FIRE MUSEUM OF MARYLAND 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

1971

Legal Domicile

Phone

4103217500

Tax Period

2023-01-01 to 2023-12-31

FIRE MUSEUM OF MARYLAND INC, founded in 1971, is a small nonprofit in the Arts, Culture & Humanities sector that reported $474K in total revenue in fiscal year 2023. Net assets of $3.1M represent 79 months of operating reserves.

Mission

RESTORATION, DISPLAY OF ANTIQUE FIRE FIGHTING EQUIPMENT, AND TEACHING FIRE FIGHTING HISTORY, FIRE SAFETY, AND PREVENTION.

Program Service Accomplishments

Program 1

Expenses: $418,070

COLLECT, PRESERVE, DISPLAY, AND INTERPRET HISTORICALLY SIGNIFICANT FIRE EQUIPMENT & MEMORABILIA. EDUCATE THE PUBLIC ABOUT THE HISTORY OF FIRE SERVICE AND PRESERVATION.

Program 2

Expenses: $8,554

MEMBERSHIP PROGRAM TO DISSEMINATE INFORMATION ABOUT THE MUSEUM TO THE PUBLIC VIA NEWSLETTERS AND OTHER MAILINGS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $255,693

Program Service Revenue $83,030

Investment Income $95,473

Other Revenue $39,911

TOTAL REVENUE $474,107

Expense Breakdown

Grants Paid $0

Salaries & Benefits $189,173

Fundraising Expenses $0

Program Expenses $426,624

Other Expenses $283,976

TOTAL EXPENSES $473,149

Year-over-Year Comparison

	2023	2022	Change
Revenue	$474,107	$495,381	0.0%
Expenses	$473,149	$486,579	0.0%
Net Income	$958	$8,802	-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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Thomas M Bruggman	President	5.00	Officer Director	$0	$0	$0
Eric Walker	Vice President	5.00	Officer Director	$0	$0	$0
James Melia	Secretary	5.00	Officer Director	$0	$0	$0
Philp G Ghassemieh	Director	5.00	Director	$0	$0	$0
Jordan M Halle	Director	5.00	Director	$0	$0	$0
MELISSA HEAVER	Director	40.00	Director	$0	$0	$0
DEAN A DENNING	Director	5.00	Director	$0	$0	$0
Angelo Otterbein	Director	5.00	Director	$0	$0	$0
Ross Shaffer	Director	5.00	Director	$0	$0	$0
Thomas Heaver	Director	5.00	Director	$0	$0	$0
STEPHEN G HEAVER JR	Executive Dir.	40.00	Officer Director	$0	$0	$0
Jack Day	Director	5.00	Director	$0	$0	$0
Todd Huff	Director	5.00	Director	$0	$0	$0
W Lee Smith III	Treasurer	5.00	Officer 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	No data	No data	No data	No data
2023	$474,107	$473,149	$3,826,234	$958
2022	$495,381	$486,579	$3,828,937	$8,802
2021	$471,689	$349,113	$3,805,004	$122,576
2021	$1,437,306	$350,657	$4,769,077	$1,086,649
2020	$441,366	$278,081	$3,723,810	$163,285
2019	$467,361	$329,546	$3,518,451	$137,815
2018	$484,160	$440,375	$3,388,843	$43,785