Solon Historical 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

1968

Legal Domicile

Principal Officer

Robert Shimits

Phone

4402483586

Tax Period

2024-01-01 to 2024-12-31

Solon Historical Society, founded in 1968, is a micro nonprofit that reported $20K in total revenue in fiscal year 2024. Revenue fell 71% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $6K, a strong 30% operating margin.

Mission

Discovery, Preservation And Collection Of any material which establishes and illustrates the History of Solon, Ohio and making that Historical Information accessible.

Program Service Accomplishments

Program 1

Expenses: $13,462

The organization disseminates Historical information and arouses interest in the past by maintaining a museum of historically significant artifacts.

Program 2

College Scholarships (500)were awarded to Solon High School senior based on activity involvement, scholarship and financial need: None

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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 $17,736

Program Service Revenue $0

Investment Income $0

Other Revenue $2,564

TOTAL REVENUE $20,300

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $13,462

Other Expenses $14,212

TOTAL EXPENSES $14,212

Year-over-Year Comparison

	2024	2023	Change
Revenue	$20,300	$71,036	-0.7%
Expenses	$14,212	$13,872	+0.0%
Net Income	$6,088	$57,164	-0.9%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Robert Shimits	President	2.00	Officer Director	$0	$0	$0
Johanna Hamm	Vice President	1.00	Officer Director	$0	$0	$0
Ken Kvacek	Treasurer	2.00	Officer Director	$0	$0	$0
Mary Shimits	Secretary	1.00	Officer Director	$0	$0	$0
Richard Hricik	Trustee	0.50	Director	$0	$0	$0
Jeff Ring	Trustee	0.50	Director	$0	$0	$0
Roger Vannostran	Trustee	0.50	Director	$0	$0	$0
John Zahuranek	Trustee	0.50	Director	$0	$0	$0
Denise Maiorana	Trustee	0.50	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	$20,300	$14,212	$1,308,816	$6,088
2023	$71,036	$13,872	$1,210,065	$57,164
2022	$34,894	$17,916	$1,015,062	$16,978
2021	$78,935	$9,414	$1,202,909	$69,521
2020	$52,878	$10,662	$1,074,228	$42,216
2019	$49,583	$32,599	$1,019,612	$16,984
2018	$96,422	$13,023	$882,166	$83,399