LAKE STATES RAILWAY HISTORICAL ASSOCIATION INC (EIN 161773938) - 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

2006

Legal Domicile

Principal Officer

PAUL SWANSON

Phone

7733431868

Tax Period

2025-01-01 to 2025-12-31

LAKE STATES RAILWAY HISTORICAL ASSOCIATION INC, founded in 2006, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $100K in total revenue in fiscal year 2025. Revenue surged 59% from the prior year, signaling strong growth momentum. The organization ran a surplus of $34K, a strong 34% operating margin.

Mission

PRESERVATION AND DISSEMINATION OF RAILROAD HISTORY WITH EMPHASIS ON THE WESTERN GREAT LAKES REGION OF THE UNITED STATES.

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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 $74,924

Program Service Revenue $20,703

Investment Income $2,778

Other Revenue $1,412

TOTAL REVENUE $99,817

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,272

Fundraising Expenses $0

Program Expenses $63,565

Other Expenses $58,298

TOTAL EXPENSES $65,570

Year-over-Year Comparison

	2025	2024	Change
Revenue	$99,817	$62,891	+0.6%
Expenses	$65,570	$54,688	+0.2%
Net Income	$34,247	$8,203	+3.2%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GEORGE FORERO	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
STEVEN GLISCHINSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN MATSUMOTO	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE RAIA	TREASURER	1.00	Officer Director	$0	$0	$0
PAUL SWANSON	PRESIDENT	1.00	Officer Director	$0	$0	$0
MATTHEW THEROUX	BOARD MEMBER	1.00	Director	$0	$0	$0
SAMUEL T WEBER	BOARD MEMBER	1.00	Director	$0	$0	$0
PHIL WELLMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
PAUL KNUTSON	SECRETARY	1.00	Officer	$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	$99,817	$65,570	$604,780	$34,247
2024	$62,891	$54,688	$536,338	$8,203
2023	$76,127	$44,614	$504,953	$31,513

LAKE STATES RAILWAY HISTORICAL ASSOCIATION INC