION SOCIETY, founded in 1956, is a small nonprofit in the Arts, Culture & Humanities sector that reported $824K in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. Net assets of $4.1M represent 59 months of operating reserves.

Mission

SINCE 1956, THE PROVIDENCE PRESERVATION SOCIETY HAS WORKED TO IMPROVE PROVIDENCE BY ADVOCATING FOR HISTORIC PRESERVATION AND THE ENHANCEMENT OF THE CITY'S UNIQUE CHARACTER THROUGH THOUGHTFUL DESIGN AND PLANNING.

Program Service Accomplishments

Program 1

Expenses: $377,954

THE PROVIDENCE PRESERVATION SOCIETY IS THE LARGEST CITYWIDE ADVOCACY ORGANIZATION IN RHODE ISLAND, WITH APPROXIMATELY 500 MEMBER-HOUSEHOLDS. TO BE EFFECTIVE ADVOCATES, WE ENGAGE THE PUBLIC THROUGHOUT THE YEAR IN EDUCATIONAL PROGRAMS THAT FORM THE UNDERPINNING FOR THE COMMUNITY'S UNDERSTANDING AND APPRECIATION FOR HISTORIC PLACES AS WELL AS HIGH-QUALITY URBAN ENVIRONMENTS. IN 2022, OUR PUBLIC ENGAGEMENT PROGRAMS SERVED MORE THAN 3,800 PEOPLE. IN THE LAST 12 MONTHS, WE HAVE HAD 33,000 USERS OF THE ONLINE ARCHITECTURE GUIDE, AND 31,000 USERS OF THE MAIN PPS WEBSITE. WE HAVE 4,961 SUBSCRIBERS TO OUR EMAIL LIST, WITH AN AVERAGE 48% OPEN RATE.

Program 2

Expenses: $115,638

THE PPS'S PLANNING AND ARCHITECTURAL REVIEW COMMITTEE MEETS ALMOST MONTHLY TO CONDUCT INDEPENDENT PROJECT REVIEW OF MAJOR AND MINOR PROPOSED DEVELOPMENTS. IN MOST CASES, THESE ARE DEVELOPMENTS FOR...

THE PPS'S PLANNING AND ARCHITECTURAL REVIEW COMMITTEE MEETS ALMOST MONTHLY TO CONDUCT INDEPENDENT PROJECT REVIEW OF MAJOR AND MINOR PROPOSED DEVELOPMENTS. IN MOST CASES, THESE ARE DEVELOPMENTS FOR NEW BUILDINGS, ALTHOUGH SOME INCLUDE CHANGES TO HISTORIC BUILDINGS. MAJOR REVIEWS ARE CONTINUING ON PROPOSED DEVELOPMENTS IN THE I-195 DESIGN AND INNOVATION DISTRICT. BEYOND REVIEWING INDIVIDUAL PROJECTS, PPS ADVOCATES FOR GOOD CITYWIDE AND STATEWIDE PUBLIC POLICIES, SUCH AS HISTORIC TAX CREDITS, DEMOLITION,ZONING CODES, AND INCLUSIVE PLANNING PRACTICES. WE ALSO CONSULT WITH INDIVIDUAL PROPERTY OWNERS ON AN AD HOC BASIS, HELPING SHAPE THE CITY IN WAYS THAT ARE RARELY PUBLICIZED. MOST OF THE EXPENSES RELATED TO ADVOCACY ARE FOR RESEARCH ON POLICY TOPICS, MONITORING ISSUES AND APPEARING AT PUBLIC HEARINGS. ADVOCACY PROGRAM SERVICES IMPACT THE ENTIRE CITY OF PROVIDENCE WHICH HAS A POPULATION OF APPROXIMATELY 190,000.

Program 3

Expenses: $14,265 Revenue: $4,800

THROUGH ITS HISTORIC PROPERTY MARKER PROGRAM, PPS RECOGNIZES BUILDINGS IN THE CITY OF PROVIDENCE THAT CONTRIBUTE IN A POSITIVE WAY TO THE APPRECIATION AND UNDERSTANDING OF PROVIDENCE'S UNIQUE...

THROUGH ITS HISTORIC PROPERTY MARKER PROGRAM, PPS RECOGNIZES BUILDINGS IN THE CITY OF PROVIDENCE THAT CONTRIBUTE IN A POSITIVE WAY TO THE APPRECIATION AND UNDERSTANDING OF PROVIDENCE'S UNIQUE ARCHITECTURAL, HISTORICAL AND CULTURAL HERITAGE. THERE ARE MORE THAN 1,600 PROPERTY MARKERS ON BUILDINGS THROUGHOUT THE CITY OF PROVIDENCE, EACH MOUNTED ON BUILDINGS IN A WAY THAT ALLOWS PUBLIC VIEWING. SOME RECORDS CAN BE FOUND AT GOWDEY.PPSRI.ORG.ADDITIONAL INFORMATION ON PROVIDENCE'S BUILDINGS CAN BE FOUND IN THE ONLINE GUIDE TO PROVIDENCE ARCHITECTURE, MODELED AFTER THE 2003 BOOK PUBLICATION OF THE SAME NAME. GUIDE.PPSRI.ORGWE ARE DEVELOPING AN INTERPRETIVE EXHIBIT FOR INSTALLATION ON THE GROUNDS OF AND INSIDE THE 1769 OLD BRICK SCHOOL HOUSE, 24 MEETING STREET, THAT SPEAKS TO THE HISTORY AND PRESERVATION OF THE COLLEGE HILL NEIGHBORHOOD.

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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 (2023)

Revenue Breakdown

Contributions & Grants $668,365

Program Service Revenue $25,729

Investment Income $110,292

Other Revenue $19,678

TOTAL REVENUE $824,064

Expense Breakdown

Grants Paid $0

Salaries & Benefits $388,802

Fundraising Expenses $174,866

Program Expenses $519,975

Other Expenses $479,753

TOTAL EXPENSES $871,155

Year-over-Year Comparison

	2023	2022	Change
Revenue	$824,064	$626,432	+0.3%
Expenses	$871,155	$745,925	+0.2%
Net Income	$-47,091	$-119,493	-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

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

$88,512

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WARREN JAGGER	PRESIDENT	1.00	Officer Director	$0	$0	$0
CATHERINE LUND	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KEVIN HUNDLEY	TREASURER	1.00	Officer Director	$0	$0	$0
JARED SUGERMAN	SECRETARY	1.00	Officer Director	$0	$0	$0
KATHRYN J CAVANAUGH	TRUSTEE	1.00	Director	$0	$0	$0
JOANNA DOHERTY	TRUSTEE	1.00	Director	$0	$0	$0
PIERSON W BOOHER	TRUSTEE	1.00	Director	$0	$0	$0
HEATHER EVANS	TRUSTEE	1.00	Director	$0	$0	$0
ROCHELLE LEE	TRUSTEE	1.00	Director	$0	$0	$0
BARRY W FAIN	TRUSTEE	1.00	Director	$0	$0	$0
WENDY MACGAW	TRUSTEE (RESIGNED)	1.00	Director	$0	$0	$0
JONATHAN PITTS-WILEY	TRUSTEE	1.00	Director	$0	$0	$0
KAMARIA HAYDEN	TRUSTEE	1.00	Director	$0	$0	$0
SHIDEH SHAFIE	TRUSTEE	1.00	Director	$0	$0	$0
BARBARA SOKOLOFF	TRUSTEE	1.00	Director	$0	$0	$0
ANTHONY L HUBBARD	TRUSTEE	1.00	Director	$0	$0	$0
ROSA PASTOR	TRUSTEE	1.00	Director	$0	$0	$0
WM MCKENZIE WOODWARD	TRUSTEE	1.00	Director	$0	$0	$0
CARRIE ZASLOW	TRUSTEE	1.00	Director	$0	$0	$0
KATY POMPLUN	TRUSTEE	1.00	Director	$0	$0	$0
BRENT RUNYON	EXECUTIVE DIRECTOR(THROUGH 6/30/23)	40.00	Officer	$60,434	$8,502	$68,936
MARISA BROWN	EXECUTIVE DIRECTOR (BEGINNING 10/15/23)	40.00	Officer	$17,083	$2,493	$19,576

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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$824,064	$871,155	$4,474,181	$-47,091
2022	$626,432	$745,925	$4,075,784	$-119,493
2021	$1,289,482	$781,495	$4,480,028	$507,987
2020	$549,513	$687,879	$3,638,608	$-138,366
2019	$1,129,306	$670,878	$3,486,713	$458,428
2018	$1,410,994	$720,842	$2,875,320	$690,152