RIVERS OF STEEL HERITAGE CORPORATI… - 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

1992

Legal Domicile

Principal Officer

MARY W MURRIN

Phone

4124644020

Tax Period

2025-01-01 to 2025-12-31

RIVERS OF STEEL HERITAGE CORPORATION, founded in 1992, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $11.1M in total revenue in fiscal year 2025. Revenue surged 70% from the prior year, signaling strong growth momentum. The organization ran a surplus of $6.8M, a strong 61% operating margin.

Mission

RIVERS OF STEEL HERITAGE CORPORATION CONSERVES, INTERPRETS, DEVELOPS, AND PROMOTES HISTORICAL, CULTURAL AND RECREATIONAL RESOURCES THROUGHOUT WESTERN PENNSYLVANIA, INCLUDING THE EIGHT COUNTIES THAT COMPRISE THE RIVERS OF STEEL NATIONAL HERITAGE AREA. THE DYNAMIC AND POWERFUL STORY OF THE REGION'S EVOLUTION FROM COLONIAL SETTLEMENT TO "BIG STEEL" TO THE MODERN ERA IS EVIDENT IN ITS MANY ARTIFACTS, BUILDINGS, VIBRANT COMMUNITIES AND INDUSTRIAL SITES. AMONG OTHER DESTINATIONS, SUCH CORE LANDMARKS AS THE CARRIE BLAST FURNACES NOS. 6 AND 7, PINKERTON'S LANDING, THE PUMP HOUSE AND WATER TOWER AT THE SITE OF THE FORMER UNITED STATES STEEL HOMESTEAD WORKS, AND THE W. A. YOUNG FOUNDRY AND MACHINE SHOP AT RICES LANDING ON THE MONONGAHELA RIVER, ILLUSTRATE THE MAGNITUDE OF THIS STORY.

Program Service Accomplishments

Program 1

Expenses: $427,319 Revenue: $205,958

EXPLORER - THROUGH ROS PGH-101 AN INTRO TO INNOVATION TOUR PROGRAM, EXPLORER PROVIDES TOURISM DEVELOPMENT OF HISTORIC SITES AND ATTRACTIONS ALONG PITTSBURGH'S THREE RIVERS. THE EXPLORER PROGRAM WORKS WITH SCHOOL DISTRICTS IN OUR HERITAGE AREA TO FACILITATE INCREASED AWARENESS OF STEM EDUCATION CLASSES AVAILABLE ON THE EXPLORER IN SOUTHWESTERN PENNSYLVANIA. IT ALSO PROVIDES CHARTER SERVICES TO LOCAL GOVERNMENT, FOUNDATIONS, AND CORPORATIONS AS WELL AS INDIVIDUAL GROUPS.

Program 2

Expenses: $831,311 Revenue: $248,141

CARRIE FURNACE - DECLARED A NATIONAL HISTORIC LANDMARK IN 2006, RIVERS OF STEEL CONTINUES ITS ONGOING RESTORATION WORK ON THE CARRIE SITE TODAY. THROUGH LOCAL TOUR GUIDES, VISITORS MARVEL AT THE...

CARRIE FURNACE - DECLARED A NATIONAL HISTORIC LANDMARK IN 2006, RIVERS OF STEEL CONTINUES ITS ONGOING RESTORATION WORK ON THE CARRIE SITE TODAY. THROUGH LOCAL TOUR GUIDES, VISITORS MARVEL AT THE SCALE AND LEGACY OF ITS INDUSTRIAL MIGHT AS 125 YEARS OF BIG STEEL COMES ALIVE ON TOURS. THESE TOURS SHOW HOW THE STEEL INDUSTRY PLAYED A MAJOR ROLE IN SHAPING NOT ONLY THE ECONOMY, BUT ALSO THE CULTURE AND ENVIRONMENT OF THE MON-VALLEY COMMUNITIES.

Program 3

Expenses: $515,865 Revenue: $67,316

ROS ARTS - THE ARTS PROGRAM CELEBRATES CREATIVE INQUIRY BY CRAFTING OPPORTUNITIES TO INTERPRET THE REGION'S PAST, REIMAGINE ITS FUTURE, AND EXPLORE A SENSE OF PLACE. THROUGH EXHIBITIONS, FESTIVALS...

ROS ARTS - THE ARTS PROGRAM CELEBRATES CREATIVE INQUIRY BY CRAFTING OPPORTUNITIES TO INTERPRET THE REGION'S PAST, REIMAGINE ITS FUTURE, AND EXPLORE A SENSE OF PLACE. THROUGH EXHIBITIONS, FESTIVALS, WORKSHOPS, TOURS AND HAPPENINGS, RIVERS OF STEEL ARTS HELPS INDIVIDUALS CONNECT WITH THEIR COMMUNITIES IN MEANINGFUL WAYS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $10,360,286

Program Service Revenue $504,816

Investment Income $57,680

Other Revenue $200,900

TOTAL REVENUE $11,123,682

Expense Breakdown

Grants Paid $107,419

Salaries & Benefits $2,480,326

Fundraising Expenses $383,457

Program Expenses $2,809,398

Other Expenses $1,752,611

TOTAL EXPENSES $4,340,356

Year-over-Year Comparison

	2025	2024	Change
Revenue	$11,123,682	$6,553,035	+0.7%
Expenses	$4,340,356	$3,956,436	+0.1%
Net Income	$6,783,326	$2,596,599	+1.6%

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

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

$397,815

Total Directors

$286,172

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ART TINTORI	DIRECTOR	1.00	Director	$0	$0	$0
AUGUST R CARLINO	PRESIDENT & CEO (THRU 3/25)	40.00	Officer Director	$116,393	$7,761	$124,154
CHUCK DURITSA	DIRECTOR	1.00	Director	$0	$0	$0
DANA SCARPINO	DIRECTOR	1.00	Director	$0	$0	$0
DANIEL GALLAGHER JR	DIRECTOR	1.00	Director	$0	$0	$0
DEAN CALLAND	DIRECTOR	1.00	Director	$0	$0	$0
DR BRENDA FREDETTE	DIRECTOR	1.00	Director	$0	$0	$0
DR LUTITIA CLIPPER	DIRECTOR	1.00	Director	$0	$0	$0
ELLEN KIGHT	VICE CHAIR	1.00	Officer Director	$0	$0	$0
FRANK REED	DIRECTOR	1.00	Director	$0	$0	$0
HEATHER THOMAS	TREASURER	1.00	Director	$0	$0	$0
JOHN BROOKS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN MICHAUD	DIRECTOR	1.00	Director	$0	$0	$0
KADY DURKO	DIRECTOR	1.00	Director	$0	$0	$0
LAURA GOOSSEN	DIRECTOR	1.00	Director	$0	$0	$0
MARION MALUS	SECRETARY	1.00	Officer Director	$0	$0	$0
PETER SLOAN	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD C WALLACE	CHAIR	1.00	Officer Director	$0	$0	$0
SHAWN ALFONSO WELLS	DIRECTOR	1.00	Director	$0	$0	$0
MATEO VILLA	DIRECTOR	1.00	Director	$0	$0	$0
BILL FLANAGAN	DIRECTOR	1.00	Director	$0	$0	$0
CARMELLE NICKENS	DIRECTOR	1.00	Director	$0	$0	$0
MARY W MURRIN	PRESIDENT & CEO	40.00	Officer Director	$150,125	$11,893	$162,018
BROOKS ROBINSON JR	DIRECTOR	1.00	Director	$0	$0	$0
LISA KELLEY	CONTROLLER	40.00	Officer	$82,717	$28,926	$111,643

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
2025	$11,123,682	$4,340,356	$20,200,585	$6,783,326
2024	$6,553,035	$3,956,436	$12,528,020	$2,596,599
2023	$6,444,583	$3,390,695	$10,324,976	$3,053,888
2022	$3,468,810	$3,431,654	$6,879,397	$37,156
2021	$3,246,436	$2,724,800	$7,147,653	$521,636
2020	$2,016,584	$2,348,805	$6,978,664	$-332,221
2019	$1,708,518	$2,793,921	$7,239,080	$-1,085,403
2018	$2,374,697	$2,616,779	$7,474,435	$-242,082

RIVERS OF STEEL HERITAGE CORPORATION