Watkins Mill Association Inc

What it reported doing in 2024

Watkins Mill Association (WMA) proactively supports the preservation and living history of Watkins Woolen Mill State Historic Site. Watkins Mill is the last textile mill in the United States with its original machinery still intact. The Association promoted the Mill to be recognized by the United States Department of Interior as a National Historical Landmark (1966, 2024), the National Register of Historic Places (1966), a Clay County Historic Landmark (1976), and a National Mechanical Engineering Landmark (1980). WMA turned the Historic Site into a destination, restoring Watkins' Home, Mill, Chapel, one-room Schoolhouse and farm buildings. It worked. Watkins Mill is now the region's premier historic attraction. WMA is still emerging from COVID-19's effects, which clearly presented challenges. Watkins Mill was one of four State Parks completely closed in 2020. Volunteers, the basis for successful operations, were deprived of the work they love, as Park and Historic Site access and events were necessarily cancelled. The Association met these challenges head-on, have resumed popular group activities, and are now rebuilding our base of Volunteer Tour Guides: Financially, we fought a good fight, maintaining strong relationships with Foundations and individual donors. Board Members universally contribute to WMA; Leveraging Phase II funding for major Historic Site Restorations, which WMA secured, we partnered with Missouri Department of Natural Resources to complete Phase II of the ten-year plan; During 2024 Watkins Mill continued bouncing back from COVID-19, attracting 12,719 Historic Site Visitors and 325,621 total Park Visitors; We are pleased many Volunteers are returning, allowing us to successfully host the weekly Heirloom Garden visits, Spring on the Farm, Get Outdoors 6K Run, and Living History weekends. They are bringing Historic Site Tours and Living History activities back to life; Our biggest challenge is to recruit and train Volunteer Tour Guides to meet Student and growing Visitor demands. Volunteer Tour Guides, who aged out during COVID, are essential to replace Park Staff previously cut from State budgets. WMA is proceeding with determination to reestablish Watkins Mill as the region's premier historic attraction. In partnership with Missouri State Parks, the Association cultivates an 1870s non-traditional community venue which encourages historic, educational, cultural, and recreational programs. Visiting the Historic Site is like stepping into the 19th Century. Many of the buildings that Waltus Watkins built over half a century - including the family home and three-story woolen mill - are preserved to provide Visitors a sense of 1870s life. College professors and K-12 teachers often include Watkins Mill in curricula for its historical importance featuring entrepreneurs in frontier life, the Industrial Revolution and Civil War.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 71.7%; rating input score 72
• Fundraising efficiency: $12.23 raised per $1 spent on fundraising; rating input score 57; 57th 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; 64th percentile among comparable filings
• Governance controls: 5 of 7 controls in place; rating input score 71
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -299.8%; rating input score 10; 10th percentile among comparable filings
• Total-asset coverage ratio: 2.71; rating input score 39; 39th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 35; 35th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

• Program expense growth: 34.7% per year; rating input score 100; 91st percentile among comparable filings
• Revenue growth: 5% per year; rating input score 100; 78th percentile among comparable filings
• Asset growth: 5.6% per year; rating input score 100; 68th percentile among comparable filings