Falls Village-Canaan Historical Society Inc

EIN: 237102741 501(c)(3) Arts, Culture & Humanities

Falls Village, CT

Total Revenue
$29,050
Total Expenses
$38,088
Total Assets
$1,126,617
Net Assets
$1,126,221
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1971
Legal Domicile
CT
Principal Officer
Judy Jacobs
Phone
8608247730
Tax Period
2024-01-01 to 2024-12-31

Falls Village-Canaan Historical Society Inc, founded in 1971, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $29K in total revenue in fiscal year 2024. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $38K exceeded revenue, resulting in a 31% operating deficit.

Mission

Educational and charitable museum that houses, preserves and shares local genealogical archives and historical artifacts.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $32,963
Program Service Revenue $0
Investment Income $910
Other Revenue $-4,823
TOTAL REVENUE $29,050

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $36,532
Other Expenses $38,088
TOTAL EXPENSES $38,088

Year-over-Year Comparison

2024 2023 Change
Revenue $29,050 $39,012 -0.3%
Expenses $38,088 $51,916 -0.3%
Net Income $-9,038 $-12,904 -0.3%
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

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Liquidity & Cash Position

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Governance

Voting Members
17
Independent Members
17
Employees
N/A
Volunteers
14

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
1
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Judy Jacobs President 3.00
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 $29,050 $38,088 $1,126,617 $-9,038
2023 $39,012 $51,916 $1,161,220 $-12,904
2022 $39,616 $40,851 $1,156,377 $-1,235
2021 $31,961 $16,122 $1,159,779 $15,839
2020 $28,151 $14,570 $1,149,623 $13,581
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