HISTORIC ANNAPOLIS INC

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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

1952

Legal Domicile

Principal Officer

KAREN BROWN

Phone

4102677619

Tax Period

2024-07-01 to 2025-06-30

HISTORIC ANNAPOLIS INC, founded in 1952, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.7M in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.8M, a strong 63% operating margin.

Mission

WE ARE THE LEADING NONPROFIT PRESERVATION AND HISTORY ORGANIZATION IN ANNAPOLIS, MD. OUR MISSION IS TO PRESERVE AND PROTECT THE HISTORIC PLACES, OBJECTS, AND STORIES OF MARYLAND'S CAPITAL CITY, AND PROVIDE ENGAGING EXPERIENCES THAT CONNECT PEOPLE TO THE AREA'S HERITAGE.

Program Service Accomplishments

Program 1

Expenses: $2,204,846 Revenue: $694,874

FORMED AS A GRASSROOTS ORGANIZATION FOCUSED ON PROTECTING HISTORIC PROPERTIES FROM DEMOLITION, HA PLAYED A CRUCIAL ROLE IN SAVING MORE THAN 200 HISTORIC PROPERTIES IN ANNAPOLIS, WAS INSTRUMENTAL IN SECURING THE COLONIAL ANNAPOLIS HISTORIC DISTRICT'S DESIGNATION AS A NATIONAL HISTORIC LANDMARK DISTRICT, AND CONTINUES TO ADVOCATE FOR PRESERVATION-MINDED DEVELOPMENT WITHIN OUR STATE'S CAPITAL TODAY. HA CARES FOR 13 HISTORIC PROPERTIES, A DOZEN OF WHICH ARE OWNED BY THE STATE OF MARYLAND. WE CONNECT WITH MORE THAN 200,000 NATIONAL AND INTERNATIONAL VISITORS ANNUALLY BY PROVIDING PUBLIC ACCESS TO THESE CULTURAL TREASURES THROUGH HERITAGE TOURISM AND EDUCATIONAL EXPERIENCES INCLUDING TOURS OF HISTORIC HOUSES, SCHOOL PROGRAMS AND FIELD TRIPS, MUSEUM EXHIBITIONS, AND IMMERSIVE LIVING HISTORY EXPERIENCES.

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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 $6,795,855

Program Service Revenue $394,292

Investment Income $131,345

Other Revenue $346,639

TOTAL REVENUE $7,668,131

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,522,896

Fundraising Expenses $141,406

Program Expenses $2,204,846

Other Expenses $1,314,748

TOTAL EXPENSES $2,837,644

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,668,131	$6,127,085	+0.3%
Expenses	$2,837,644	$2,525,980	+0.1%
Net Income	$4,830,487	$3,601,105	+0.3%

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

200

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

$240,750

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES A REID	TRUSTEE	2.00	Director	$0	$0	$0
BERT WINCHESTER	VICE CHAIRMAN	2.00	Officer Director	$0	$0	$0
JAMES O'HARE	CHAIRMAN	2.00	Officer Director	$0	$0	$0
JANE CAMPBELL-CHAMBLISS	TRUSTEE	2.00	Director	$0	$0	$0
GEORGINA FRANYO	TRUSTEE	2.00	Director	$0	$0	$0
MARCIE TAYLOR-THOMA	TRUSTEE	2.00	Director	$0	$0	$0
KATHERINE OSTBERG	TRUSTEE	2.00	Director	$0	$0	$0
ANN COVINGTON	TREASURER	2.00	Officer Director	$0	$0	$0
CARROLL H HYNSON JR	TRUSTEE	2.00	Director	$0	$0	$0
MARGARET DAVIS	TRUSTEE	2.00	Director	$0	$0	$0
DAVID CARROLL	TRUSTEE	2.00	Director	$0	$0	$0
CARLA CRISTE	TRUSTEE	2.00	Director	$0	$0	$0
KATHLEEN ORTEL	TRUSTEE	2.00	Director	$0	$0	$0
TODD PATTISON	TRUSTEE	2.00	Director	$0	$0	$0
SONJA SWYGERT	TRUSTEE	2.00	Director	$0	$0	$0
PAMELA GENTRY	TRUSTEE	2.00	Director	$0	$0	$0
GILDA DANIELS	TRUSTEE	2.00	Director	$0	$0	$0
LARRY BURROWS	SECRETARY	2.00	Officer Director	$0	$0	$0
MACK GILMOR	TRUSTEE	2.00	Director	$0	$0	$0
LUDMILA MIKHAILOVA	VICE-PRESIDENT OF FINANCE	40.00	Officer	$96,846	$3,429	$100,275
KAREN THEIMER BROWN	PRESIDENT & CEO	40.00	Officer	$135,942	$4,533	$140,475

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	$7,668,131	$2,837,644	$26,701,665	$4,830,487
2024	$6,127,085	$2,525,980	$21,808,479	$3,601,105
2023	$5,493,798	$2,367,847	$18,310,622	$3,125,951
2022	$4,263,838	$2,351,882	$14,962,787	$1,911,956
2021	$4,448,937	$2,266,096	$13,527,695	$2,182,841
2020	$4,170,932	$2,398,831	$11,216,187	$1,772,101
2019	$4,063,802	$2,507,272	$9,658,287	$1,556,530
2018	$3,899,031	$2,362,015	$7,794,146	$1,537,016