DOOR COUNTY MARITIME MUSEUM & LIGH… - Form 990 Financial Data

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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

1970

Legal Domicile

Principal Officer

GARY KING

Phone

9207435958

Tax Period

2024-01-01 to 2024-12-31

DOOR COUNTY MARITIME MUSEUM & LIGHTHOUSE PRESERVATION SOCIETY INC, founded in 1970, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.2M in total revenue in fiscal year 2024. Revenue fell 25% from the prior year — a significant decline worth monitoring. Net assets of $12.5M represent 68 months of operating reserves.

Mission

PRESERVE GREAT LAKES MARITIME HISTORY, PRIMARILY FOCUSING ON DOOR COUNTY, WISCONSIN AND PROVIDE INTERPRETIVE AND EDUCATIONAL OPPORTUNITIES FOR CURRENT AND FUTURE GENERATIONS.

Program Service Accomplishments

Program 1

Expenses: $1,570,069 Revenue: $1,153,802

PROVIDED DOOR COUNTY WISCONSIN RESIDENTS AND TOURISTS WITH THREE MUSEUMS DEVOTED TO THE HISTORICAL PRESERVATION OF MARITIME HISTORY OF THE GREAT LAKES AND CONTINUE TO EDUCATE THE PUBLIC THROUGH...

PROVIDED DOOR COUNTY WISCONSIN RESIDENTS AND TOURISTS WITH THREE MUSEUMS DEVOTED TO THE HISTORICAL PRESERVATION OF MARITIME HISTORY OF THE GREAT LAKES AND CONTINUE TO EDUCATE THE PUBLIC THROUGH VARIOUS PROGRAMS, SPECIAL EVENTS AND OTHER EDUCATIONAL OPPORTUNITIES.

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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 $787,754

Program Service Revenue $982,813

Investment Income $224,239

Other Revenue $206,832

TOTAL REVENUE $2,201,638

Expense Breakdown

Grants Paid $0

Salaries & Benefits $807,170

Fundraising Expenses $233,504

Program Expenses $1,570,069

Other Expenses $1,360,936

TOTAL EXPENSES $2,168,106

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,201,638	$2,927,104	-0.2%
Expenses	$2,168,106	$1,983,522	+0.1%
Net Income	$33,532	$943,582	-1.0%

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

167

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

$114,231

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE WICKMAN	DIRECTOR	1.00	Director	$0	$0	$0
MARK WEBORG THRU SEPT 2024	DIRECTOR	1.00	Director	$0	$0	$0
JIM SPRINGER THRU SEPT 2024	DIRECTOR	1.00	Director	$0	$0	$0
BOB PURVES	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES HENRIKSEN	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS CAP WULF	DIRECTOR	1.00	Director	$0	$0	$0
MIKE GILSON	DIRECTOR	1.00	Director	$0	$0	$0
JOHN BAUMGARTNER	DIRECTOR	1.00	Director	$0	$0	$0
CHERYL ARNOTT	DIRECTOR	1.00	Director	$0	$0	$0
BOB DENOTO	SECRETARY	1.00	Officer Director	$0	$0	$0
ALISON WALKER	TREASURER	1.00	Officer Director	$0	$0	$0
GARY KING	BOARD CHAIR	10.00	Officer Director	$0	$0	$0
JOHN ASHER	VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
TERRY CONNELLY THRU JUNE 2024	PRESIDENT	10.00	Officer Director	$0	$0	$0
NATHAN DINEEN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SCHANOCK	DIRECTOR	1.00	Director	$0	$0	$0
PAM SEILER	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN O'DONNELL	DIRECTOR	1.00	Director	$0	$0	$0
GREG HOLUB	DIRECTOR	1.00	Director	$0	$0	$0
DEAN STEWART	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD OSGOOD	EXECUTIVE DIRECTOR	40.00	Officer	$114,231	$0	$114,231

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	$2,201,638	$2,168,106	$12,997,472	$33,532
2023	$2,927,104	$1,983,522	$13,072,156	$943,582
2022	$3,126,391	$1,870,506	$12,201,176	$1,255,885
2021	$3,874,583	$1,400,896	$12,430,907	$2,473,687
2020	$1,852,699	$1,099,885	$11,471,655	$752,814
2019	$2,306,229	$1,256,570	$7,244,787	$1,049,659
2018	$2,005,393	$1,345,904	$5,756,424	$659,489

DOOR COUNTY MARITIME MUSEUM & LIGHTHOUSE PRESERVATION SOCIETY INC