GARRETT COUNTY HISTORICAL SOCIETY … - Form 990 Financial Data

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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

1946

Legal Domicile

Principal Officer

ROBERT E BOAL

Phone

3013343226

Tax Period

2023-01-01 to 2023-12-31

GARRETT COUNTY HISTORICAL SOCIETY INC, founded in 1946, is a small nonprofit that reported $121K in total revenue in fiscal year 2023. Revenue decreased 15% compared to the prior year. Expenses of $153K exceeded revenue, resulting in a 26% operating deficit.

Mission

SECURE, PRESERVE,DISSEMINATE THE HISTORY OF GARRETT COUNTY & PEOPLE THROUGH MUSEUM OPERATIONS AND OTHER CULTURAL ACTIVITIES

Program Service Accomplishments

Program 1

Expenses: $6,527

PUBLISHES "GLADE STAR" 4 TIMES PER YEAR WHICH IS MAILED FREE OF CHARGE TO APPROXIMATELY 500 MEMBERS

Program 2

Expenses: $130,088

MAINTAINS AND OPERATES THE GARRETT COUNTY HISTORICAL MUSEUM. IN 2023 OVER 12,000 PEOPLE TOURED THE MUSEUM INCLUDING VARIOUS SCHOOL GROUPS - WHICH WAS MUCH MORE LIKE NORMAL THAN PREVIOUS YEARS DUE TO...

Program 3

SPECIAL TOURS WERE HELD IN PRIOR YEARS FOR TEACHERS FROM MARYLAND COUNTIES AND FOREST RANGERS FROM ALL OVER THE STATE OF MARYLAND

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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 $132,593

Program Service Revenue $0

Investment Income $2,376

Other Revenue $-13,676

TOTAL REVENUE $121,293

Expense Breakdown

Grants Paid $0

Salaries & Benefits $28,907

Fundraising Expenses $6,154

Program Expenses $136,615

Other Expenses $124,511

TOTAL EXPENSES $153,418

Year-over-Year Comparison

	2023	2022	Change
Revenue	$121,293	$143,371	-0.2%
Expenses	$153,418	$121,882	+0.3%
Net Income	$-32,125	$21,489	-2.5%

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

N/A

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

$11,033

Total Directors

$24,353

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES ASHBY	PRESIDENT	0.00	Officer Director	$0	$0	$0
GARY GALLOWAY	DIRECTOR	0.00	Officer Director	$0	$0	$0
DIANA HETRICK	TREASURER	2.00	Officer Director	$3,233	$0	$3,233
RICHARD CROPP	DIRECTOR	0.00	Director	$0	$0	$0
MARTHA DEBERRY	CORRESPONDING SECRETARY	10.00	Officer Director	$7,800	$0	$7,800
JEAN COONLEY	DIRECTOR	0.00	Director	$0	$0	$0
KAREN WHITE	CURATOR	11.00	Director	$13,320	$0	$13,320
ROBERT BOAL	DIRECTOR	0.00	Officer Director	$0	$0	$0
CLIFFORD DEWITT	DIRECTOR	0.00	Director	$0	$0	$0
DICK POTTS	VICE PRESIDENT	0.00	Director	$0	$0	$0
TERRY HELBIG	DIRECTOR	0.00	Director	$0	$0	$0
TERRI SHAFFER	DIRECTOR	0.00	Director	$0	$0	$0
DONALD CALLIS	DIRECTOR	0.00	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	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$121,293	$153,418	$1,521,444	$-32,125
2022	$143,371	$121,882	$1,552,433	$21,489
2021	$76,560	$112,418	$1,531,592	$-35,858
2020	$60,541	$104,415	$1,553,606	$-43,874

GARRETT COUNTY HISTORICAL SOCIETY INC