Worcester Historical Museum
- Assets
- $19.6m
- Revenue
- $1.3m
- Investments
- $9.9m
- Employees
- 20
- Location
- Worcester, MA
- Founding
- 06/1944
- Data as of
- 06/2021
- EIN
- 04-2105858
Organization Overview
Worcester Historical Museum is located in Worcester, MA. The organization was established in 1944. According to its NTEE Classification (A54) the organization is classified as: History Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Worcester Historical Museum employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Worcester Historical Museum is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Worcester Historical Museum generated $1.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $1.6m during the year ending 06/2021. While expenses have increased by 4.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE APPRECIATION AND KNOWLEDGE OF THE GENERAL PUBLIC IN THE AREA OF LOCAL HISTORICAL WORKS OF ART.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXHIBITS - WHM'S GALLERIES REMAINED CLOSED DUE TO COVID 19 FROM MARCH 13, 2020 TO JULY 1, 2021. DUE TO THIS CLOSURE THERE WERE NO NEW EXHIBITS INSTALLED WITHIN THE REQUESTED TIME PERIOD. PRIOR TO THE PANDEMIC WE WERE PLANNING AN ANNIVERSARY EXHIBIT WITH UNITED WAY OF CENTRAL MA. UPON OUR CLOSURE ON MARCH 13, 2020 THAT EXHIBIT WAS CANCELED. SINCE WE HAD DONE RESEARCH AND SOURCED IMAGES, WE WERE ABLE TO WORK WITH UWCM TO DEVELOP A SMALL EXHIBIT FOR THEIR BUILDING WINDOW. OUR 2021 CALENDAR ALSO INCLUDED AN EXHIBIT ON THE HISTORY OF BASEBALL TO PARTNER WITH THE ARRIVAL OF THE WORCESTER RED SOX. THAT EXHIBIT WAS CHANGED INTO A FILM CALLED "WORCESTER AT BAT AND POSTED ON OUR YOUTUBE CHANNEL FOR ALL TO SEE.
COLLECTIONS - THE MAJORITY OF TIME SPENT DURING THE YEAR WAS FOR RESEARCHING AND ELECTRONICALLY CATALOGING EXISTING WHM COLLECTIONS AND DONATED ITEMS THAT WERE ADDED TO THE WHM COLLECTIONS. THERE WERE NO TOURS GIVEN TO SCHOOL GROUPS AND THE TRAVELING PUBLIC DUE TO THE COVID-19 PANDEMIC.
LIBRARY - THE LIBRARY AND ARCHIVES RECEIVES REQUESTS FOR INFORMATION DURING THE YEAR, THROUGH VISITORS, PHONE CALLS, EMAILS AND CLASS VISITS FROM LOCAL COLLEGES AND UNIVERSITIES. PROJECTS INCLUDE CATALOGING THE LIBARY'S BOOKS AND OTHER FILES, INDEXING NEWS CLIPPINGS, AND MAPPING THE LOCATIONS OF ARCHIVAL MATERIALS.
EDUCATION & SPECIAL PROJECTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Wallace Executive Director | Officer | 50 | $144,585 |
Michael Bafaro Vice President | OfficerTrustee | 2 | $0 |
Gail C Ferreira President | OfficerTrustee | 2 | $0 |
Thomas L Fitzpatrick Secretary | OfficerTrustee | 2 | $0 |
Robert E Paulsen Jr Treasurer | OfficerTrustee | 2 | $0 |
Diane S Giampa Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $17,481 |
| Fundraising events | $70,980 |
| Related organizations | $0 |
| Government grants | $162,280 |
| All other contributions, gifts, grants, and similar amounts not included above | $617,176 |
| Noncash contributions included in lines 1a–1f | $14,610 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $867,917 |
| Total Program Service Revenue | $3,082 |
| Investment income | $223,424 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $250 |
| Net Gain/Loss on Asset Sales | $217,016 |
| Net Income from Fundraising Events | -$33,983 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,623 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,279,524 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $720,370 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $68,983 |
| Payroll taxes | $59,097 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,778 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,453 |
| Fees for services: Other | $83,170 |
| Advertising and promotion | $0 |
| Office expenses | $59,935 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $189,544 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $787 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $209,650 |
| Insurance | $31,304 |
| All other expenses | $3,000 |
| Total functional expenses | $1,622,653 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,036 |
| Savings and temporary cash investments | $313,085 |
| Pledges and grants receivable | $183,743 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,206 |
| Net Land, buildings, and equipment | $2,632,037 |
| Investments—publicly traded securities | $6,345,821 |
| Investments—other securities | $9,908,044 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $147,689 |
| Total assets | $19,635,661 |
| Accounts payable and accrued expenses | $154,401 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $147,059 |
| Other liabilities | $0 |
| Total liabilities | $301,460 |
| Net assets without donor restrictions | $4,593,515 |
| Net assets with donor restrictions | $14,740,686 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $19,635,661 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Worcester Historical Museum has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Paine Charitable Trust Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $500 |
Endowment Analysis
| Beg. Balance | $10,396,975 |
| Earnings | $2,893,246 |
| Other Expense | $548,830 |
| Ending Balance | $12,741,391 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society For The Preservation Of New England Antiquities Inc Boston, MA | $149,018,347 | $24,101,977 |
Museum Of Jewish Heritage A Living Memorial To The Holocaust New York, NY | $55,434,280 | $9,656,219 |
National Baseball Hall Of Fame And Museum Inc Cooperstown, NY | $59,891,798 | $13,912,990 |
Museum Of The City Of New York New York, NY | $66,852,822 | $13,898,529 |
Old Sturbridge Inc Sturbridge, MA | $21,603,377 | $13,063,304 |
Plimoth Patuxet Museums Inc Plymouth, MA | $39,663,068 | $8,933,676 |
Lower East Side Tenement Museum New York, NY | $36,923,048 | $8,687,426 |
Historic Deerfield Inc Deerfield, MA | $76,973,698 | $8,334,092 |
Heritage Plantation Of Sandwich Inc Sandwich, MA | $34,658,032 | $6,604,835 |
Genesee Country Museum Mumford, NY | $24,289,826 | $5,606,616 |
Fenimore Art Museum New York, NY | $63,527,114 | $3,838,046 |
Farmers Museum Inc New York, NY | $82,300,614 | $4,849,865 |