Historic Annapolis Inc
Nonprofit profile at a glance
- EIN
- 520645783
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024, Form 990-T 2021
- Location
- Annapolis, MD, USA
- Phone
- 4102677619
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Historical Societies & Historic Preservation
Reported finances
- Revenue
- $7,668,131
- Expenses
- $2,837,644
- Assets
- $26,701,665
- Liabilities
- $861,045
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
21 people listed
Executive titles in this filing
- LUDMILA MIKHAILOVA (VICE-PRESIDENT OF FINANCE)
- KAREN THEIMER BROWN (PRESIDENT & CEO)
Highest reported compensation
- KAREN THEIMER BROWN (PRESIDENT & CEO): $140,475 total reported compensation
- LUDMILA MIKHAILOVA (VICE-PRESIDENT OF FINANCE): $100,275 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
We are the leading nonprofit preservation and history organization in annapolis, md. Our mission is to preserve and protect the historic places, objects, and stories of Maryland's capital city, and provide engaging experiences that connect people to the area's heritage.
What it reported doing in 2024
Formed as a grassroots organization focused on protecting historic properties from demolition, ha played a crucial role in saving more than 200 historic properties in annapolis, was instrumental in securing the colonial annapolis historic district's designation as a national historic landmark district, and continues to advocate for preservation-minded development within our state's capital today. Ha cares for 13 historic properties, a dozen of which are owned by the state of Maryland. We connect with more than 200,000 national and international visitors annually by providing public access to these cultural treasures through heritage tourism and educational experiences including tours of historic houses, school programs and field trips, museum exhibitions, and immersive living history experiences.
Operating model
- Revenue model
- Grant-funded. 70% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 51
- Transparency & Controls: 100
- Accountability: 100
- Sustainability: 84
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 30.2%; rating input score 30
- Program expense ratio: 77.7%; rating input score 78
- Fundraising efficiency: $48.06 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 63%; rating input score 95; 95th percentile among comparable filings
- Total-asset coverage ratio: 9.41; rating input score 90; 90th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 76; 76th percentile among comparable filings
- Officer compensation ratio: 8.5%; rating input score 35; 35th percentile among comparable filings
Growth
- Program expense growth: 3.9% per year; rating input score 100; 33rd percentile among comparable filings
- Revenue growth: 11.5% per year; rating input score 100; 73rd percentile among comparable filings
- Asset growth: 14.2% per year; rating input score 100; 72nd percentile among comparable filings
Details
- Where the money goes: 30.2% of revenue deployed · 77.7% of spending went to programs
- Governance: 19 of 19 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $2.2M in reported program spending
- Leadership: top reported pay $140K · 21 people listed
- Highest-paid contractors: 2 contractors listed · $758K reported
- Consistency: 37 of 37 current checks pass
- Schedules: 8 filed schedules · includes major donors
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Related organizations: 1 filed related-organization link
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
- Moderate — Sustainability: Officer compensation ratio scored 35/100.