EMPIRE AREA HERITAGE GROUP

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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

1987

Legal Domicile

Principal Officer

LEIGH PAYMENT

Phone

2314095519

Tax Period

2025-01-01 to 2025-12-31

EMPIRE AREA HERITAGE GROUP, founded in 1987, is a micro nonprofit that reported $58K in total revenue in fiscal year 2025. Revenue decreased 17% compared to the prior year. The organization ran a surplus of $16K, a strong 28% operating margin.

Mission

COLLECT AND PRESERVE THE HISTORY OF LEELANAU COUNTY

Program Service Accomplishments

Program 1

Expenses: $26,926 Revenue: $2,381

TO COLLECT, PRESERVE AND INTERPRET THE HISTORY OF LEELANAU COUNTY AND TO OPERATE THE EMPIRE AREA MUSEUM.

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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 $34,610

Program Service Revenue $2,381

Investment Income $22,544

Other Revenue $-1,484

TOTAL REVENUE $58,051

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $603

Program Expenses $26,926

Other Expenses $41,986

TOTAL EXPENSES $41,986

Year-over-Year Comparison

	2025	2024	Change
Revenue	$58,051	$69,919	-0.2%
Expenses	$41,986	$28,209	+0.5%
Net Income	$16,065	$41,710	-0.6%

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

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
LEIGH PAYMENT	PRESIDENT	10.00	Officer	$0	$0	$0
MIKE BOLTON	VICE PRESIDE	2.00	Officer	$0	$0	$0
DIANE TAGHON	TREASURER	4.00	Officer	$0	$0	$0
BILL FREEMAN	SECRETARY	2.00	Officer	$0	$0	$0
BOB CHASE	CHIEF OPERAT	2.00	Officer	$0	$0	$0
DON MCNEW	INFORMATION	2.00	Officer	$0	$0	$0
LINDA PAYMENT	COMMUNICATIO	2.00	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
2025	$58,051	$41,986	$794,200	$16,065
2024	No data	No data	No data	No data
2023	$302,826	$13,356	$737,021	$289,470