NEW CASTLE HISTORICAL SOCIETY

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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

1934

Legal Domicile

Principal Officer

MICHAEL CONNOLLY

Phone

3023222794

Tax Period

2023-01-01 to 2023-12-31

NEW CASTLE HISTORICAL SOCIETY, founded in 1934, is a small nonprofit that reported $259K in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $321K exceeded revenue, resulting in a 24% operating deficit.

Mission

PRESERVE AND PROMOTE THE HISTORY OF NEW CASTLE, DELAWARE. TO PRESERVE AND ENTHUSIASTICALLY PROMOTE AWARENESS OF OUR NEW CASTLE HISTORY AND TREASURES TO ITS MEMBERS, CITIZENS, AND VISITORS; AND TO SUPPORT THE PRESERVATION OF HISTORICAL RESOURCES.

Program Service Accomplishments

Program 1

Expenses: $264,056 Revenue: $12,417

NEW CASTLE HISTORICAL SOCIETY OPERATES FOUR HISTORY MUSEUMS-THE AMSTEL HOUSE, THE DUTCH HOUSE, THE OLD LIBRARY MUSEUM, AND THE ARSENAL. THE MUSEUMS ARE OPEN TO THE PUBLIC THROUGHOUT THE YEAR. THE...

NEW CASTLE HISTORICAL SOCIETY OPERATES FOUR HISTORY MUSEUMS-THE AMSTEL HOUSE, THE DUTCH HOUSE, THE OLD LIBRARY MUSEUM, AND THE ARSENAL. THE MUSEUMS ARE OPEN TO THE PUBLIC THROUGHOUT THE YEAR. THE MUSEUMS OFFER SPECIAL TOURS FOR ELEMENTARY, HIGH SCHOOL, AND COLLEGE STUDENTS. THE SOCIETY ALSO EDUCATES THE PUBLIC ABOUT THE HISTORY OF NEW CASTLE THROUGH EXHIBITS, PROGRAMS, CONCERTS, LECTURES, AND PUBLICATIONS. OUR COLLECTIONS AND ARCHIVES ARE AVAILABLE TO RESEARCHERS INTERESTED IN DEVELOPING A DEEPER UNDERSTANDING OF NEW CASTLE'S RICH HERITAGE. THE NEW CASTLE HISTORICAL SOCIETY PROMOTES HISTORICAL AWARENESS AND ENCOURAGES THE PRESERVATION OF HISTORICAL ARCHITECTURE, ARCHAELOGICAL RESOURCES, AND THE MATERIAL CULTURE OF NEW CASTLE, DELAWARE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $136,782

Program Service Revenue $12,694

Investment Income $62,988

Other Revenue $46,350

TOTAL REVENUE $258,814

Expense Breakdown

Grants Paid $0

Salaries & Benefits $140,334

Fundraising Expenses $6,148

Program Expenses $264,056

Other Expenses $181,019

TOTAL EXPENSES $321,353

Year-over-Year Comparison

	2023	2022	Change
Revenue	$258,814	$225,139	+0.1%
Expenses	$321,353	$328,170	0.0%
Net Income	$-62,539	$-103,031	-0.4%

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

$57,346

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK BATTY	PRESIDENT	2.00	Officer Director	$0	$0	$0
KAITLYN LAROVA	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
LAURA L FONTANA	TREASURER	2.00	Officer Director	$0	$0	$0
CATHERINE MORRISSEY	SECRETARY	2.00	Officer Director	$0	$0	$0
HEIDI BENSON	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRIS J CASHMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN P GARNIEWSKI JR	BOARD MEMBER	1.00	Director	$0	$0	$0
DWAYNE FOSTER	BOARD MEMBER	1.00	Director	$0	$0	$0
PORSHA GREEN	BOARD MEMBER	1.00	Director	$0	$0	$0
DAWN KACKLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
HENRY E NICKLE	BOARD MEMBER	1.00	Director	$0	$0	$0
PHEE PRICE	BOARD MEMBER	1.00	Director	$0	$0	$0
KATHY WARNER	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES A WHISMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
DAWN KACKLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL CONNOLLY	EXCECUTIVE D	40.00	Officer	$57,346	$0	$57,346

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	No data	No data	No data	No data
2023	$258,814	$321,353	$1,426,055	$-62,539
2022	$225,139	$328,170	$1,466,183	$-103,031
2021	$271,481	$332,507	$1,719,358	$-61,026
2020	$232,584	$241,145	$1,686,975	$-8,561
2019	$335,061	$316,580	$1,623,107	$18,481
2018	$227,628	$322,786	$1,502,808	$-95,158