PRESERVATION WORCESTER INC (EIN 237073959) - Form 990 Financial Analysis & Trantor Score

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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

1969

Legal Domicile

Principal Officer

DEBORAH PACKARD

Phone

5087548760

Tax Period

2024-01-01 to 2024-12-31

PRESERVATION WORCESTER INC, founded in 1969, is a small nonprofit in the Arts, Culture & Humanities sector that reported $888K in total revenue in fiscal year 2024. Revenue surged 163% from the prior year, signaling strong growth momentum. The organization ran a surplus of $515K, a strong 58% operating margin.

Mission

TO PROVIDE AN ORGANIZATION DEVOTED EXCLUSIVELY TO THE PROSECUTION OF HISTORIC PRESERVATION, ANTIQUARIAN, EDUCATIONAL, HISTORICAL, LITERARY, ARTISITIC AND MONUMENTAL PURPOSES, NO PART OF THE NET EARNINGS OF WHICH INURES TO THE BENEFIT OF ANY INDIVIDUAL AND NO SUBSTANTIAL PART OF THE ACTIVITES OF WHICH IS CARRYING PROPOGANDA, OR OTHERWISE ATTEMPTING TO INFLUENCE LEGISLATION; AND IN FURTHERANCE OF SAID PURPOSES TO PROMOTE AND ENCOURAGE THE PRESERVATION AND APPRECIATION OF THE HERITAGE OF THE CITY OF WORCESTER, FIRST BY PRESERVING SITES, STRUCTURES AND ARTIFACTS WHICH ARE SIGNIFICANT TO ITS CULTURE, HISTORY AND ARCHITECTURE, SECOND BY RESEARCH, SURVEYS, INVENTORIES, PUBLIC EDUCATIONAL PROGRAMS AND LECTURES, THIRD, BY WORKING WITH PLANNING AGENCIES AND CONCERNED CITIZENS, AND FOURTH BY DOING ALL THINGS IN FURTHERANCE OF SAID PURPOSES AS PERMITTED UNDER THE LAWS OF THE COMMONWEALTH OF MASSACHUSETTS.

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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 $713,679

Program Service Revenue $1,150

Investment Income $51,625

Other Revenue $121,252

TOTAL REVENUE $887,706

Expense Breakdown

Grants Paid $0

Salaries & Benefits $210,890

Fundraising Expenses $60,099

Program Expenses $216,949

Other Expenses $161,373

TOTAL EXPENSES $372,263

Year-over-Year Comparison

	2024	2023	Change
Revenue	$887,706	$337,412	+1.6%
Expenses	$372,263	$347,207	+0.1%
Net Income	$515,443	$-9,795	-53.6%

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

100

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

$112,439

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MORRIS BERGMAN	ASSISTANT TREASURER	2.00	Officer Director	$0	$0	$0
JANET BIRBARA	DIRECTOR	1.00	Director	$0	$0	$0
NOAH BOMBARD	DIRECTOR	2.00	Director	$0	$0	$0
TIMOTHY CORRINET	DIRECTOR	0.50	Director	$0	$0	$0
PAUL CURCI	DIRECTOR	1.00	Director	$0	$0	$0
DAVID FORT	DIRECTOR	0.50	Director	$0	$0	$0
ROBERT PARA JR	DIRECTOR	2.00	Director	$0	$0	$0
RACHAEL HALL	DIRECTOR	1.00	Director	$0	$0	$0
JAMES WELU	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
ELAINE GARDELLA	DIRECTOR	0.50	Director	$0	$0	$0
DOROTHY HARGROVE	DIRECTOR	3.00	Director	$0	$0	$0
JAMES HOW	TREASURER	2.00	Officer Director	$0	$0	$0
JOEL KENT	DIRECTOR	0.50	Director	$0	$0	$0
RAFAEL LAZO	CLERK	0.50	Officer Director	$0	$0	$0
MARY BETH LEONARD	DIRECTOR	0.50	Director	$0	$0	$0
STUART SADICK	PRESIDENT	1.00	Director	$0	$0	$0
DENISE O'CONNELL	DIRECTOR	1.00	Director	$0	$0	$0
ERIKA CAWLEY	DIRECTOR	1.00	Director	$0	$0	$0
HOWARD LUCAS	DIRECTOR	1.00	Director	$0	$0	$0
MINDY MARCHAND	DIRECTOR	1.00	Director	$0	$0	$0
DEBORAH PACKARD	EXECUTIVE DIRECTOR	40.00	Officer	$112,439	$0	$112,439

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	$887,706	$372,263	$3,284,226	$515,443
2023	$337,412	$347,207	$2,698,349	$-9,795
2022	$1,599,066	$445,284	$2,609,509	$1,153,782
2021	$362,914	$302,221	$1,738,532	$60,693
2020	$421,414	$387,064	$1,631,501	$34,350
2019	$459,848	$364,275	$1,911,311	$95,573
2018	$291,125	$339,383	$1,727,735	$-48,258

PRESERVATION WORCESTER INC