Salem Historical Society
- Assets
- $3.8m
- Revenue
- $260.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Salem, VA
- Founding
- 01/1980
- Data as of
- 06/2021
- EIN
- 54-1088887
Organization Overview
Salem Historical Society is located in Salem, VA. The organization was established in 1980. 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 06/2021, Salem Historical Society employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem Historical Society 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, Salem Historical Society generated $260.4k 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 (15.7%) each year. All expenses for the organization totaled $305.0k during the year ending 06/2021. 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 PROVIDE HISTORICAL EDUCATION AND PRESERVATION PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE A MUSEUM AND THE PRESTON PLACE HOUSE, PROVIDE LECTURES,EDUCATIONAL PROGRAMS, AND INTERPRETIVE TOURS OF LOCAL HISTORICAL SITES, AND IDENTIFICATION OF HISTORICAL SITES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frances Ferguson Executive Director | Officer | 0 | $54,540 |
Alex Burke Asst Executive Director | Officer | 0 | $37,000 |
Susan Mini Past President | Officer | 0 | $0 |
Gail Burruss Secretary | Officer | 0 | $0 |
Susan Kirby President-Elect | Officer | 0 | $0 |
Peggy A Shifflett Treasurer | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $19,873 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $77,760 |
| All other contributions, gifts, grants, and similar amounts not included above | $121,060 |
| Noncash contributions included in lines 1a–1f | $17,095 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $218,693 |
| Total Program Service Revenue | $1,512 |
| Investment income | $9,514 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,335 |
| Net Gain/Loss on Asset Sales | $783 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,600 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $260,374 |
| 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. | $91,540 |
| Compensation of current officers, directors, key employees. | $27,462 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,003 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,438 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,149 |
| Office expenses | $1,522 |
| Information technology | $18,424 |
| Royalties | $0 |
| Occupancy | $13,839 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $300 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $89,999 |
| Insurance | $7,548 |
| All other expenses | $3,406 |
| Total functional expenses | $305,037 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,903 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Inventories for sale or use | $14,390 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,458,014 |
| Investments—publicly traded securities | $655,222 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $606,212 |
| Total assets | $3,830,741 |
| Accounts payable and accrued expenses | $964 |
| 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 | $0 |
| Other liabilities | $1,500 |
| Total liabilities | $2,464 |
| Net assets without donor restrictions | $3,615,954 |
| Net assets with donor restrictions | $212,323 |
| 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 | $3,830,741 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Salem Historical Society has recieved totaling $22,784.
| Awarding Organization | Amount |
|---|---|
Community Foundation Serving Western Virginia Roanoke, VA PURPOSE: ARTS, CULTURE & HUMANITIES | $18,250 |
Logan Iii Charitable Fund Richmond, VA PURPOSE: OPERATIONS | $3,000 |
Bane Foundation Salem, VA PURPOSE: DONATION | $1,000 |
Shell Oil Company Foundation Houston, TX PURPOSE: MG | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $34 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
White House Historical Association Washington, DC | $70,614,346 | $21,703,882 |
National Links Trust Washington, DC | $8,914,003 | $10,793,468 |
Maymont Foundation Richmond, VA | $38,971,207 | $5,423,725 |
The Lynnwood Foundation Charlotte, NC | $21,387,443 | $5,860,754 |
The Heritage Foundation Of Williamson County Tn Franklin, TN | $23,589,168 | $5,101,900 |
Classical American Homes Preservation Trust Hillsborough, NC | $132,123,539 | $8,113,151 |
Andrew Jackson Foundation Hermitage, TN | $11,010,285 | $4,320,645 |
National Archives Foundation Washington, DC | $14,544,421 | $8,935,036 |
Memphis Chapter For Preservation Of Tennessee Antiquities Nashville, TN | $7,377,257 | $4,193,595 |
House Of The Temple Historic Preservation Foundation Inc Washington, DC | $31,687,828 | $5,822,669 |
Historic Annapolis Inc Annapolis, MD | $11,216,187 | $4,170,932 |
The George Washington Foundation Fredericksburg, VA | $39,220,156 | $2,847,343 |