Historical Society of Michigan (EIN 381452689) - Form 990 Financial Analysis & Trantor Score

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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

1828

Legal Domicile

Principal Officer

Larry J Wagenaar

Phone

5173241828

Tax Period

2024-07-01 to 2025-06-30

Historical Society of Michigan, founded in 1828, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.4M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $2.1M left a modest 13% surplus.

Mission

To promote the history of Michigan.

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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 $1,223,237

Program Service Revenue $1,093,213

Investment Income $97,964

Other Revenue $17,315

TOTAL REVENUE $2,431,729

Expense Breakdown

Grants Paid $50,569

Salaries & Benefits $1,073,191

Fundraising Expenses $41,546

Program Expenses $1,718,672

Other Expenses $981,102

TOTAL EXPENSES $2,104,862

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,431,729	$1,874,831	+0.3%
Expenses	$2,104,862	$1,944,732	+0.1%
Net Income	$326,867	$-69,901	-5.7%

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

215

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

$165,372

Total Directors

$165,372

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard Wiener	President	2.00	Officer Director	$0	$0	$0
Chuck Stokes	Vice President	2.00	Officer Director	$0	$0	$0
Virginia Paganelli Caruso	Secretary	2.00	Officer Director	$0	$0	$0
Robert VerHeulen	Treasurer	2.00	Officer Director	$0	$0	$0
Karen Batchelor	Trustee	2.00	Director	$0	$0	$0
Carolyn Bloodworth	Trustee	2.00	Director	$0	$0	$0
Steve Brisson	Trustee	2.00	Director	$0	$0	$0
Sharon Carlson	Trustee	2.00	Director	$0	$0	$0
Julie Croll	Trustee	2.00	Director	$0	$0	$0
Connie Dang	Trustee	2.00	Director	$0	$0	$0
Delia Fernandez-Jones	Trustee	2.00	Director	$0	$0	$0
Thomas George	Trustee	2.00	Director	$0	$0	$0
Eric Hemenway	Trustee	2.00	Director	$0	$0	$0
Lindsay Hiltunen	Trustee	2.00	Director	$0	$0	$0
Jamon Jordan	Trustee	2.00	Director	$0	$0	$0
Kimberly Lloyd	Trustee	2.00	Director	$0	$0	$0
Blaire Morseau	Trustee	2.00	Director	$0	$0	$0
Donna Odom	Trustee	2.00	Director	$0	$0	$0
Dianne Schmitigal	Trustee	2.00	Director	$0	$0	$0
Shannon White	Trustee	2.00	Director	$0	$0	$0
Kendall Wingrove	Trustee	2.00	Director	$0	$0	$0
Larry J Wagenaar	Executive Director	40.00	Officer Director	$150,338	$15,034	$165,372
Jenice Mitchell Ford Ended	Trustee	2.00	Director	$0	$0	$0
Maria Elena Rodriguez Ended	Trustee	2.00	Director	$0	$0	$0
David Trebing Ended	Trustee	2.00	Director	$0	$0	$0
Daniel Truckey Ended	Trustee	2.00	Director	$0	$0	$0
Frank Wilhelme Ended	Trustee	2.00	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
2025	$2,431,729	$2,104,862	$4,899,421	$326,867
2024	$1,874,831	$1,944,732	$4,270,408	$-69,901
2023	$2,067,590	$1,907,105	$4,132,032	$160,485
2022	$3,249,891	$1,386,673	$3,893,145	$1,863,218
2021	$1,685,620	$1,181,882	$2,382,768	$503,738
2020	$1,664,694	$1,435,420	$2,060,475	$229,274

Historical Society of Michigan