ESSEX HISTORICAL SOCIETY AND SHIPBUILDING MUSEUM INC

EIN: 510185873 501(c)(3) Arts, Culture & Humanities

ESSEX, MA

Total Revenue
$334,918
Total Expenses
$381,405
Total Assets
$1,256,789
Net Assets
$1,242,820
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1937
Legal Domicile
MA
Principal Officer
THOMAS HASTINGS
Phone
9787687541
Tax Period
2024-01-01 to 2024-12-31

ESSEX HISTORICAL SOCIETY AND SHIPBUILDING MUSEUM INC, founded in 1937, is a small nonprofit in the Arts, Culture & Humanities sector that reported $335K in total revenue in fiscal year 2024. Revenue surged 24% from the prior year, signaling strong growth momentum. Expenses of $381K exceeded revenue, resulting in a 14% operating deficit.

Mission

PROVIDE A CENTER FOR EDUCATION, PRESERVATION, AND STUDY OF TRADITIONAL ESSEX SHIPBUILDING AND THE COMMUNITY THAT HAS SUPPORTED IT FOR OVER 300 YEARS. WE VALUE THE SKILLS, CREATIVITY, LEARNING ABILITIES, AND CONNECTEDNESS TO THEIR ENVIRONMENT OF THE ESSEX SHIPBUILDERS AND WE BELIEVE THAT BUILDING A CLEAR UNDERSTANDING AND APPRECIATION OF THEIR UNIQUE CRAFTSMANSHIP SERVES AS A VALUABLE MODEL FOR US TODAY.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $165,929
Program Service Revenue $34,457
Investment Income $45,348
Other Revenue $89,184
TOTAL REVENUE $334,918

Expense Breakdown

Grants Paid $0
Salaries & Benefits $203,881
Fundraising Expenses $12,800
Program Expenses $296,658
Other Expenses $164,724
TOTAL EXPENSES $381,405

Year-over-Year Comparison

2024 2023 Change
Revenue $334,918 $270,432 +0.2%
Expenses $381,405 $295,240 +0.3%
Net Income $-46,487 $-24,808 +0.9%
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

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
10
Employees
8
Volunteers
53

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
4
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
WHITNEY VAN DYKE CLERK/DIRECTOR 1.00
Officer Director
$0 $0 $0
EDWARD WATKINSON TREASURER 1.00
Officer Director
$0 $0 $0
ALISON TAYLOR DIRECTOR 0.50
Director
$0 $0 $0
LOUIS SOMMA PRESIDENT/DIRECTOR 1.00
Officer Director
$0 $0 $0
MICHAEL MCGARTY DIRECTOR 0.50
Director
$0 $0 $0
ERIC WANTA DIRECTOR 0.50
Director
$0 $0 $0
PETER LUNN VICE PRESIDENT/DIRECTOR 1.00
Officer Director
$0 $0 $0
AMY REILLY DIRECTOR 0.50
Director
$0 $0 $0
TOM HASTINGS DIRECTOR 0.50
Director
$0 $0 $0
NICHOLAS GLASS DIRECTOR 0.50
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 $334,918 $381,405 $1,256,789 $-46,487
2023 $270,432 $295,240 $1,274,324 $-24,808
2022 $231,817 $246,423 $1,220,373 $-14,606
2021 $209,981 $231,371 $1,393,396 $-21,390
2020 $217,101 $212,025 $1,411,048 $5,076
2019 $198,799 $259,251 $1,321,346 $-60,452
2018 $146,638 $176,427 $1,297,087 $-29,789
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