Historic Salem Inc

What it reported doing in 2025

Historic salem, inc. (hsi) is one of the nation's oldest preservation advocacy organizations, founded in 1944 to save the historically important jonathan corwin and the nathaniel bowditch houses from demolition for street widening. Later, hsi was a leader in blocking urban renewal in the 1970s. In 2000, hsi retook responsibility for and ownership of the national register nathaniel bowditch house after years of neglect during municipal ownership, restoring its late 18th-century interior. In 2022 we continued significant preservation of the house by replacing the wood shingle roof with historic accuracy. Hsi actively collaborates with and advocates before neighborhood groups, the city, and city boards and commissions on issues ranging from demolition of historic structures and new development to the city's preservation planning and execution. In concert with a neighborhood group, in 2007, hsi saved the 1790s pope house, an early quaker-owned property. In 2022, we successfully advocated for the city amendment of its demolition delay ordinance to enhance protections for buildings 50 to 100 years old. Historic salem inc has a positive impact on shaping design proposals for major development projects in salem, including el centro, a housing and health center, the ac marriott hotel, and the lifebridge/harborlights development. Hsi has also actively engaged in discussions concerning new construction at key gateway locations, such as 301 essex street and 252 bridge street (the exchange). Additionally hsi provided consultation to the ropes mansion regarding the design and installation of sidewalk bricks and protective bollards. Hsi also weighed in on the planned relocation of pioneer village, salem's open air museum that interprets 17th-century life. In 2024, hsi partnered with the greater endicott street neighborhood (gesn) to assess the area's eligibility for listing on the national register of historic places. Acting on behalf of the neighborhood, hsi submitted an application and successfully secured a matching grant from the Massachusetts historical commission to support a comprehensive historic resource inventory. Historic salem sponsors an annual christmas in salem tour for the public that showcases historic homes and buildings decorated for the holiday season. This annual event draws thousands of people to enjoy the extraordinary wealth of intact historical architecture and building fabric in our nearly 400-year-old coastal community. Hsi also presents lectures, symposia, walking tours, and panel discussions. In 2015 we organized with the peabody essex museum a widely recognized symposium on ada louise huxtable, showcasing her leading role in launching the national historic preservation movement. The symposium focused on the importance of preservation both for its sense of place as well as its economic value. Talking about design (tad), an hsi lecture series, focuses on the important elements of urban design in preservation, and its more informal beards and brews talks showcase interesting elements of historical architecture and social history. Additionally, hsi partners with other community non-profits, including the salem athenaeum, the pickering house, the house of seven gables, the salem historical society, the salem garden club, and the peabody essex museum, and is a member of salem's preservation partnership.

Financial Efficiency

• Mission deployment rate: 71.9%; rating input score 72
• Program expense ratio: 65.4%; rating input score 65
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
• Governance controls: 1 of 7 controls in place; rating input score 14
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -4.7%; rating input score 26; 26th percentile among comparable filings
• Total-asset coverage ratio: 5.75; rating input score 82; 82nd percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 50; 50th percentile among comparable filings
• Officer compensation ratio: 17.8%; rating input score 20; 20th percentile among comparable filings

Growth

• Program expense growth: 0.2% per year; rating input score 100; 29th percentile among comparable filings
• Revenue growth: 6.2% per year; rating input score 100; 54th percentile among comparable filings
• Asset growth: 3% per year; rating input score 100; 35th percentile among comparable filings