Packard Museum Association

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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

1989

Legal Domicile

Principal Officer

Mary Ann Porinchak

Phone

3303941899

Tax Period

2024-01-01 to 2024-12-31

Packard Museum Association, founded in 1989, is a small nonprofit in the Arts, Culture & Humanities sector that reported $219K in total revenue in fiscal year 2024. Revenue fell 29% from the prior year — a significant decline worth monitoring. Expenses of $251K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO OPERATE A MUSEUM AVAILABLE TO THE PUBLIC THAT PRESERVES THE HISTORY ASSOCIATED WITH THE PACKARD FAMILY, PACKARD ELECTRIC AND THE PACKARD MOTOR CAR COMPANY VIA INTERPRETIVE EXHIBITS, HISTORICAL PROGRAMS, CAR SHOWS AND SPECIAL EVENTS.

Program Service Accomplishments

Program 1

Expenses: $225,812

TO PRESERVE THE HISTORY ASSOCIATED WITH THE PACKARD FAMILY, PACKARD ELECTRIC, PACKARD MOTOR CAR COMPANY AND THE INDUSTRIAL HERITAGE OF THE WARREN AREA BY ACCUMULATING AND INTERPRETING ARTIFACTS...

TO PRESERVE THE HISTORY ASSOCIATED WITH THE PACKARD FAMILY, PACKARD ELECTRIC, PACKARD MOTOR CAR COMPANY AND THE INDUSTRIAL HERITAGE OF THE WARREN AREA BY ACCUMULATING AND INTERPRETING ARTIFACTS, ARTICLES, AUTOMOBILES, AND OTHER INFORMATION. SPECIAL EVENTS AND MONTHY EDUCATIONAL PROGRAMS ARE PRESENTED THROUGHOUT THE YEAR INCLUDING AN ANNUAL CAR SHOW AND MOTORCYCLE EXHIBIT DESIGNED TO EDUCATE CURRENT AND FUTURE GENERATIONS ABOUT THE PACKARD LEGACY. IN 2024 THE MUSEUM RECEIVED THE ORIGINAL COLLECTION OF DOCUMENTS, IMAGES, PHOTO ALBUMS AND SCRAP BOOKS FROM THE 1903 TRANSCONTINENTAL RUN FROM SAN FRANCISCO TO NEW YORK BY TOM FETCH WHICH WILL BE USED TO FURTHER ILLUSTRATE THIS IMPORTANT EVENT.THE MUSEUM ALSO RECEIVED AN ASSORTMENT OF PACKARD MOTOR CAR COMPANY ORIGINAL ADVERTISEMENTS, PROMOTIONAL PHOTOS AND LITERATURE THAT WILL AID IN TELLING THE PACKARD STORY. THE MUSEUM OFFERS REGULAR OPERATING HOURS FOR ANYONE TO VISIT AND ALSO GUIDED TOURS. DURING 2024 MORE THAN 11,000 GUESTS VISITED THE MUSEUM AND MUSEUM EVENTS.

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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 $118,906

Program Service Revenue $53,849

Investment Income $13,014

Other Revenue $33,039

TOTAL REVENUE $218,808

Expense Breakdown

Grants Paid $0

Salaries & Benefits $119,020

Fundraising Expenses $0

Program Expenses $225,812

Other Expenses $132,297

TOTAL EXPENSES $251,317

Year-over-Year Comparison

	2024	2023	Change
Revenue	$218,808	$306,087	-0.3%
Expenses	$251,317	$229,636	+0.1%
Net Income	$-32,509	$76,451	-1.4%

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

$78,172

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mary Ann Porinchak	Executive Dir	40.00	Officer	$61,205	$0	$61,205
Charles Ohlin	DIR ED/RESEARCH	25.00	Officer	$16,967	$0	$16,967
Scott Andrews	Vice President	2.00	Officer Director	$0	$0	$0
William Dennis Jr	President	2.00	Officer Director	$0	$0	$0
William P Griffin	Vice President	2.00	Officer Director	$0	$0	$0
Sarah Buzulencia	Secretary	2.00	Officer Director	$0	$0	$0
Larry Beardsley	Treasurer	2.00	Officer Director	$0	$0	$0
Jim Lacozilli	Board Member	1.00	Director	$0	$0	$0
Glenn Stevens	Board Member	1.00	Director	$0	$0	$0
Ryan Martino	Board Member	1.00	Director	$0	$0	$0
Theodore Bunnell	Board Member	1.00	Director	$0	$0	$0
Rebecca McCleery	Board Member	1.00	Director	$0	$0	$0
Judy Watson	Board Member	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	$218,808	$251,317	$620,486	$-32,509
2023	$306,087	$229,636	$652,752	$76,451
2022	$183,073	$231,510	$577,749	$-48,437
2021	$252,062	$185,594	$625,539	$66,468
2020	$231,213	$171,185	$581,558	$60,028
2019	$193,873	$205,773	$498,637	$-11,900
2018	$151,917	$211,951	$510,846	$-60,034