Historical Society of Michigan

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

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

The Historical Society of Michigan will foster in citizens a deeper understanding of and appreciation for all Michigan history through programs and publications; preserve and promote Michigan history through conferences, publications, awards, educational programs, consulting services and related historical activities; coordinate and further the program of local historical societies and local historians by functioning as a statewide service organization and communication network; cooperate with appropriate individuals on a local, state and national level and/or with organizations and institutions in projects and activities that will promote and sustain interest in history; enhance public support for the preservation and protection of Michigan history.

Program Service Accomplishments

Program 1

Expenses: $774,897 Revenue: $203,737

The Historical Society of Michigan was involved in programs and services reaching various targeted groups involved with Michigan history. HSM conducts numerous training workshops for local historical organizations; provides support to small to medium sized historical entities with a host of services such as website assistance, best practices, and other needs; and provides extensive promotional opportunities to expose local historical programming and resources to a statewide audience.

Program 2

Expenses: $250,514 Revenue: $386,470

The Historical Society of Michigan sponsored program and other activities for teachers of state and local history and their students. Its flagship educational program is Michigan History Day...

The Historical Society of Michigan sponsored program and other activities for teachers of state and local history and their students. Its flagship educational program is Michigan History Day (National History Day in Michigan) in which over 6,000 students participate. The program, which runs from late fall to late spring, develops a wide variety of talents including research and critical thinking skills, literacy, communication and presentation abilities, and more.

Program 3

Expenses: $502,402 Revenue: $460,072

The Historical Society of Michigan provided publications including 2 magazines and a scholarly journal focusing on Michigan history. They include the largest state history magazine in the country...

The Historical Society of Michigan provided publications including 2 magazines and a scholarly journal focusing on Michigan history. They include the largest state history magazine in the country, Michigan History, which has a circulation of 16,000 and over 100,000 readers; the chronicle, a four color member's magazine that features history features, news, calendar of events, and more; and also distributes the Michigan Historical Review, an academic journal focused on Michigan and Great Lakes history. The Historical Society of Michigan occasionally does other publications such as the Historical Michigan Travel Guide, Michigan History Directory, and Michigan History for Kids Curriculum.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

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

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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