ICEBREAKER MACKINAW MARITIME MUSEUM

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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

2004

Legal Domicile

Principal Officer

THOMAS SPAUDE

Phone

2314201407

Tax Period

2023-01-01 to 2023-12-31

ICEBREAKER MACKINAW MARITIME MUSEUM, founded in 2004, is a small nonprofit in the Arts, Culture & Humanities sector that reported $223K in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $258K exceeded revenue, resulting in a 16% operating deficit.

Mission

TO PRESERVE THE LEGACY OF THE MACKINAW WAGB 83 AND HER CREW BY OPERATING USCGC MACKINAW AS A MUSEUM. THIS MUSEUM COLLECTS, PRESERVES, PROTECTS AND INTERPRETS THE HISTORY OF THE COAST GUARD PRESENCE ON THE GREAT LAKES FROM THE EARLY 1940'S TO THE PRESENT.

Program Service Accomplishments

Program 1

Expenses: $171,091 Revenue: $157,041

THE CORPORATION IS FORMED TO PURSUE THE ACQUISITION OF THE USCGC MACKINAW FOLLOWING HER DECOMISSIONING BY THE FEDERAL GOVERNMENT. ALL OF THE INTERPRETIVE PROGRAMS WILL PRESENT AND SEEK TO EDUCATE THE VISITOR, IN AN ENTERTAINING WAY, ON THE IMPORTANCE OF BOTH THE US COAST GUARD ACTIVITY ONT HE GREAT LAKES AND THE ECONOMIC AND ECOLOGIC IMPORTANCE OF THE LAKES THEMSELVES TO THE QUALITY OF LIFE IN AREA OF THE STRAITS OF MACKINAC IN THE STATE OF MICHIGAN.

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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 (2023)

Revenue Breakdown

Contributions & Grants $25,305

Program Service Revenue $157,041

Investment Income $63

Other Revenue $40,567

TOTAL REVENUE $222,976

Expense Breakdown

Grants Paid $0

Salaries & Benefits $165,143

Fundraising Expenses $477

Program Expenses $171,091

Other Expenses $92,757

TOTAL EXPENSES $257,900

Year-over-Year Comparison

	2023	2022	Change
Revenue	$222,976	$237,278	-0.1%
Expenses	$257,900	$271,323	0.0%
Net Income	$-34,924	$-34,045	+0.0%

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
MIKE DAVANZO	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM MARVIN	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVID MORTHLAND	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
ADAM PRICE	DIRECTOR	1.00	Director	$0	$0	$0
LINDA ROGERS	SECRETARY	1.00	Director	$0	$0	$0
CHRIS SHEPLER	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS SPAUDE	TREASURER	1.00	Director	$0	$0	$0
JIM STEVENS	DIRECTOR	1.00	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
2023	$222,976	$257,900	$2,215,102	$-34,924
2022	$237,278	$271,323	$2,239,911	$-34,045
2021	$322,433	$261,021	$2,274,007	$61,412
2020	$225,182	$233,671	$2,238,237	$-8,489
2019	$281,588	$275,720	$2,246,272	$5,868
2018	$560,487	$252,030	$2,240,000	$308,457