IRON COUNTY HISTORICAL AND MUSEUM SOCIETY (EIN 381941922) - 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

1964

Legal Domicile

Principal Officer

KATHLENE LONG

Phone

9062652617

Tax Period

2024-01-01 to 2024-12-31

IRON COUNTY HISTORICAL AND MUSEUM SOCIETY, founded in 1964, is a small nonprofit in the Arts, Culture & Humanities sector that reported $180K in total revenue in fiscal year 2024. Expenses of $230K exceeded revenue, resulting in a 28% operating deficit.

Mission

TO MAINTAIN AND DEVELOP A MUSEUM IN IRON COUNTY, MI. TO COLLECT,HOUSE AND PRESERVE ARTIFACTS IN INTREPRTIVE EXHIBITS, WHICH WILL SHOW THE ECONOMIC, OCCUPATIONAL, SOCIAL AND CULTURAL DEVELOPMENT OF IRON COUNTY AND ITS RELATIONSHIP TO THE PRESENT.

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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 $141,416

Program Service Revenue $17,888

Investment Income $5,854

Other Revenue $15,142

TOTAL REVENUE $180,300

Expense Breakdown

Grants Paid $0

Salaries & Benefits $121,355

Fundraising Expenses $0

Program Expenses $147,609

Other Expenses $108,633

TOTAL EXPENSES $229,988

Year-over-Year Comparison

	2024	2023	Change
Revenue	$180,300	$177,403	+0.0%
Expenses	$229,988	$186,860	+0.2%
Net Income	$-49,688	$-9,457	+4.3%

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
MARY BJORK	TRUSTEE	1.00	Director	$0	$0	$0
BRENDA GRUBBS	TRUSTEE	1.00	Director	$0	$0	$0
JEANNIE HOLM	TRUSTEE	1.00	Director	$0	$0	$0
JOCELYN JAVOROSKI	SECRETARY	1.00	Officer Director	$0	$0	$0
DENISE MALONEY	PRESIDENT	1.00	Officer Director	$0	$0	$0
SANDIE NIES	TRUSTEE	1.00	Director	$0	$0	$0
SHARON RYDEN	TRUSTEE	1.00	Director	$0	$0	$0
BARRY SCALCUCCI	TREASURER	1.00	Officer Director	$0	$0	$0
JASON SMEDLUND	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
BARB WAARA	TRUSTEE	1.00	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
2024	$180,300	$229,988	$567,331	$-49,688
2023	$177,403	$186,860	$605,347	$-9,457
2022	$201,974	$231,025	$601,043	$-29,051
2021	$165,687	$162,102	$632,514	$3,585
2020	$148,733	$128,758	$641,135	$19,975
2019	$180,910	$144,632	$608,635	$36,278
2018	$143,293	$125,310	$572,739	$17,983

IRON COUNTY HISTORICAL AND MUSEUM SOCIETY