CHERRYLAND HUMANE 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

1956

Legal Domicile

Principal Officer

BRUCE VARGO

Phone

2319465116

Tax Period

2024-01-01 to 2024-12-31

CHERRYLAND HUMANE SOCIETY, founded in 1956, is a community nonprofit in the Animal-Related sector that reported $4.0M in total revenue in fiscal year 2024. Revenue surged 91% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.2M, a strong 55% operating margin.

Mission

PROVIDE A SAFE HARBOR FOR THE ANIMALS ENTRUSTED TO US AS WE STRIVE TO FIND THEM RESPONSIBLE, LOVING AND PERMANENT HOMES WHILE ADVANCING THE WELL-BEING OF ANIMALS.

Program Service Accomplishments

Program 1

Expenses: $805,753 Revenue: $125,952

AS THE ONLY ANIMAL SHELTER IN GRAND TRAVERSE COUNTY AND LEELANAU COUNTY, CHERRYLAND HUMANE SOCIETY (CHS) HAS BEEN PROVIDING CARE FOR THE LOST, UNWANTED AND ABUSED ANIMALS IN OUR COMMUNITY SINCE 1956. WE ARE DEDICATED TO PROVIDING A SAFE HAVEN FOR ANIMALS IN NEED WHILE SEEKING OUT LOVING, PERMANENT HOMES FOR THE ANIMALS IN OUR CARE. ALL ADOPTED ANIMALS ARE SPAY/NEUTERED PRIOR TO JOINING THEIR NEW FAMILY.

Program 2

Expenses: $630,414 Revenue: $372,040

THRIFT STORE - PROFITS FROM THE SALE OF DONATED GOODS FROM THE CHS THRIFT STORE HELP TO FUND THE MISSION OF CHS. ADOPTABLE ANIMALS ARE DISPLAYED ON SCREENS THROUGHOUT THE STORE AND ON FLYERS IN THE DRESSING ROOMS. THE THRIFT STORE ALSO OFFERS DOGGY DAY OUTS PERIODICALLY THROUGHOUT THE YEAR.

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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 $3,377,166

Program Service Revenue $109,045

Investment Income $146,954

Other Revenue $400,616

TOTAL REVENUE $4,033,781

Expense Breakdown

Grants Paid $0

Salaries & Benefits $859,740

Fundraising Expenses $172,612

Program Expenses $1,436,167

Other Expenses $898,457

TOTAL EXPENSES $1,804,639

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,033,781	$2,114,561	+0.9%
Expenses	$1,804,639	$1,678,363	+0.1%
Net Income	$2,229,142	$436,198	+4.1%

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

280

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

$105,607

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LINDA BUTKA	TREASURER	2.00	Officer Director	$0	$0	$0
BRUCE VARGO	PRESIDENT	2.00	Officer Director	$0	$0	$0
ERIN O'MALLEY	SECRETARY	2.00	Officer Director	$0	$0	$0
JEN LOUP	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL TOPP	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
JOHN HUGHES	DIRECTOR	2.00	Director	$0	$0	$0
BETSY VANWESTEN	DIRECTOR	2.00	Director	$0	$0	$0
ED GIRRBACH	DIRECTOR	2.00	Director	$0	$0	$0
HEIDI YATES	EXECUTIVE DIRECTOR	40.00	Officer	$102,159	$3,448	$105,607

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	$4,033,781	$1,804,639	$6,875,091	$2,229,142
2023	$2,114,561	$1,678,363	$4,694,468	$436,198
2022	$2,224,678	$1,493,747	$4,221,984	$730,931
2021	$1,636,012	$1,118,071	$3,346,521	$517,941
2020	$1,303,727	$749,012	$2,816,506	$554,715
2019	$903,286	$692,863	$2,300,631	$210,423
2018	$989,948	$632,371	$2,334,521	$357,577