LOPEZ ISLAND HISTORICAL SOCIETY

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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

1975

Legal Domicile

Principal Officer

TERRY LARSON

Phone

3604682049

Tax Period

2024-01-01 to 2024-12-31

LOPEZ ISLAND HISTORICAL SOCIETY, founded in 1975, is a small nonprofit that reported $154K in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Expenses of $189K exceeded revenue, resulting in a 22% operating deficit.

Mission

OPERATION OF HISTORICAL MUSEUM DESIGNED TO COLLECT, PRESERVE, SHARE, AND INTERPRET THE LOCAL HISTORY OF LOPEZ ISLAND.

Program Service Accomplishments

Program 1

Expenses: $159,324

OPERATION OF HISTORICAL MUSEUM FOR LOPEZ ISLAND; ORGANIZER OF HISTORICAL CULTURAL ACTIVITIES; PRODUCTION OF HISTORICAL EXHIBITS.

Program 2

Expenses: $12,734 Revenue: $6,670

OPERATION OF HISTORICAL SITE KNOWN AS PORT STANLEY SCHOOL. RESTORATION COMPLETED 2004. USED AS A VENUE FOR COMMUNITY EVENTS & EXHIBITS. PARTIAL USE AS SCHOOL CLASSROOM STARTING 2015

Program 3

Expenses: $806 Revenue: $350

COMMUNITY OUTREACH TO EXPAND PUBLIC KNOWLEDGE OF LOCAL HISTORY. INCLUDES REPRODUCTION OF COLLECTION PHOTOGRAPHS, SALE OF BOOKS RELATED TO LOCAL HISTORY, LOCAL HISTORY NEWSLETTER, AND LOCAL HISTORY...

COMMUNITY OUTREACH TO EXPAND PUBLIC KNOWLEDGE OF LOCAL HISTORY. INCLUDES REPRODUCTION OF COLLECTION PHOTOGRAPHS, SALE OF BOOKS RELATED TO LOCAL HISTORY, LOCAL HISTORY NEWSLETTER, AND LOCAL HISTORY CONNECT ON SOCIAL MEDIA PLATFORMS.

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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 $143,189

Program Service Revenue $7,020

Investment Income $2,880

Other Revenue $1,163

TOTAL REVENUE $154,252

Expense Breakdown

Grants Paid $0

Salaries & Benefits $131,388

Fundraising Expenses $2,736

Program Expenses $172,864

Other Expenses $57,567

TOTAL EXPENSES $188,955

Year-over-Year Comparison

	2024	2023	Change
Revenue	$154,252	$203,856	-0.2%
Expenses	$188,955	$164,044	+0.2%
Net Income	$-34,703	$39,812	-1.9%

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

$69,191

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMY FROST	EXECUTIVE DI	40.00	Officer	$69,191	$0	$69,191
NANCY EWERT	TRUSTEE	0.05	Director	$0	$0	$0
THOMAS MISA	TRUSTEE	0.05	Director	$0	$0	$0
LARRY CHOCHRAN	TRUSTEE	0.05	Director	$0	$0	$0
BRETT JENSEN	TRUSTEE	2.50	Director	$0	$0	$0
CHERYL HARLAN	TURSTEE	2.00	Director	$0	$0	$0
JOSH EIDE	COMMITTEE CH	0.05	Director	$0	$0	$0
PAUL HEINRIKSEN	COMMITTEE CH	3.00	Director	$0	$0	$0
JACK PEDIGO	SECRETARY	1.00	Officer Director	$0	$0	$0
MARY FAGERHOLM-REECE	PRESIDENT	3.00	Officer Director	$0	$0	$0
JOE SCHWANKLE	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
TERRY LARSON	TREASURER	2.00	Officer 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	No data	No data	No data	No data
2024	$154,252	$188,955	$626,542	$-34,703
2023	$203,856	$164,044	$670,304	$39,812
2022	$125,474	$135,231	$625,136	$-9,757
2021	$105,004	$118,692	$633,099	$-13,688
2020	$103,374	$94,441	$647,070	$8,933
2019	$92,344	$111,870	$636,183	$-19,526
2018	$131,099	$103,668	$653,523	$27,431