HOBOKEN HISTORICAL MUSEUM 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

1986

Legal Domicile

Principal Officer

ROBERT FOSTER

Phone

2016562240

Tax Period

2024-01-01 to 2024-12-31

HOBOKEN HISTORICAL MUSEUM INC, founded in 1986, is a small nonprofit that reported $529K in total revenue in fiscal year 2024. Revenue surged 55% from the prior year, signaling strong growth momentum. The organization ran a surplus of $158K, a strong 30% operating margin.

Mission

HHM WAS FOUNDED IN 1986 TO STIMULATE INTEREST IN HOBOKEN HISTORY THROUGH THE INSTALLATION OF ORIGINAL EXHIBITS; THE COLLECTION AND PRESERVATION OF ARTIFACTS; AND THE DOCUMENTATION OF HOBOKEN'S PHYSICAL AND CULTURAL HERITAGE; THE PUBLISHING OF ORAL HISTORY BOOKLETS, AND NEWSLETTERS. HHM ADVANCES THE UNDERSTANDING AND EXPLORATION OF HOBOKEN HISTORY, CULTURE AND ARCHITECTURE.

Program Service Accomplishments

Program 1

Expenses: $275,217

THE MUSEUM PRODUCES CHANGING EXHIBITS IN ITS MAIN GALLERY THAT RUN FOR APPROXIMATELY SIX MONTHS EACH. IN ADDITION THE MUSEUM PRODUCES 6-8 ART EXHIBITS PER YEAR IN A SMALLER GALLERY. THE MUSEUM IS...

THE MUSEUM PRODUCES CHANGING EXHIBITS IN ITS MAIN GALLERY THAT RUN FOR APPROXIMATELY SIX MONTHS EACH. IN ADDITION THE MUSEUM PRODUCES 6-8 ART EXHIBITS PER YEAR IN A SMALLER GALLERY. THE MUSEUM IS OPEN SIX DAYS A WEEK. THE MUSEUM COLLECTION IS MAINTAINED IN A SEPARATE SPACE FOR THE STORAGE OF ITS 50,000 ARTIFACTS. THE MUSEUM HAS AN EDUCATION PROGRAM BASED ON HOBOKEN'S HISTORY THAT IS AVAILABLE TO ALL SCHOOLS IN THE REGION. THE MUSEUM OPERATES THE CITY'S FIREHOUSE MUSEUM AS WELL.

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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 $324,865

Program Service Revenue $38,381

Investment Income $29,903

Other Revenue $135,390

TOTAL REVENUE $528,539

Expense Breakdown

Grants Paid $0

Salaries & Benefits $178,624

Fundraising Expenses $40,306

Program Expenses $275,217

Other Expenses $191,760

TOTAL EXPENSES $370,384

Year-over-Year Comparison

	2024	2023	Change
Revenue	$528,539	$341,923	+0.5%
Expenses	$370,384	$353,757	+0.0%
Net Income	$158,155	$-11,834	-14.4%

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

$74,648

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT FOSTER	Director	40.00	Officer	$74,648	$0	$74,648
VALERIE HUFNAGEL	President	2.00	Officer Director	$0	$0	$0
WILLIAM TOBIAS	Treasurer	2.00	Officer Director	$0	$0	$0
GREGORY BYRNES	BOARD MEMBER	1.00	Director	$0	$0	$0
Katherine Kingsbury	BOARD MEMBER	1.00	Director	$0	$0	$0
Greg Dell'Aquila	BOARD MEMBER	1.00	Director	$0	$0	$0
FRED BADO	BOARD MEMBER	1.00	Director	$0	$0	$0
TIM MURPHY	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL BARRY	BOARD MEMBER	1.00	Director	$0	$0	$0
THALER PEKAR	BOARD MEMBER	1.00	Director	$0	$0	$0
IRENE SOBOLOV	BOARD MEMBER	1.00	Director	$0	$0	$0
ANTHONY VETRANO	BOARD MEMBER	1.00	Director	$0	$0	$0
GERRI FALLO	BOARD MEMBER	1.00	Director	$0	$0	$0
JIM PERRY	BOARD MEMBER	1.00	Director	$0	$0	$0
TOM BRENNAN	BOARD MEMBER	1.00	Director	$0	$0	$0
Ellen Stewart	BOARD MEMBER	1.00	Director	$0	$0	$0
MERRITT PATERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
ANA SANCHEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
KATE VALENTA	BOARD MEMBER	1.00	Director	$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	$528,539	$370,384	$952,846	$158,155
2023	$341,923	$353,757	$775,995	$-11,834
2022	$349,905	$317,730	$758,709	$32,175
2021	$479,508	$319,516	$767,438	$159,992
2020	$314,801	$282,741	$605,796	$32,060
2019	$323,606	$321,204	$530,452	$2,402
2018	$339,732	$338,770	$519,517	$962