Preservation Worcester INC FY2024 filing

Tax-deductible

Worcester, MA501(c)(3)Since 1969Arts & CultureEIN 23-7073959Revenue $888K in FY2024

On file with the IRSpreservationworcester.org61 Harvard Street, 01609-2752 · Worcester, MATax-exempt since Jun 1970Publicly supported charity — 170(b)(1)(A)(vi)

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To provide an organization devoted exclusively to the prosecution of historic Preservation, antiquarian, educational, historical, literary, artisitic and monumental purposes, no part of the net earnings of which inures to the benefit of any individual and no substantial part of the activites of which is carrying propoganda, or otherwise attempting to influence legislation; and in furtherance of said purposes to promote and encourage the Preservation and appreciation of the heritage of the city of Worcester, first by preserving sites, structures and artifacts which are significant to its culture, history and architecture, second by research, surveys, inventories, public educational programs and lectures, third, by working with planning agencies and concerned citizens, and fourth by doing all things in furtherance of said purposes as permitted under the laws of the commonwealth of massachusetts.

501(c)(3) charity; gifts are tax-deductible.
58¢ of each $1 spent went to programs.
$112K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $287K a year · 43% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
58%
of spending
Worth a look: 58% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$112K
to officers and key staff · 30% of spending
Worth a look: pay to officers and key staff is 30% of spending; over 20%.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $11K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$19K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
20
of 20 voting members
Looks good: 20 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$888K
+163% vs prior year
Spent
$372K
To programs
58%
Net assets
$3.3M
By yearFY2020–FY2025
Revenue
$888K
FY2024▲ +163%
Tap a bar for its year
Revenue by fiscal year
FY2020$421K
FY2021$363K
FY2022$1.6M
FY2023$337K
FY2024$888K
FY2025$392K
Expenses
$372K
FY2024▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$387K
FY2021$302K
FY2022$445K
FY2023$347K
FY2024$372K
FY2025$428K
Net assets
$3.3M
FY2024▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.6M
FY2021$1.7M
FY2022$2.6M
FY2023$2.7M
FY2024$3.3M
FY2025$3.3M

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1970.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

58 cents of each dollar spent went to programs.

Program services 58% · $217K Management & general 26% · $95K Fundraising 16% · $60K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990; $112K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$112,439Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Deborah Packard’s $66K as Former Executive Director is at the 60th percentile of top reported officer pay among 2215 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Deborah Packard$65,589$112,439$110,477$106,340$102,743$97,850
Patrick Maloney$62,641—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Preservation Worcester INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Preserves and promotes Worcester's heritage through site preservation, research, and educational programs.

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Provided by the organization

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1 program · $217K · in their own filed words · FY2024
01

Promotion, encouragement and appreciation of the heritage of worcester; the restoration and preservation of historical buildings and sites.

$217Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$11K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$888K
Ln 12
Gifts and grantsLn 1h$714K
Other incomeLn 4–11$121K
Investment incomeLn 3$52K
Money outPt IX
$372K
Ln 25
Programscol B$217K
Managementcol C$95K
Fundraisingcol D$60K
Owns and owesPt X
$3.3M
net assets · Ln 32
Cash and savingsLn 1–2$295K
Total assetsLn 16$3.3M
LiabilitiesLn 26$19K
PeoplePt VI, VII
21
listed · VII A
PaidVII A1
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$714K
Fees for servicesLn 2g$1K
Investment incomeLn 3$52K
Other incomeLn 4–11$121K
Gains on assetsLn 7$18K
Total revenueLn 12$888K
Assets in detailPt X, end of year
CashLn 1$295K
Cash and savings togetherLn 1–2$295K
InvestmentsLn 11–13$1.4M
Land, buildings, equipmentLn 10c$1.6M
Total assetsLn 16$3.3M
LiabilitiesLn 26$19K
Net assetsLn 32$3.3M
OperationsPt I, VI
EmployeesI 57
VolunteersI 6100
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$238K$295K
InvestmentsLn 11–13$1.2M$1.4M
Land, buildings, equipmentLn 10c$1.3M$1.6M
Total assetsLn 16$2.7M$3.3M
LiabilitiesLn 26$19K$19K
Net assetsLn 32$2.7M$3.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$112K$56K$22K$34K
Other salaries and wagesLn 7$79K$26K$46K$6K
Other employee benefitsLn 9$6K$3K$2K$1K
Payroll taxesLn 10$14K$6K$5K$3K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$4K$3K$1K$321
Advertising and promotionLn 12$225$189$36
Office expensesLn 13$8K$3K$4K
OccupancyLn 16$60K$60K
InterestLn 20$10$10
Depreciation, depletion and amortizationLn 22$30K$30K
InsuranceLn 23$16K$11K$5K
Other expenses (24a–d)Ln 24$33K$16K$2K$15K
All other expensesLn 24e$3K$2K$545
Total functional expensesLn 25$372K$217K$95K$60K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $392K$428K−$35K$3.3M 990 PDF
FY2024 Viewing $888K$372K$515K$3.3M 990 PDF
FY2023 $337K$347K−$10K$2.7M 990 PDF
FY2022 $1.6M$445K$1.2M$2.6M 990 PDF
FY2021 $363K$302K$61K$1.7M 990 PDF
FY2020 $421K$387K$34K$1.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $887,706 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $166,901$713,679
I-9 Program service revenuePrior year $2,060$1,150
I-10 Investment incomePrior year $40,808$51,625
I-11 Other revenuePrior year $127,643$121,252
I-12 Total revenuePrior year $337,412$887,706
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $182,784$210,890
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $164,423$161,373
I-18 Total expensesPrior year $347,207$372,263
I-19 Revenue less expensesPrior year −$9,795$515,443
Part VI · Governance 20 of 20 board members independent, 3 to look at
VI-1a Voting members of the governing body20
VI-1b Independent voting members20
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $887,706 across 10 lines filed
VIII-1b Membership dues$24,000
VIII-1f All other contributions, gifts and grants$689,679
VIII-1h Total contributions, gifts and grants$713,679
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,150$1,150
VIII-3 Investment incomeExcluded from tax $33,147$33,147
VIII-6 Net rental income or lossExcluded from tax $86,630$86,630
VIII-7 Net gain or loss on sales of assetsExcluded from tax $18,478$18,478
VIII-8 Net income from fundraising eventsExcluded from tax $32,638$32,638
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,984$1,984
VIII-12 Total revenueRelated to mission $3,134 · Unrelated business $0 · Excluded from tax $170,893$887,706
Part IX · Statement of functional expenses $372,263 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $56,219 · Management $22,488 · Fundraising $33,732$112,439
IX-7 Other salaries and wagesPrograms $26,412 · Management $46,043 · Fundraising $6,372$78,827
IX-9 Other employee benefitsPrograms $2,644 · Management $1,997 · Fundraising $1,284$5,925
IX-10 Payroll taxesPrograms $6,114 · Management $4,617 · Fundraising $2,968$13,699
IX-11c Accounting feesManagement $6,625$6,625
IX-11g Other fees for servicesPrograms $2,806 · Management $1,055 · Fundraising $321$4,182
IX-12 Advertising and promotionPrograms $189 · Fundraising $36$225
IX-13 Office expensesPrograms $3,269 · Management $4,333$7,602
IX-16 OccupancyPrograms $59,892$59,892
IX-20 InterestPrograms $10$10
IX-22 Depreciation, depletion and amortizationPrograms $30,280$30,280
IX-23 InsurancePrograms $10,908 · Management $5,372$16,280
IX-24 Other expenses (24a–d)Programs $15,774 · Management $2,140 · Fundraising $15,386$33,300
IX-24e All other expensesPrograms $2,432 · Management $545$2,977
IX-25 Total functional expensesPrograms $216,949 · Management $95,215 · Fundraising $60,099$372,263
Part X · Balance sheet $3,284,226 assets, 12 lines filed
Asset lines not itemized here account for $3,107; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $237,614$294,765
X-10c Land, buildings and equipment, netStart of year $1,299,558$1,635,761
X-11 Publicly traded securitiesStart of year $1,105,443$1,294,620
X-12 Other securitiesStart of year $50,083$55,973
X-16 Total assetsStart of year $2,698,349$3,284,226
X-17 Accounts payable and accrued expensesStart of year $6,750$7,050
X-19 Deferred revenueStart of year $12,000$12,000
X-26 Total liabilitiesStart of year $18,750$19,050
X-27 Net assets without donor restrictionsStart of year $1,887,960$2,407,915
X-28 Net assets with donor restrictionsStart of year $791,639$857,261
X-32 Total net assets or fund balancesStart of year $2,679,599$3,265,176
X-33 Total liabilities and net assetsStart of year $2,698,349$3,284,226
Part XI · Reconciliation of net assets $3,265,176 net assets at year end
XI-1 Total revenue$887,706
XI-2 Total expenses$372,263
XI-3 Revenue less expenses$515,443
XI-4 Net assets at start of year$2,679,599
XI-5 Net unrealized gains (losses) on investments$70,135
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,265,176

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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