SALEM HISTORICAL SOCIETY SALEM HIS… - Form 990 Financial Data

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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

1947

Legal Domicile

Principal Officer

JAY WOOTTEN

Phone

3303378514

Tax Period

2023-01-01 to 2023-12-31

SALEM HISTORICAL SOCIETY SALEM HISTORICAL SOCIETY, founded in 1947, is a small nonprofit that reported $157K in total revenue in fiscal year 2023. Expenses of $191K exceeded revenue, resulting in a 22% operating deficit.

Mission

THE SALEM HISTORICAL SOCIETY MUSEUM IS A NONPROFIT VOLUNTEER ORGANIZATION WHICH MAINTAINS FOUR BUILDINGS TO HOUSE AND DISPLAY THE MANY HISTORICAL ARTIFACTS. ITS PURPOSE IS TO COLLECT, EXPLAIN, AND PRESERVE SALEM'S HISTORY.

Program Service Accomplishments

Program 1

Expenses: $32,357

TROLLEY TOURS OF THE COMMUNITY FEATURING HIGHLIGHTS OF SIGNIFICANT HISTORICAL SITES IN THE COMMUNITY

Program 2

Expenses: $1,833

OPERATION OF MUSEUM STORE-SALES OF HISTORIC MEMORABILIA TO EDUCATE THE COMMUNITY ABOUT THE HISTORY OF THE AREA

Program 3

Expenses: $155,616

AS A PUBLIC SERVICE, THIS ORGANIZATION COLLECTS AND DISPLAYS IN A MUSEUM, HISTORICAL ARTIFACTS OF THE CITY OF SALEM, OHIO AND THE SURROUNDING COMMUNITY

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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 $46,312

Program Service Revenue $36,080

Investment Income $74,290

Other Revenue $494

TOTAL REVENUE $157,176

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $189,806

Other Expenses $190,983

TOTAL EXPENSES $190,983

Year-over-Year Comparison

	2023	2022	Change
Revenue	$157,176	$150,200	+0.0%
Expenses	$190,983	$194,031	0.0%
Net Income	$-33,807	$-43,831	-0.2%

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

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
JOE ARMENI	TRUSTEE	1.00	Director	$0	$0	$0
SHERRY AYERS	TRUSTEE	1.00	Director	$0	$0	$0
KEN BANET	TREASURER	1.00	Director	$0	$0	$0
NANCY CIOTTI	SECRETARY	1.00	Director	$0	$0	$0
JAN COX	TRUSTEE	1.00	Director	$0	$0	$0
K CRAIG FEHR	TRUSTEE	1.00	Director	$0	$0	$0
DIXIE GORDON	TRUSTEE	N/A	Director	$0	$0	$0
DAVID HUGHES	TRUSTEE	1.00	Director	$0	$0	$0
KEITH MANN	TRUSTEE	1.00	Director	$0	$0	$0
RUTH NEWMAN	TRUSTEE	1.00	Director	$0	$0	$0
LOIS PENNELL	TRUSTEE	1.00	Director	$0	$0	$0
KEVIN SCHAFFER	VP	N/A	Director	$0	$0	$0
W JIM SWETYE	TRUSTEE	1.00	Director	$0	$0	$0
BRIAN WHITEHALL	TRUSTEE	1.00	Director	$0	$0	$0
JAY WOOTTEN	PRESIDENT	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	No data	No data	No data	No data
2023	$157,176	$190,983	$2,751,320	$-33,807
2022	$150,200	$194,031	$2,767,161	$-43,831
2021	$138,209	$153,576	$3,065,884	$-15,367
2020	$93,918	$180,514	$2,819,027	$-86,596
2019	$158,299	$153,584	$2,851,442	$4,715
2018	$144,175	$103,359	$2,773,275	$40,816

SALEM HISTORICAL SOCIETY SALEM HISTORICAL SOCIETY