QUILCENE HISTORICAL MUSEUM

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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

1991

Legal Domicile

Principal Officer

CHRISTINE SATTERLEE

Phone

3607653420

Tax Period

2023-01-01 to 2023-12-31

QUILCENE HISTORICAL MUSEUM, founded in 1991, is a small nonprofit in the Arts, Culture & Humanities sector that reported $369K in total revenue in fiscal year 2023. Revenue surged 64% from the prior year, signaling strong growth momentum. The organization ran a surplus of $163K, a strong 44% operating margin.

Mission

TO PRESERVE, DISPLAY AND EXPLAIN THE HISTORY OF THE QUILCENE AREA.

Program Service Accomplishments

Program 1

Expenses: $124,643

THE QUILCENE HISTORICAL MUSEUM WAS FORMED AND EXISTS TO PRESERVE THE PAST HISTORY OF THE LOCAL AREA FOR FUTURE GENERATIONS.

Program 2

In 2013 the Museum completed its purchase of the Worthington House and Grounds, an historic house situated on nearly ten acres of riverfront property adjacent to the Museum. Built from 1891-1892, the residence was originally a spectacular 17-room, 3 story mansard-style Victorian mansion built by Millard Fillmore Hamilton, who came to Quilcene in the 1880s. He lost the home in the economic depression of the 1890s. It was purchased by WJ Worthington in 1907 and remained in the family until the Museum purchased it in 2013.The Museum intends to renovate the structure and the grounds over a period of time. An Historic Structures Review has been completed and certain other planning has been initiated.Funds for the purchase were raised through a capital campaign which was oversubscribed. The amount of the purchase was $268,388.Further, local tradespeople and volunteers have given freely of their skills and services. The cost of renovations to the building has been booked to Construction in Progress which at year end stood at $1,995,100.

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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 $337,495

Program Service Revenue $0

Investment Income $149

Other Revenue $30,932

TOTAL REVENUE $368,576

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $80,232

Program Expenses $124,643

Other Expenses $205,378

TOTAL EXPENSES $205,378

Year-over-Year Comparison

	2023	2022	Change
Revenue	$368,576	$224,929	+0.6%
Expenses	$205,378	$179,787	+0.1%
Net Income	$163,198	$45,142	+2.6%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLEONE TELLING	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CHRISTINE SATTERLEE	CHAIR	1.00	Officer Director	$0	$0	$0
KEVIN WOOLEY	Treasurer	1.00	Officer Director	$0	$0	$0
LARRY MCKEEHAN	Secretary	1.00	Officer Director	$0	$0	$0
JEFF CHILDS	Director	1.00	Director	$0	$0	$0
CAROL CHRISTIANSEN	Director	1.00	Director	$0	$0	$0
BRIAN CULLIN	Director	1.00	Director	$0	$0	$0
RUTH DUNHAM	Director	1.00	Director	$0	$0	$0
DAN GATCHET	Director	1.00	Director	$0	$0	$0
TALIA MUNN	Director	1.00	Director	$0	$0	$0
MARI PHILLIPS	Director	1.00	Director	$0	$0	$0
DAVID SATTERLEE	Director	1.00	Director	$0	$0	$0
CARL SMITH	Director	1.00	Director	$0	$0	$0
TIM VAN BERKOM	Director	1.00	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
2024	No data	No data	No data	No data
2023	$368,576	$205,378	$2,589,389	$163,198
2021	$186,668	$70,813	$2,349,013	$115,855
2020	$246,700	$60,473	$2,157,347	$186,227
2019	$125,722	$73,978	$1,925,608	$51,744
2018	$93,623	$51,509	$1,831,432	$42,114
2018	$93,623	$51,509	$1,831,432	$42,114