WESTERN MINNESOTA STEAM THRESHERS … - 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

1960

Legal Domicile

Principal Officer

DUANE HALVORSRUD

Phone

2189375316

Tax Period

2022-01-01 to 2022-12-31

WESTERN MINNESOTA STEAM THRESHERS REUNION INC, founded in 1960, is a small nonprofit that reported $681K in total revenue in fiscal year 2022. Expenses of $638K left a modest 6% surplus.

Mission

WESTERN MINNESOTA STEAM THRESHERS REUNION, INC. IS ORGANIZED FOR THE PURPOSE OF: A. PROVIDING AN OPPORTUNITY FOR PERSONS TO ANNUALLY GATHER TO RENEW FRIENDSHIPS, RELIVE THE PAST OF THE NORTHERN PLAINS AND HONOR THE PIONEERS WHO SETTLED THIS REGION; B. ACQUIRING, PRESERVING AND RESTORING ANTIQUE ITEMS FROM THIS REGION FOR THE PURPOSE OF DEMONSTRATING THEIR USE; AND C. PROVIDING A SETTING FOR PEOPLE TO PERFORM THE ACTIVITIES, CRAFTS, AND MUSIC OF THE PIONEER DAYS.

Program Service Accomplishments

Program 1

Expenses: $526,850 Revenue: $414,847

THE PROGRAM SERVICE ACTIVITY IS THE ANNUAL FOUR(4) DAY EARLY 20TH CENTURY ERA EXHIBITION WHICH FOCUSES ON FARMING, LUMBER MILLING, RAILROADING, AND STEAM POWER.

Program 2

Revenue: $3,999

EDUCATIONAL OPPORTUNITIES: UNIVERSITY OF ROLLAG STEAM SCHOOL IS HELD FATHERS DAY WEEKEND EACH YEAR AT STEAMER HILL. IT IS A TWO-DAY COURSE DESIGNED TO PROVIDE THE FUNDAMENTAL TRAINING, BOTH HANDS ON, AND CLASSROOM TO PREPARE NEW (OR NOT SO NEW) STEAM ENTHUSIASTS TO BE SAFE OPERATORS, AND PROVIDE IMPORTANT INFORMATION TO AID THEM IN PREPARATION FOR THEIR MN HOBBY BOILERS EXAM. DURING THE COURSE, YOU WILL LEARN THE KEY POINTS TO SAFELY OPERATE A STEAM ENGINE, AND ALSO LEARN THE HISTORY AND INNER WORKINGS OF THE ENGINES. IN ADDITION, THERE ARE HANDS-ON SESSIONS EACH DAY WITH OUR VETERAN OPERATORS TO ANSWER QUESTIONS AND PROVIDE SOME TIME ON AN ENGINE TO LEARN HOW THEY WORK. STUDENTS HAVE THE ABILITY TO PRACTICE ON THE PRONY BRAKE, RUN AN OBSTACLE COURSE AND GET UP CLOSE AND PERSONAL WITH THE ENGINES. WHILE THE COURSE DOES NOT SATISFY ALL THE MN STATE REQUIREMENTS TO TAKE YOUR TEST, IT IS A SOLID FOUNDATION ON WHICH TO BUILD YOUR KNOWLEDGE FROM. WMSTR IS THE ONLY TRAINING APPROVED BY THE STATE OF MINNESOTA NOT PROVIDED BY A STATE- RUN ENTITY

Program 3

EDUCATIONAL OPPORTUNITIES: ROLLAGOLOGY SATURDAY AND SUNDAY MORNING 4-HOUR CLASSES 1. PRAIRIE TRACTORS, GIANTS PRE-1920 2. MACHINE SHOP OPERATIONS 3. DRAFT HORSES AND HORSEPOWER AREA ACTIVITIES THIS IS A LIST OF THE SATURDAY AFTERNOON 2-HOUR CLASSES: 1. SAFE HAND CRANKING INTERNAL COMBUSTION ENGINES 2. ICE CREAM MAKING AND SCOOPING 3. DRILL BIT SHARPENING

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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 (2022)

Revenue Breakdown

Contributions & Grants $36,756

Program Service Revenue $418,846

Investment Income $693

Other Revenue $225,106

TOTAL REVENUE $681,401

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $526,850

Other Expenses $638,103

TOTAL EXPENSES $638,103

Year-over-Year Comparison

	2022	2021	Change
Revenue	$681,401	$632,902	+0.1%
Expenses	$638,103	$460,196	+0.4%
Net Income	$43,298	$172,706	-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

N/A

Volunteers

N/A

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
DUANE HALVORSRUD	PRESIDENT	1.00	Officer Director	$0	$0	$0
ROGER MEYER	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
DON THIEL	SECRETARY	1.00	Officer Director	$0	$0	$0
SHELLY DILLON	TREASURER	2.00	Officer Director	$0	$0	$0
RAY WANGLER	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW MEYER	DIRECTOR	1.00	Director	$0	$0	$0
JOHN LOUIE LARSON	DIRECTOR	1.00	Director	$0	$0	$0
ANDY MAUNDT	DIRECTOR	1.00	Director	$0	$0	$0
KERRY BRISS	DIRECTOR	1.00	Director	$0	$0	$0
TRACY GRIFFIS	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW NELSON	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG MATTSON	DIRECTOR	1.00	Director	$0	$0	$0
TODD HINTZ	DIRECTOR	1.00	Director	$0	$0	$0
ROXANNE MORKEN	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
2022	$681,401	$638,103	$3,073,334	$43,298
2021	$632,902	$460,196	$3,053,153	$172,706
2020	$160,476	$241,934	$2,909,194	$-81,458
2020	$19,961	$44,241	$2,884,914	$-24,280
2019	$1,165,488	$857,770	$2,905,484	$307,718
2018	$499,936	$459,514	$2,625,356	$40,422

WESTERN MINNESOTA STEAM THRESHERS REUNION INC