SPARTANBURG COUNTY HISTORICAL ASSOC

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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

1957

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

SPARTANBURG COUNTY HISTORICAL ASSOC, founded in 1957, is a small nonprofit that reported $744K in total revenue in fiscal year 2023. Revenue surged 246% from the prior year, signaling strong growth momentum. The organization ran a surplus of $409K, a strong 55% operating margin.

Mission

THE MISSION OF THE SPARTANBURG COUNTY HISTORICAL ASSOCIATION IS TO EXPLORE AND PRESERVE OUR REGIONS HISTORY BY COLLECTING AND SHARING THE STORIES AND ARTIFACTS OF THE PEOPLE WHO SHAPED THAT HISTORY.

Program Service Accomplishments

Program 1

Expenses: $277,604 Revenue: $64,232

HISTORICAL SITES: THE ASSOCIATIONS GOAL OF ENGAGING VISITIORS IN UNIQUE LIVING HISTORY PROGRAMS IN THE CITY AND COUNTY OF SPARTANBURG, BY INSPIRING LEARNERS OF ALL AGES TO INVESTIGATE THE HISTORY...

HISTORICAL SITES: THE ASSOCIATIONS GOAL OF ENGAGING VISITIORS IN UNIQUE LIVING HISTORY PROGRAMS IN THE CITY AND COUNTY OF SPARTANBURG, BY INSPIRING LEARNERS OF ALL AGES TO INVESTIGATE THE HISTORY THAT BEGINS IN THEIR OWN BACKYARD, IS ACHIEVED IN PART THROUGH THREE HISTORIC SITES - WALNUT GROVE PLANTATION, PRICE HOUSE, AND SEAY HOUSE. ALL THREE OF THESE LOCATIONS, WHICH ARE SUPPORTED AN DRUN BY THE ASSOCIATION, HOST NUMEROUS COMMUNITY EVENTS AND EDUCATIONAL PROGRAMS FOR THE LOCAL POPULATION. WALNUT GROVE PLANTATION TELLS THE STORIES OF THE FREE AND ENSLAVED PEOPLE WHO SETTLED THE SOUTH CAROLINA BACKCOUNTRY, FOUGHT FOR INDEPENDENCE, AND BUILT A NEW NATION.

Program 2

Expenses: $33,584

REGIONAL HISTORY MUSEUM: THE SPARTANBURG REGIONAL HISTORY MUSEUM HAS PERMANENT EXHIBITS THAT OFFER A WALK THROUGH TIME FROM THE EARLY DAYS OF SPANISH EXPLORERS LIKE JUAN PARDO TO THE LATE 20TH...

REGIONAL HISTORY MUSEUM: THE SPARTANBURG REGIONAL HISTORY MUSEUM HAS PERMANENT EXHIBITS THAT OFFER A WALK THROUGH TIME FROM THE EARLY DAYS OF SPANISH EXPLORERS LIKE JUAN PARDO TO THE LATE 20TH CENTURY. OTHER PERMANENT EXHIBITS FOCUS ON THE BROAD MILITARY HISTORY OF SPARTANBURG COUNTY FROM THE FIGHT FOR AMERICAN INDEPENDENCE TO THE TRAINING CAMPS LOCATED HERE DURING WORLD WARS I & II. THE DECORATIVE ARTS GALLERY SHOWCASES THE MUSEUMS OUTSTANDING COLLECTION OF SPARTANBURG AND PIEDMONT AREA FURNITURE AS WELL AS LOCALLY MADE POTTERY, HAND CRAFTED QUILTS AND SAMPLERS, AND OTHER ARTWORK. FINALLY, THE ROTATING EXHIBIT SPACE CHANGES EVERY TWO TO THRESS MONTHS, SO THERE IS ALWAYS SOMETHING NEW TO SEE WHEN YOU VISIT THE HISTORY MUSEUM.

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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 $570,775

Program Service Revenue $64,232

Investment Income $53,511

Other Revenue $55,325

TOTAL REVENUE $743,843

Expense Breakdown

Grants Paid $0

Salaries & Benefits $131,637

Fundraising Expenses $0

Program Expenses $311,188

Other Expenses $203,631

TOTAL EXPENSES $335,268

Year-over-Year Comparison

	2023	2022	Change
Revenue	$743,843	$214,912	+2.5%
Expenses	$335,268	$246,922	+0.4%
Net Income	$408,575	$-32,010	-13.8%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
JEFF KEMP	BOARD MEMBER	Director	$0	$0	$0
ALAN DECREDICO	BOARD MEMBER	Director	$0	$0	$0
KATHY ZIMMERLI-WOFFORD	BOARD MEMBER	Director	$0	$0	$0
DIANE VECCHIO	BOARD MEMBER	Director	$0	$0	$0
KELLY MOORE	BOARD MEMBER	Director	$0	$0	$0
SAM GALLOWAY	BOARD MEMBER	Director	$0	$0	$0
JESSICA COKER	TREASURER	Officer Director	$0	$0	$0
GINGER DAVIS	PRESIDENT	Officer Director	$0	$0	$0
HARRISON GAGE	SECRETARY	Officer Director	$0	$0	$0
DAVID WOOD	EXECUTIVE DIRECTORCEO	Officer	$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	No data	No data	No data	No data
2023	$743,843	$335,268	$1,297,883	$408,575
2022	$235,746	$338,045	$927,220	$-102,299
2022	$214,912	$246,922	$891,688	$-32,010
2021	$234,923	$342,324	$1,081,720	$-107,401
2020	$222,683	$372,862	$1,103,288	$-150,179
2019	$220,545	$325,290	$1,232,662	$-104,745
2018	$432,997	$437,207	$1,317,978	$-4,210