FINGER LAKES BOATING MUSUEM INC (EIN 161542277) - Form 990 Financial Analysis & Trantor Score

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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

1997

Legal Domicile

Principal Officer

LAURA CHANDLER

Phone

6075692222

Tax Period

2024-01-01 to 2024-12-31

FINGER LAKES BOATING MUSUEM INC, founded in 1997, is a small nonprofit in the Arts, Culture & Humanities sector that reported $492K in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $447K left a modest 9% surplus.

Mission

TO COLLECT, PRESERVE AND INTERPRET OBJECTS RELATED TO BOATING AND BOATING ORIGINATING IN OR OTHERWISE ASSOCIATED WITH THE FINGER LAKES REGION.

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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 (2024)

Revenue Breakdown

Contributions & Grants $247,034

Program Service Revenue $220,502

Investment Income $11,407

Other Revenue $13,359

TOTAL REVENUE $492,302

Expense Breakdown

Grants Paid $0

Salaries & Benefits $200,215

Fundraising Expenses $0

Program Expenses $402,945

Other Expenses $246,839

TOTAL EXPENSES $447,054

Year-over-Year Comparison

	2024	2023	Change
Revenue	$492,302	$560,457	-0.1%
Expenses	$447,054	$418,201	+0.1%
Net Income	$45,248	$142,256	-0.7%

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

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

$75,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KARA CALDER	EXECUTIVE DIRECTOR	040.00	Officer	$75,000	$0	$75,000
DAVE BORNHOLDT	PRESIDENT	002.00	Director	$0	$0	$0
JOHN RUDD	VICE PRESIDENT	002.00	Director	$0	$0	$0
LAURA CHANDLER	TREASURER	002.00	Director	$0	$0	$0
KATHY VENEMA	SECRETARY	002.00	Director	$0	$0	$0
BERNIE BURNS	TRUSTEE	002.00	Director	$0	$0	$0
N/A	TRUSTEE	002.00	Director	$0	$0	$0
DUNCAN SPRINGSTEAD	TRUSTEE	002.00	Director	$0	$0	$0
ED WIGHTMAN	TRUSTEE	002.00	Director	$0	$0	$0
PAM BORNHOLDT	MEMBER AT LARGE	002.00	Director	$0	$0	$0
BERNIE BURNS	TRUSTEE	002.00	Director	$0	$0	$0
MAGGIE COFFEY	TRUSTEE	002.00	Director	$0	$0	$0
MURRAY HESTLEY	TRUSTEE	002.00	Director	$0	$0	$0
JIM MOORE	TRUSTEE	002.00	Director	$0	$0	$0
PHIL WALKER	TRUSTEE	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
2024	$492,302	$447,054	$2,157,013	$45,248
2023	$560,457	$418,201	$1,917,810	$142,256
2022	$518,532	$446,287	$1,803,086	$72,245
2021	$632,589	$466,775	$1,652,760	$165,814
2020	$505,142	$352,749	$1,468,492	$152,393
2019	$459,278	$318,783	$1,374,319	$140,495
2018	$303,808	$257,373	$1,265,208	$46,435

FINGER LAKES BOATING MUSUEM INC