SKATING ASSOCIATION OF MAINE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1981

Legal Domicile

Principal Officer

HEATHER KNOWLES

Phone

2074463033

Tax Period

2025-01-01 to 2025-12-31

SKATING ASSOCIATION OF MAINE, founded in 1981, is a small nonprofit that reported $611K in total revenue in fiscal year 2025. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $532K left a modest 13% surplus.

Mission

TO ENCOURAGE AND PROMOTE ICE SKATING PROGRAMS IN THE STATE OF MAINE

Program Service Accomplishments

Program 1

Expenses: $524,463 Revenue: $577,635

THE ASSOCIATION EXISTS TO ENCOURAGE AND PROMOTE THE PARTICIPATION, INSTRUCTION, PRACTICE, AND ADVANCEMENTOF ITS MEMBERS IN THE SPORT OF SKATING ON ICE. THE ASSOCIATIONS PROGRAMS INCLUDE, BUR ARE NOT LIMITED TO, LEARN TO SKATE, FIGURE SKATING, AND HOCKEY, AND ARE PROMOTED IN ACCORDANCE WITH THE RULES AND REGULATIONS OF EACH SPORTS NATIONAL GOVERNING BODY NGB. THE ASSOCIATION ALSO STRIVES TO INSTILL THE IDEALS OF GOOD SPORTSMANSHIP, HONESTY, AND TEAMWORK IN ITS MEMBERS. DURING 2019, THE SKATING ASSOCIATION OF MAINE SERVED APPROXIMATELY 488 CHILDREN AND YOUTH THROUGH FORMAL PROGRAMS AND COUNTLESS MORE PARTICIPATED IN FREE SKATE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $14,448

Program Service Revenue $577,635

Investment Income $1,551

Other Revenue $17,281

TOTAL REVENUE $610,915

Expense Breakdown

Grants Paid $0

Salaries & Benefits $23,707

Fundraising Expenses $0

Program Expenses $524,463

Other Expenses $508,369

TOTAL EXPENSES $532,076

Year-over-Year Comparison

	2025	2024	Change
Revenue	$610,915	$475,596	+0.3%
Expenses	$532,076	$418,614	+0.3%
Net Income	$78,839	$56,982	+0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

125

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN SMITH	PRESIDENT	002.00	Officer Director	$0	$0	$0
STEVEN PRESCOTT	VICE PRESIDENT	002.00	Officer Director	$0	$0	$0
LARS SCHULTZ NEILSON	SECRETARY	002.00	Officer Director	$0	$0	$0
KATHLEEN CARR	TREASURER	002.00	Officer Director	$0	$0	$0
ERIC NASON	DIRECTOR AT LARGE	002.00	Director	$0	$0	$0
MARK ELLIS	DIRECTOR AT LARGE	002.00	Director	$0	$0	$0
JAMES HOWE	DIRECTOR AT LARGE	002.00	Director	$0	$0	$0
SANDRA PRESCOTT	DIRECTOR -PRESCOTT REP	002.00	Director	$0	$0	$0
STEPHANIE WEBER	DIRECTOR AT LARGE	002.00	Director	$0	$0	$0
LEON DORR	DIRECTOR AT LARGE	002.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$610,915	$532,076	$443,954	$78,839
2024	No data	No data	No data	No data
2023	$385,760	$374,375	$307,388	$11,385
2022	$361,871	$346,443	$296,003	$15,428
2021	$307,534	$276,967	$280,575	$30,567
2020	$309,078	$305,542	$250,008	$3,536
2019	$399,469	$385,437	$246,472	$14,032
2018	$387,018	$393,663	$232,440	$-6,645