FAIRFIELD HISTORICAL SOCIETY DBA F… - Form 990 Financial Data

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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

1903

Legal Domicile

Principal Officer

STEVE SCHIFFMAN

Phone

2032591598

Tax Period

2024-07-01 to 2025-06-30

FAIRFIELD HISTORICAL SOCIETY DBA FAIRFIELD MUSEUM, founded in 1903, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. Expenses of $1.5M exceeded revenue, resulting in a 18% operating deficit.

Mission

THE FAIRFIELD MUSEUM PRESERVES AND INTERPRETS THE HISTORY OF FAIRFIELD, CT AND SURROUNDING COMMUNITIES. THROUGH CHANGING EXHIBITIONS, SCHOOL AND PUBLIC PROGRAMS, THE ORGANIZATION SPARKS DIALOGUE, INSPIRES MEANINGFUL COLLABORATIONS, AND DELIBERATES THE CHALLENGES OF THE FUTURE.

Program Service Accomplishments

Program 1

Expenses: $1,097,981 Revenue: $104,105

FAIRFIELD MUSEUM WELCOMES MORE THAN 37,000 VISITORS FROM THROUGHOUT NEW ENGLAND FOR A WIDE RANGE OF EXHIBITIONS, EDUCATION PROGRAMS, SCHOOL VISITS AND SPECIAL EVENTS. MORE THAN 4,500 OF THOSE ARE...

FAIRFIELD MUSEUM WELCOMES MORE THAN 37,000 VISITORS FROM THROUGHOUT NEW ENGLAND FOR A WIDE RANGE OF EXHIBITIONS, EDUCATION PROGRAMS, SCHOOL VISITS AND SPECIAL EVENTS. MORE THAN 4,500 OF THOSE ARE STUDENTS WHO VISIT ON FIELD TRIPS FROM 65 SCHOOLS THROUGHOUT FAIRFIELD COUNTY TO LEARN ABOUT THEIR COMMUNITY AND HOW THEY CAN BE ACTIVE AND RESPONSIBLE CITIZENS FOR THE FUTURE. THE MUSEUM OFFERS MORE THAN 200 ADULT AND FAMILY PROGRAMS EACH YEAR THAT PROVIDE IMPORTANT OPPORTUNITIES FOR INDIVIDUALS FROM DIFFERENT BACKGROUNDS WITH DIVERSE OPINIONS TO COME TOGETHER TO DISCUSS CRITICAL ISSUES FACING OUR COMMUNITY AND SOCIETY AT LARGE.

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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 $651,914

Program Service Revenue $86,838

Investment Income $437,254

Other Revenue $61,640

TOTAL REVENUE $1,237,646

Expense Breakdown

Grants Paid $0

Salaries & Benefits $984,682

Fundraising Expenses $125,203

Program Expenses $1,097,981

Other Expenses $477,106

TOTAL EXPENSES $1,461,788

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,237,646	$1,121,356	+0.1%
Expenses	$1,461,788	$1,468,987	0.0%
Net Income	$-224,142	$-347,631	-0.4%

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

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

$309,939

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE SCHIFFMAN	PRESIDENT	5.00	Officer Director	$0	$0	$0
LAURA WILSON	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
CHRIS DALEY	TREASURER	5.00	Officer Director	$0	$0	$0
SUSAN BONNER	SECRETARY	5.00	Officer Director	$0	$0	$0
EDIE BLAIR	DIRECTOR	5.00	Director	$0	$0	$0
KATE BROWNING	DIRECTOR	5.00	Director	$0	$0	$0
ELLEN GOULD	DIRECTOR	5.00	Director	$0	$0	$0
JOYCE HERGENHAN	DIRECTOR	5.00	Director	$0	$0	$0
MONICA MCGRATH	DIRECTOR BEGINING 5/20/25	5.00	Director	$0	$0	$0
PATRICIA SPAGHT	DIRECTOR	5.00	Director	$0	$0	$0
NIELS LYNG-OLSEN	DIRECTOR	5.00	Director	$0	$0	$0
TOM MINDRUM	DIRECTOR	5.00	Director	$0	$0	$0
JASON MUDD	DIRECTOR	5.00	Director	$0	$0	$0
JOE ROG	DIRECTOR	5.00	Director	$0	$0	$0
JOHN TRAYNOR	DIRECTOR BEGINING 5/20/25	5.00	Director	$0	$0	$0
GERALD TORRES	DIRECTOR	5.00	Director	$0	$0	$0
BILL WINGET	DIRECTOR	5.00	Director	$0	$0	$0
DAVID HERMENZE	DIRECTOR THROUGH 5/20/25	5.00	Director	$0	$0	$0
ROSE THOMAS	DIRECTOR THROUGH 5/20/25	5.00	Director	$0	$0	$0
MICHAEL JEHLE	EXECUTIVE DIRECTOR	40.00	Officer	$282,631	$27,308	$309,939
MICHELLE CHENG	DEPUTY DIRECTOR FOR PROGRAMS	40.00	Highest	$100,495	$12,002	$112,497

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	$1,237,646	$1,461,788	$13,789,426	$-224,142
2024	$1,121,356	$1,468,987	$13,194,774	$-347,631
2023	$1,098,040	$1,436,941	$12,677,136	$-338,901
2022	$1,219,328	$1,362,823	$12,480,196	$-143,495
2021	$1,131,378	$1,107,750	$14,643,090	$23,628
2020	$780,949	$1,266,872	$12,376,384	$-485,923
2019	$1,198,981	$1,414,870	$12,895,939	$-215,889

FAIRFIELD HISTORICAL SOCIETY DBA FAIRFIELD MUSEUM