BENZIE AREA 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

1969

Legal Domicile

Principal Officer

PHYLLIS KLADDER

Phone

2318825539

Tax Period

2025-01-01 to 2025-12-31

BENZIE AREA HISTORICAL SOCIETY, founded in 1969, is a small nonprofit that reported $488K in total revenue in fiscal year 2025. Revenue decreased 8% compared to the prior year. The organization ran a surplus of $297K, a strong 61% operating margin.

Mission

TO PRESERVE THE HISTORY OF BENZIE COUNTY WITH ARTIFACTS, PROGRAMS AND ONLINE ACCESS TO GENEOLOGICAL RECORDS.

Program Service Accomplishments

Program 1

Expenses: $159,157 Revenue: $24,132

TO EDUCATE THE PUBLIC ABOUT BENZIE COUNTY HISTORY AND MAINTAIN HISTORICAL ITEMS.

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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 $464,337

Program Service Revenue $10,146

Investment Income $13,073

Other Revenue $913

TOTAL REVENUE $488,469

Expense Breakdown

Grants Paid $0

Salaries & Benefits $59,747

Fundraising Expenses $1,627

Program Expenses $159,157

Other Expenses $131,849

TOTAL EXPENSES $191,596

Year-over-Year Comparison

	2025	2024	Change
Revenue	$488,469	$532,447	-0.1%
Expenses	$191,596	$184,415	+0.0%
Net Income	$296,873	$348,032	-0.1%

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

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
LARRY WHITE	PRESIDENT	20.00	Officer Director	$0	$0	$0
STEVE VEATCH	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
JOHN COLLINS	SECRETARY	10.00	Officer Director	$0	$0	$0
PHYLLIS KLADDER	TREASURER	3.00	Officer Director	$0	$0	$0
JERRY HEIMAN	DIRECTOR	3.00	Director	$0	$0	$0
LINDA WOOD	DIRECTOR	1.50	Director	$0	$0	$0
DAVE REID	DIRECTOR	7.50	Director	$0	$0	$0
TIM FOSTER	DIRECTOR	1.50	Director	$0	$0	$0
JANE FREELAND-GERSCHICK	DIRECTOR	1.50	Director	$0	$0	$0
CHARLES KRAUS	DIRECTOR	1.50	Director	$0	$0	$0
STACY DANIELS	DIRECTOR	1.25	Director	$0	$0	$0
MERCEDES BOWYER	DIRECTOR	2.00	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	$488,469	$191,596	$2,004,645	$296,873
2024	$532,447	$184,415	$1,564,987	$348,032
2023	$141,752	$165,954	$1,194,140	$-24,202
2022	$136,597	$194,368	$1,172,515	$-57,771
2021	$529,982	$208,503	$1,313,975	$321,479
2020	$623,566	$121,147	$998,900	$502,419