Civic Intelligence

Preservation Worcester Inc

EIN 23-7073959 • 501(c)3 • Worcester, MA

Profile

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.

61 Harvard StreetWorcester, MA 01609

preservationworcester.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

29th percentile

0.01x

Higher debt load relative to assets than 29% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

34th percentile

0.02x

Higher debt load relative to revenue than 34% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

92nd percentile

58%

Higher net margin than 92% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

69th percentile

12%

Faster asset growth than 69% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

12th percentile

-25%

Faster revenue growth than 12% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Assets

Up

$3,284,226

Up $585,877 (+22%) from 2023

Liabilities

Up

$19,050

Up $300 (+1.6%) from 2023

Net Assets

Up

$3,265,176

Up $585,577 (+22%) from 2023

Revenue

Up

$887,706

Up $550,294 (+163%) from 2023

Expenses

Up

$372,263

Up $25,056 (+7.2%) from 2023

Net Income

Up

$515,443

Up $525,238 (+5362%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2014: $1,848,285Liabilities 2014: $18,104Net Assets 2014: $1,830,1812014Assets 2015: $1,540,084Liabilities 2015: $46,743Net Assets 2015: $1,493,3412015Assets 2016: $1,766,132Liabilities 2016: $102,337Net Assets 2016: $1,663,7952016Assets 2017: $1,841,357Liabilities 2017: $43,899Net Assets 2017: $1,797,4582017Assets 2018: $1,727,735Liabilities 2018: $39,506Net Assets 2018: $1,688,2292018Assets 2019: $1,911,311Liabilities 2019: $30,209Net Assets 2019: $1,881,1022019Assets 2020: $1,631,501Liabilities 2020: $23,825Net Assets 2020: $1,607,6762020Assets 2021: $1,738,532Liabilities 2021: $23,610Net Assets 2021: $1,714,9222021Assets 2022: $2,609,509Liabilities 2022: $18,785Net Assets 2022: $2,590,7242022Assets 2023: $2,698,349Liabilities 2023: $18,750Net Assets 2023: $2,679,5992023Assets 2024: $3,284,226Liabilities 2024: $19,050Net Assets 2024: $3,265,1762024

Highlighted filing

2024

Assets$3,284,226
Liabilities$19,050
Net Assets$3,265,176

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2014: $931,053Expenses 2014: $268,615Net Income 2014: $662,4382014Revenue 2015: $256,288Expenses 2015: $536,359Net Income 2015: -$280,0712015Revenue 2016: $442,568Expenses 2016: $292,598Net Income 2016: $149,9702016Revenue 2017: $443,282Expenses 2017: $327,524Net Income 2017: $115,7582017Revenue 2018: $291,125Expenses 2018: $339,383Net Income 2018: -$48,2582018Revenue 2019: $459,848Expenses 2019: $364,275Net Income 2019: $95,5732019Revenue 2020: $421,414Expenses 2020: $387,064Net Income 2020: $34,3502020Revenue 2021: $362,914Expenses 2021: $302,221Net Income 2021: $60,6932021Revenue 2022: $1,599,066Expenses 2022: $445,284Net Income 2022: $1,153,7822022Revenue 2023: $337,412Expenses 2023: $347,207Net Income 2023: -$9,7952023Revenue 2024: $887,706Expenses 2024: $372,263Net Income 2024: $515,4432024

Highlighted filing

2024

Revenue$887,706
Expenses$372,263
Net Income$515,443

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 13, 2025
Return Version
2024v5.1
Gross Receipts
$1,180,473
Mission and Program Overview

Mission

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 activities 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 reasearch, 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.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,299,558$1,635,761▲ $336,203
Investments in Publicly Traded Securities$1,105,443$1,294,620▲ $189,177
Cash and Non-Interest-Bearing Accounts$237,614$294,765▲ $57,151
Investments Other Securities$50,083$55,973▲ $5,890
Other Notes and Loans Receivable, Net$5,651$3,107▼ $2,544
Total Assets$2,698,349$3,284,226▲ $585,877
Liabilities
Deferred Revenue$12,000$12,000→ $0
Accounts Payable and Accrued Expenses$6,750$7,050▲ $300
Total Liabilities$18,750$19,050▲ $300
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,887,960$2,407,915▲ $519,955
Net Assets With Donor Restrictions$791,639$857,261▲ $65,622
Total Net Assets Fund Balance$2,679,599$3,265,176▲ $585,577
Total Liabilities and Net Assets / Fund Balance$2,698,349$3,284,226▲ $585,877

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,209,070$73,667$1,282,737
Land$261,621-$261,621
Other Land Buildings$162,078$19,359$181,437
Equipment$2,992$13,910$16,902

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$161,926---$161,926
2023$161,926---$161,926
2022$161,926---$161,926
2021$161,926---$161,926
2020$161,926---$161,926
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Deborah PackardExecutive DirectorFT$112,439$112,439

Board Members and Trustees

NameTitle
Stuart SadickPresident
James WeluVice President
DENISE O'CONNELLDirector
David FortDirector
Dorothy HargroveDirector
Elaine GardellaDirector
Erika CawleyDirector
Howard LucasDirector
Janet BirbaraDirector
Joel KentDirector
Mary Beth LeonardDirector
Mindy MarchandDirector
Noah BombardDirector
Paul CurciDirector
Rachael HallDirector
Robert Para JrDirector
Timothy CorrinetDirector
Morris BergmanAssistant Treasurer
Rafael LazoClerk
James HowTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$713,679
Program Service Revenue
$1,150
Investment Income
$51,625
Other Revenue
$121,252
All Other Contributions
$689,679
Change in Net Assets
$515,443
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$210,890
Other Expenses$161,373
Total Fundraising Expense$60,099
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$56,219$22,488$33,732$112,439
Other Salaries and Wages$26,412$46,043$6,372$78,827
Occupancy$59,892--$59,892
Depreciation Depletion$30,280--$30,280
Insurance$10,908$5,372-$16,280
Payroll Taxes$6,114$4,617$2,968$13,699
Office Expenses$3,269$4,333-$7,602
Fees for Services Accounting-$6,625-$6,625
Other Employee Benefits$2,644$1,997$1,284$5,925
Fees for Services Other$2,806$1,055$321$4,182
Other Expenses$1,473$377$1,284$3,134
All Other Expenses$2,432$545-$2,977
Advertising$189-$36$225
Interest$10--$10
Total Functional Expenses$216,949$95,215$60,099$372,263
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$62,998
Fundraising Direct Expenses$30,360
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Sponsorships$27,720$27,720$30,360$-2,640
Admissions$20,891$20,891-$20,891
Total Events$62,998$62,998$30,360$32,638
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Form 990 is available for board review in executive director's office.

Form 990, Part VI, Section B, Line 15

Salaried personnel are reviewed on an annual basis and the finance committee researches and considers comparable salary data when approving pay raises for personnel.

Form 990, Part VI, Section C, Line 19

The commonwealth of massachusetts, attorney general's office maintains a database of all form 990 filings, which are available for public inspection on their website.

Filing and Contact Details

Filer

Filer Name
Preservation Worcester Inc
EIN
23-7073959
Phone
5087548760
Address
61 HARVARD STREET, WORCESTER, MA 01609

Signing Officer

Name
Deborah Packard
Title
Executive Director
Phone
5087548760
Signed
2025-06-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deborah Packard
Formed
1969
Legal Domicile
Ma
Voting Board Members
20
Independent Board Members
20
Employees
7
Volunteers
100

Preparer

Firm
Spinelli CPA Pc
Address
146 WEST BOYLSTON DRIVE SUITE 302, WORCESTER, MA 01606
Preparer
Karen Spinelli
Phone
5083656522
Supplemental Narrative

Financial Statement Notes

PART II, LINE 9:

Accounting for conservation easements - any costs incurred to enforce the provisions of the easements are expensed as incurred. As a result of the limited market value and due to the obligations inherent in easement ownership, the organization's preservation easement holdings are not reflected in the accompanying financial statements as assets or liabilities.

PART III, LINE 1A:

The organization's collection of artifacts, documents, newspapers, pictures, paintings and books is not capitalized. The organization's collections and publications are held for educational research and curatorial purposes and donated values are not readily determinable. Items purchased for the collection are expensed when acquired.

PART III, LINE 4:

The organization's collections consist of various artifacts, documents, newspapers, pictures, paintings and books. These items serve as a visual reminder related to the history and economical development of worcester along with the historical architectural resources of the area.

PART V, LINE 4:

Alden educational fund - $137,121 principal invested, investment income to be used to promote educational program expenses. Cather scholarship fund - $5,000 principal invested, investment income to be used for scholarships to worcester high school students pursuing demonstrated interest in architecture, historic preservation or urban planning. Preservation worcester endowment fund - $19,805 principal invested, investment income to be used to support the charitable purposes and mission of the organization.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13CLERK
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20EXECUTIVE DIRECTOR
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