HEARTLAND MUSEUM OF MILITARY VEHICL (EIN 363630011) - 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

1986

Legal Domicile

Principal Officer

ASHLEY LARSEN

Phone

3083246329

Tax Period

2025-01-01 to 2025-12-31

HEARTLAND MUSEUM OF MILITARY VEHICL, founded in 1986, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $84K in total revenue in fiscal year 2025. Expenses of $140K exceeded revenue, resulting in a 66% operating deficit.

Mission

TO DEVELOP A PLACE TO HONOR AMERICA'S VETERANS OF THE BATTLEFRONT AND THE HOME FRONT. THE MUSEUM OFFERS VETERANS A PLACE TO REMEMBER, WHERE THEY CAN TOUCH AND SMELL AND SIT IN THE VERY VEHICLES, WHICH, IN SOME CASES, MAY HAVE SAVED THEIR LIVES. THE MUSEUM IS DEDICATED TO THE RESTORATION AND PRESERVATION OF HISTORICAL MILITARY EQUIPMENT O FALL TYPES AND THE PROMOTION OF PUBLIC KNOWLEDGE ABOUT THE VEHICLES AND OTHER MILITARY MEMORABILIA ON DISPLAY.

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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 $84,272

Program Service Revenue $0

Investment Income $143

Other Revenue $0

TOTAL REVENUE $84,415

Expense Breakdown

Grants Paid $0

Salaries & Benefits $38,754

Fundraising Expenses $0

Program Expenses $101,349

Other Expenses $101,349

TOTAL EXPENSES $140,103

Year-over-Year Comparison

	2025	2024	Change
Revenue	$84,415	$88,545	0.0%
Expenses	$140,103	$103,109	+0.4%
Net Income	$-55,688	$-14,564	+2.8%

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

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
ASHLEY LARSEN	TREASURER	1.00	Officer Director	$0	$0	$0
CHRIS LARSEN	SFO	2.00	Director	$0	$0	$0
TERRY LAUBY	PRESIDENT	1.00	Officer Director	$0	$0	$0
ALBERT MARTIN	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
DAVID SMITH	SECRETARY	1.00	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	$84,415	$140,103	$1,329,067	$-55,688
2024	$88,545	$103,109	$1,384,755	$-14,564
2023	$75,149	$100,336	$1,399,319	$-25,187
2022	$87,713	$101,605	$1,424,506	$-13,892
2021	$56,060	$95,103	$1,439,136	$-39,043
2020	$39,445	$89,780	$1,478,117	$-50,335

HEARTLAND MUSEUM OF MILITARY VEHICL