Winthrop Improvement And Historical Association
- Assets
- $1.4m
- Revenue
- $44.5k
- Investments
- $347.4k
- Employees
- 0
- Location
- Winthrop, MA
- Founding
- 02/1970
- Data as of
- 12/2022
- EIN
- 04-6054758
Organization Overview
Winthrop Improvement And Historical Association is located in Winthrop, MA. The organization was established in 1970. According to its NTEE Classification (A82) the organization is classified as: Historical Societies & Historic Preservation, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Winthrop Improvement And Historical Association 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 12/2022, Winthrop Improvement And Historical Association generated $44.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $50.9k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WINTHROP IMPROVEMENT AND HISTORICAL ASSOCIATION, ESTABLISHED IN 1908, IS A TAX-EXEMPT 501(C)(3) ORGANIZATION AND WAS FORMED SOLEY TO MAINTAIN THE 1675 DEAN WINTHROP HOUSE ALONG WITH HISTORICAL DOCUMENTS AND ARTIFACTS OF THE TOWN FOR THE BENEFIT OF POSTERITY. THE HOUSE IS LISTED IN THE NATIONAL REGISTRY OF HISTORICAL BUILDINGS. ALL EVENTS AND MOST F THE ACTUAL RESTORATION AND MAINTENANCE ACTIVITIES ARE COMPLETED BY VOLUNTEERS SINCE THE ASSOCIATION DOES NOT HAVE ANY PAID EMPLOYEES OR OFFICERS. LOCAL CONTRACTORS WHO USUALLY CHARGE LESS, DO MINOR REPAIRS. HOWEVER, MAINTENANCE/RESTORING A 340 YEAR OLD HOUSE INCLUDING ITS GROUNDS IS VERY EXPENSIVE AND ALL FUNDS ARE USED TO PRESERVE HISTORICAL DOCUMENTS AND ARTIFACTS RELATED TO THE TOWN. THE ASSOCIATION ADVANCES THE TRADITIONS OF APPRECIATION FOR OUR HISTORY AND CULTURE THROUGH DINNER MEETINGS, HOUSE TOURS, SCHOLARSHIP AWARDS AND SPECIAL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Honan Treasurer | 10 | $0 | |
Christine Reilly Recording Secretary | 10 | $0 | |
Michael Herbert President | 10 | $0 | |
Sandra Joneck-Schiff Past President | 5 | $0 | |
David Hubbard Director Emeritus | 5 | $0 | |
Lauren Mazzuchelli Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $12 |
| Dividends & Interest | $7,303 |
| Net Rental Income | $1,350 |
| Net Gain on Sale of Assets | $7,591 |
| Capital Gain Net Income | $7,591 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $7,439 |
| Other Income | $20,760 |
| Total Revenue | $44,455 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $49,344 |
| Total operating and administrative expenses | $50,894 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $50,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,549 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $8,439 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $720,600 |
| Other assets | $238,059 |
| Total assets | $1,369,024 |
| Accounts payable and accrued expenses | -$800 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $57,028 |
| Other liabilities | $1,200 |
| Total liabilities | $57,428 |