IRONS AREA TOURIST ASSOCIATION

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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

1975

Legal Domicile

Principal Officer

CHRISTINA HINKEN

Tax Period

2023-09-01 to 2024-08-31

IRONS AREA TOURIST ASSOCIATION, founded in 1975, is a small nonprofit that reported $468K in total revenue in fiscal year 2023. Revenue surged 302% from the prior year, signaling strong growth momentum. The organization ran a surplus of $304K, a strong 65% operating margin.

Mission

TO PROMOTE TOURISM AND COMMUNITY DEVELOPMENT

Program Service Accomplishments

Program 1

Expenses: $157,724

THE ASSOCIATION MAINTAINS A 52.5 ACRE PARK FOR USE BY RESIDENTS AND TOURISTS ALIKE. THE ASSOCIATION ALSO MAINTAINS & GROOMS OVER 100 MILES OF SNOWMOBILE & ORV TRAILS. WE GROOMED 210 MILES OF...

THE ASSOCIATION MAINTAINS A 52.5 ACRE PARK FOR USE BY RESIDENTS AND TOURISTS ALIKE. THE ASSOCIATION ALSO MAINTAINS & GROOMS OVER 100 MILES OF SNOWMOBILE & ORV TRAILS. WE GROOMED 210 MILES OF SNOWMOBILE TRAILS AND GRADED 2304 MILES OF ORV TRAILS THE LAST FISCAL YEAR. THE PARK IS OPEN ALL YEAR FOR THE USE OF THE BALLFIELD, VOLLEYBALL COURT, CHILDRENS PLAYGROUND AND PAVILION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $462,061

Program Service Revenue $0

Investment Income $1,856

Other Revenue $4,539

TOTAL REVENUE $468,456

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $157,724

Other Expenses $164,470

TOTAL EXPENSES $164,470

Year-over-Year Comparison

	2023	2022	Change
Revenue	$468,456	$116,409	+3.0%
Expenses	$164,470	$141,093	+0.2%
Net Income	$303,986	$-24,684	-13.3%

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

N/A

Volunteers

170

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
SONDRA YOUNG	TRUSTEE	1.00	Director	$0	$0	$0
JEFF ROBERTS	TRUSTEE	4.00	Director	$0	$0	$0
LORETTA WIERENGA	TREASURER	6.00	Officer	$0	$0	$0
RHONDA GILL	SECRETARY	4.00	Officer	$0	$0	$0
CHRISTINA HINKEN	PRESIDENT	3.00	Officer	$0	$0	$0
BRIDGET PLAFKIN	INTERNAL VICE PRESIDENT	2.00	Officer	$0	$0	$0
LARRY HINKIN	EXTERNAL VICE PRESIDENT	4.00	Officer	$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	$468,456	$164,470	$619,381	$303,986
2023	$116,409	$141,093	$317,647	$-24,684
2022	$166,062	$144,913	$323,251	$21,149
2021	$109,650	$96,163	$303,905	$13,487
2020	$83,634	$97,794	$293,647	$-14,160
2019	$144,464	$146,090	$329,792	$-1,626
2018	$123,908	$114,418	$326,562	$9,490