WESTERLY ARMORY RESTORATION INC

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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

1992

Legal Domicile

Principal Officer

ROBERTA MUDGE HUMBLE

Tax Period

2023-10-01 to 2024-09-30

WESTERLY ARMORY RESTORATION INC, founded in 1992, is a small nonprofit in the Arts, Culture & Humanities sector that reported $155K in total revenue in fiscal year 2023. The organization ran a surplus of $31K, a strong 20% operating margin.

Mission

THE MISSION OF WESTERLY ARMORY RESTORATION, INC IS TO RESTORE THE HISTORIC WESTERLY ARMORY (NATIONAL REGISTER OF HISTORIC PLACES AND A SAVE AMERICAS TREASURES SITE) FOR USE BY ITS COMMUNITY AS A MUSEUM AND COMMUNITY BUILDING.

Program Service Accomplishments

Program 1

Expenses: $68,040

BUILDING MAINTENANCE, INSURANCE AND UTILITIES TO KEEP BUILDING AVAILABLE TO COMMUNITY GROUPS AND EVENTS AND ALSO TO HOUSE THE MUSEUM PORTION OF THE PROPERTY. THIS ALSO INCLUDES A 90% ALLOCATION OF...

BUILDING MAINTENANCE, INSURANCE AND UTILITIES TO KEEP BUILDING AVAILABLE TO COMMUNITY GROUPS AND EVENTS AND ALSO TO HOUSE THE MUSEUM PORTION OF THE PROPERTY. THIS ALSO INCLUDES A 90% ALLOCATION OF DEPRECIATION ON THE BUILDING, EQUIPMENT, FIXTURES AND MUSEUM EQUIPMENT.

Program 2

Expenses: $21,451

OUR SOLE PAID EMPLOYEE HANDLES GENERAL MAINTENANCE, BOOKING COMMUNITY EVENTS IN THE HALL, AND ACCESS FOR THE PUBLIC. 75% OF THE WAGES AND RELATED PAYROLL TAXES ARE INCLUDED.

Program 3

Expenses: $5,045

70% OF OFFICE EXPENSES, AND GENERAL SUPPLIES ARE DEEMED TO SUPPORT THE PROGRAMS.

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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 $106,045

Program Service Revenue $18,628

Investment Income $3,415

Other Revenue $27,224

TOTAL REVENUE $155,312

Expense Breakdown

Grants Paid $0

Salaries & Benefits $28,602

Fundraising Expenses $9,939

Program Expenses $94,536

Other Expenses $95,949

TOTAL EXPENSES $124,551

Year-over-Year Comparison

	2023	2022	Change
Revenue	$155,312	$151,665	+0.0%
Expenses	$124,551	$122,357	+0.0%
Net Income	$30,761	$29,308	+0.0%

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

$26,250

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN G HUMBLE	TREASURER	25.00	Officer	$26,250	$0	$26,250
ELIZABETH COFFEY	DIRECTOR	5.00	Director	$0	$0	$0
KENNETH BURTON SR	DIRECTOR	5.00	Director	$0	$0	$0
CHRISTOPHER TURCO	DIRECTOR	5.00	Director	$0	$0	$0
ALEXANDER BERARDO	DIRECTOR	5.00	Director	$0	$0	$0
ERNEST CASSIS	DIRECTOR	5.00	Director	$0	$0	$0
ROBERTA MUDGE HUMBLE	PRESIDENT	15.00	Officer	$0	$0	$0
RICHARD SICILIANO	VICE PRESIDENT	10.00	Officer	$0	$0	$0
RALPH ABRUZZESE	SECRETARY	5.00	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	$155,312	$124,551	$1,408,581	$30,761
2023	$151,665	$122,357	$1,377,820	$29,308
2022	$222,230	$108,562	$1,348,525	$113,668
2021	$166,246	$101,700	$1,234,674	$64,546
2020	$112,563	$101,455	$1,175,710	$11,108
2019	$102,313	$99,768	$1,159,020	$2,545
2018	$161,637	$120,574	$1,156,475	$41,063