SKAGIT COUNTY HISTORICAL SOCIETY

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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

1962

Legal Domicile

Principal Officer

PEGGY STOWE

Phone

3604663365

Tax Period

2024-01-01 to 2024-12-31

SKAGIT COUNTY HISTORICAL SOCIETY, founded in 1962, is a small nonprofit in the Arts, Culture & Humanities sector that reported $410K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Net assets of $1.2M represent 36 months of operating reserves.

Mission

TO IDENTIFY, COLLECT, DOCUMENT AND PRESERVE OBJECTS OF RELEVANCY AND TO PROVIDE INFORMATION REFLECTING THE UNIQUE CULTURAL HISTORY OF SKAGIT COUNTY, WASHINGTON.

Program Service Accomplishments

Program 1

Expenses: $175,827

CONCENTRATED EFFORTS ON INVENTORYING AND LABELING 3-D ITEMS ON DISPLAY AND IN STORAGE, UPLOADING ITEM DETAILS INTO COLLECTION DATABASE. WORKED WITH VOLUNTEERS TO RE-HOUSE ARTIFACTS INTO ARCHIVAL...

CONCENTRATED EFFORTS ON INVENTORYING AND LABELING 3-D ITEMS ON DISPLAY AND IN STORAGE, UPLOADING ITEM DETAILS INTO COLLECTION DATABASE. WORKED WITH VOLUNTEERS TO RE-HOUSE ARTIFACTS INTO ARCHIVAL BOXES. CONINUED 2-D FOCUS ON SCANNING AND DOCUMENTING PHOTOGRAPHS INTO DATABASE, REHOUSING AND INVENTORYING NEWSPAPER COLLECTION. CONTINUED IDENTIFYING ITEMS THAT DO NOT MATCH OUR COLLECTIONS CRITERIA AND PREPARING FOR DE-ASSESSIONING.

Program 2

Expenses: $21,978

INSTALLED A NEW FIRE DETECTION SYSTEM IN THE MUSEUM TO BETTER PROTECT THE COLLECTION AND EXHIBITS.

Program 3

Expenses: $153,849 Revenue: $10,583

CREATED THREE ORIGINAL EXHIBITS IN OUR MAIN GALLERY: "SIGNS, SIGNS, EVERYWHERE SIGNS: THE ART OF BOB MORTENSON", WICK PETH, THE ORIGINAL RODEO BULLFIGHTER AND THE HISTORY OF RODEO IN SKAGIT COUNTY", AND "LAURIE WELLS, A SKAGIT ORIGINAL". CREATED FOUR ORIGINAL EXHIBITS FOR OUR SMALLER ROTATING GALLERY AND STRENGTHENED PROGRAMMING AND COMMUNITY PARTNERSHIPS FOR THE PUBLIC HISTORY DAY AT NORTHEN STATE HOSPITAL. SERVED 790 SCHOOL AGE YOUTH AND THEIR CHAPERONES AT MUSEUM AND SKAGIT CITY SCHOOL PROGRAMMING. PROVIDED FOCUSED PUBLIC LECTURES ON HISTORICAL THEMES FROM THE VALLEY.

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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 $344,946

Program Service Revenue $10,128

Investment Income $40,524

Other Revenue $14,732

TOTAL REVENUE $410,330

Expense Breakdown

Grants Paid $0

Salaries & Benefits $270,768

Fundraising Expenses $8,076

Program Expenses $351,654

Other Expenses $178,498

TOTAL EXPENSES $449,266

Year-over-Year Comparison

	2024	2023	Change
Revenue	$410,330	$349,314	+0.2%
Expenses	$449,266	$428,319	+0.0%
Net Income	$-38,936	$-79,005	-0.5%

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

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

$62,353

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PEGGY STOWE	PRESIDENT	5.00	Officer Director	$0	$0	$0
TAMI MASON	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
LIZ XAVER STEWART	SECRETARY	5.00	Officer Director	$0	$0	$0
LESLIE EASTWOOD	TREASURER	5.00	Officer Director	$0	$0	$0
JOHN HOVEY	DIRECTOR	2.00	Director	$0	$0	$0
TIM LOVING	DIRECTOR	2.00	Director	$0	$0	$0
PATRICIA PAUL JD	DIRECTOR	2.00	Director	$0	$0	$0
JOHN KAMB	DIRECTOR	2.00	Director	$0	$0	$0
ROCIO LOPEZ	DIRECTOR	2.00	Director	$0	$0	$0
DAVE GRANSTROM	DIRECTOR	2.00	Director	$0	$0	$0
MARTIN HOWARD	DIRECTOR	2.00	Director	$0	$0	$0
JESSICA ELLIS	DIRECTOR	2.00	Director	$0	$0	$0
ADAM SOWARDS	DIRECTOR	2.00	Director	$0	$0	$0
GERMAINE KORNEGAY	DIRECTOR	2.00	Director	$0	$0	$0
JO WOLFE	EXECUTIVE DIRECTOR	40.00	Officer	$62,353	$0	$62,353

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	$410,330	$449,266	$1,224,053	$-38,936
2023	$349,314	$428,319	$1,258,224	$-79,005
2022	$385,513	$357,751	$1,305,138	$27,762
2021	$368,984	$292,309	$1,350,141	$76,675
2020	$306,927	$273,589	$1,268,398	$33,338
2019	$413,835	$334,234	$1,334,425	$79,601
2018	$246,068	$343,366	$1,256,919	$-97,298