Preservation Worcester Inc
- Assets
- $1.7m
- Revenue
- $362.9k
- Investments
- $83.7k
- Employees
- 3
- Location
- Worcester, MA
- Founding
- 06/1970
- Data as of
- 12/2021
- EIN
- 23-7073959
Organization Overview
Preservation Worcester Inc is located in Worcester, 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. As of 12/2021, Preservation Worcester Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Preservation Worcester Inc 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 12/2021, Preservation Worcester Inc generated $362.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $302.2k during the year ending 12/2021. 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 MAINTAIN FOR FUTURE GENERATIONS THE SITES AND STRUCTURES WHICH ARE SIGNIFICANT TO THE CULTURE, HISTORY AND ARCHITECTURE OF THE CITY AND TO ENCOURAGE EXCELLENCE IN FUTURE DESIGN. WE STRIVE TO ENHANCE OUR COMMUNITY, PROMOTE PRIDE IN OUR CITY AND PROTECT NEIGHBORHOODS. WE DELIVER HIGHLY ACCLAIMED SCHOOL PROGRAMS AND ADULT PROGRAMMING THAT TYPICALLY REACH OVER 10,000 INDIVIDUALS ANNUALLY. WE ARE EXPANDING OUR EDUCATION PROGRAMS TO INCLUDE HISTORIC PRESERVATION TRADES PROGRAM. WE ANNUALLY DETERMINE A LIST OF ENDANGERED BUILDINGS AND ACTIVELY SEEK TO RETURN THOSE PROPERTIES AND OTHERS TO AN ACTIVE AND USEFUL PURPOSE. WE ADVOCATE FOR POLICIES THAT PROMOTE EXCELLENCE IN NEW DESIGN AND LIVEABILITY ISSUES. WE OPERATE A REVOLVING LOAN FUND THAT PROVIDES LOANS FOR FACADE IMPROVEMENTS. STAFF AND VOLUNTEERS OFFER SERVICES TO THE COMMUNITY WHO COME TO US WITH A WIDE VARIETY OF NEEDS. WE PARTNER WITH INDIVIDUALS, CULTURAL ORGANIZATIONS, NEIGHBORHOOD GROUPS, OTHER NONPROFITS, BUSINESSES, CITY DEPART
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION, ENCOURAGEMENT AND APPRECIATION OF THE HERITAGE OF WORCESTER; THE RESTORATION AND PRESERVATION OF HISTORICAL BUILDINGS AND SITES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Packard Executive Dir. | OfficerTrustee | 40 | $102,743 |
Joel D Kent Vice President | OfficerTrustee | 0 | $0 |
Dorothy Hargrove President | OfficerTrustee | 0 | $0 |
Noah Bombard Clerk | OfficerTrustee | 0 | $0 |
Morris A Bergman Asst. Treasurer | OfficerTrustee | 0 | $0 |
James A Welu Vice President | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $23,065 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $110,713 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,532 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $190,310 |
| Total Program Service Revenue | $160 |
| Investment income | $38,458 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $38,057 |
| Net Gain/Loss on Asset Sales | $56,306 |
| Net Income from Fundraising Events | $34,870 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $362,914 |
| 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. | $112,640 |
| Compensation of current officers, directors, key employees. | $16,896 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,577 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,974 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,330 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,519 |
| Fees for services: Other | $2,500 |
| Advertising and promotion | $754 |
| Office expenses | $3,342 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,329 |
| Travel | $64 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,646 |
| Insurance | $6,300 |
| All other expenses | $6,092 |
| Total functional expenses | $302,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $118,434 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,883 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,450 |
| Net Land, buildings, and equipment | $222,541 |
| Investments—publicly traded securities | $1,294,476 |
| Investments—other securities | $83,748 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,738,532 |
| Accounts payable and accrued expenses | $9,610 |
| Grants payable | $0 |
| Deferred revenue | $14,000 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $23,610 |
| Net assets without donor restrictions | $1,059,484 |
| Net assets with donor restrictions | $655,438 |
| 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 | $1,738,532 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Preservation Worcester Inc has recieved totaling $221,360.
| Awarding Organization | Amount |
|---|---|
Stoddard Charitable Trust Worcester, MA PURPOSE: TOWARDS PURCHASE OF THE SALISBURY HO | $200,000 |
Felicia Fund Inc Providence, RI PURPOSE: GENERAL SUPPORT | $7,500 |
Schwartz Charitable Foundation Worcester, MA PURPOSE: TO SUPPORT EXEMPT PURPOSE | $5,000 |
J Irving & Jane L England Charitable Tr 081691 Worcester, MA PURPOSE: GENERAL | $3,300 |
Ajana Foundation Tr Boston, MA PURPOSE: GENERAL & UNRESTRICTED | $2,000 |
Tonna Charitable Trust Worcester, MA PURPOSE: GENERAL | $1,000 |
Endowment Analysis
| Beg. Balance | $161,926 |
| Ending Balance | $161,926 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hamilton-Madison House Inc New York, NY | $11,830,050 | $17,173,913 |
Buffalo Olmsted Parks Conservancy Inc Buffalo, NY | $5,280,478 | $5,712,316 |
New York Landmarks Conservancy Inc New York, NY | $20,181,669 | $5,556,998 |
Marthas Vineyard Museum Inc Vineyard Haven, MA | $28,426,122 | $2,586,449 |
Florence Griswold Museum Inc Old Lyme, CT | $32,307,778 | $2,875,061 |
Friends Of Hildene Inc Manchester, VT | $15,529,063 | $5,299,027 |
Sakonnet Preservation Assoc Inc Little Compton, RI | $7,767,895 | $3,666,448 |
Mattatuck Historical Society Waterbury, CT | $30,372,011 | $3,496,557 |
Edith Wharton Restoration Inc Lenox, MA | $18,245,381 | $3,306,294 |
Rhode Island Historical Society Providence, RI | $30,696,643 | $3,629,513 |
Galvan Initiatives Foundation New York, NY | $45,061,487 | $6,375,160 |
Concord Antiquarian Society Concord, MA | $23,141,155 | $2,972,281 |