JOLIET AREA HISTORICAL MUSEUM

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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

1999

Legal Domicile

Principal Officer

QUINN ADAMOWSKI

Phone

8157235201

Tax Period

2024-07-01 to 2025-06-30

JOLIET AREA HISTORICAL MUSEUM, founded in 1999, is a community nonprofit in the Arts, Culture & Humanities sector that reported $5.5M in total revenue in fiscal year 2024. The organization ran a surplus of $3.7M, a strong 68% operating margin.

Mission

PROMOTE AWARENESS OF AND APPRECIATION FOR THE AREA'S HISTORY AND DIVERSE CULTURE, AND ENCOURAGE PEOPLE OF ALL AGES TO DISCOVER, UNDERSTAND AND CELEBRATE THE AREA'S HERITAGE AND BOUNDLESS FUTURE.

Program Service Accomplishments

Program 1

Expenses: $915,440 Revenue: $73,977

THE MUSEUM CONTINUES TO ACHIEVE AND GROW IN LOCAL AND INTERNATIONAL AWARENESS. THE MUSEUM CONTINUES TO ENCOURAGE PEOPLE OF ALL AGES TO DISCOVER, UNDERSTAND AND CELEBRATE THE AREA'S HERITAGE AND...

THE MUSEUM CONTINUES TO ACHIEVE AND GROW IN LOCAL AND INTERNATIONAL AWARENESS. THE MUSEUM CONTINUES TO ENCOURAGE PEOPLE OF ALL AGES TO DISCOVER, UNDERSTAND AND CELEBRATE THE AREA'S HERITAGE AND BOUNDLESS FUTURE.

Program 2

Expenses: $386,934 Revenue: $591,436

THE OLD JOLIET PRISON PROJECT INVOLVED THE MUSEUM TAKING DAY-TO-DAY RESPONSIBILITY FOR TOURS AT THE FORMER ILLINOIS STATE PENITENTIARY SITE AFTER YEARS OF ASSESSING FEASIBILITY AND DETERMINING GREAT PUBLIC INTEREST IN THE HISTORIC SITE. THESE TOURS HAVE OFFERED A NEW AND VIBRANT REVENUE STREAM TO UNDERWRITE ORGANIZATIONAL OPERATIONS. THE MUSEUM HAS ALSO COMMITTED TO HOLDING OCCASSIONAL SPECIAL EVENTS TO RAISE FUNDS SPECIFICALLY TO BE USED TO SECURE AND STABILIZE THE PROPERTY AS TO FURTHER MONETIZE IT. THE MUSEUM EXECUTED A MEMORANDUM OF UNDERSTANDING WITH THE CITY OF JOLIET, WHO ACTS AS AN UNENCUMBERED LESSEE AT THE SITE, OWNED BY THE STATE OF ILLINOIS, WHICH OUTLINES SPECIFIC ROLES AND RESPONSIBILIES.

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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 $5,002,597

Program Service Revenue $90,988

Investment Income $28,609

Other Revenue $400,014

TOTAL REVENUE $5,522,208

Expense Breakdown

Grants Paid $0

Salaries & Benefits $896,005

Fundraising Expenses $181,255

Program Expenses $1,302,374

Other Expenses $883,158

TOTAL EXPENSES $1,779,163

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,522,208	$-74,772	-74.9%
Expenses	$1,779,163	$1,456,763	+0.2%
Net Income	$3,743,045	$-1,531,535	-3.4%

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

N/A

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
DON GOVONI	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
QUINN ADAMOWSKI	PRESIDENT	2.00	Officer Director	$0	$0	$0
DALE EVANS	TREASURER	2.00	Officer Director	$0	$0	$0
HUDSON HOLLISTER	SECRETARY	2.00	Officer Director	$0	$0	$0
DAVID GOMEZ	BOARD MEMBER	1.00	Director	$0	$0	$0
KEVIN HEGARTY	BOARD MEMBER	1.00	Director	$0	$0	$0
LAURA DALEY	BOARD MEMBER	2.00	Director	$0	$0	$0
HUGH O'HARA	BOARD MEMBER	2.00	Director	$0	$0	$0
NICK MACRIS	BOARD MEMBER	4.00	Director	$0	$0	$0
ROBERT DIEDRICH	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT NAVARRO	BOARD MEMBER	2.00	Director	$0	$0	$0
GLORIA DOLLINGER	BOARD MEMBER	2.00	Director	$0	$0	$0
JAYNE BERNHARD	BOARD MEMBER	2.00	Director	$0	$0	$0
DENNIS PLATIPODIS	BOARD MEMBER	1.00	Director	$0	$0	$0
NANCY CABALLERO	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRISTOPHER PARKER	BOARD MEMBER	2.00	Director	$0	$0	$0
CESAR GUERRERO	DIRECTOR EMERITUS	0.00	Director	$0	$0	$0
BEN DIETZ	DIRECTOR EMERITUS	0.00	Director	$0	$0	$0
GREGORY PEERBOLTE	EXECUTIVE DIRECTOR	40.00	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
2025	$5,522,208	$1,779,163	$8,036,438	$3,743,045
2024	$5,268,611	$1,532,797	$6,205,500	$3,735,814
2023	$2,043,312	$1,446,092	$1,516,329	$597,220
2022	$1,152,214	$1,142,494	$1,772,872	$9,720
2021	$538,160	$735,401	$2,480,521	$-197,241
2020	$508,434	$861,467	$3,391,626	$-353,033
2019	$750,390	$745,465	$1,086,499	$4,925
2018	$562,403	$584,487	$1,113,655	$-22,084