KEWEENAW TOURISM COUNCIL

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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

1985

Legal Domicile

Principal Officer

JULIE SPRENGER

Phone

9063374579

Tax Period

2024-10-01 to 2025-09-30

KEWEENAW TOURISM COUNCIL, founded in 1985, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2024. Expenses of $1.5M left a modest 8% surplus.

Mission

KEWEENAW TOURISM COUNCIL PROMOTES MICHIGANS HOUGHTON AND KEWEENAW COUNTIES AS A DESTINATION FOR TOURISM. TOURISM, AND THE BROADER VISITOR ECONOMY, GENERATES SOCIAL, CULTURAL, AND FINANCIAL BENEFITS FOR OUR COMMUNITY MEMBERS AND IS A PILLAR OF THE REGIONS ECONOMY.

Program Service Accomplishments

Program 1

Expenses: $1,364,228

SERVICE TO LOCAL AREA MOTEL AND TOURIST OPERATORS BY ADVERTISING PROMOTION OF YEAR ROUND TOURISM. CONDUCT REGIONAL EVENTS AND ACTIVITIES FOR ATTRACTING VISITORS.

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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 $1,572,592

Program Service Revenue $0

Investment Income $13,784

Other Revenue $25,316

TOTAL REVENUE $1,611,692

Expense Breakdown

Grants Paid $0

Salaries & Benefits $269,907

Fundraising Expenses $0

Program Expenses $1,364,228

Other Expenses $1,206,885

TOTAL EXPENSES $1,476,792

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,611,692	$1,546,024	+0.0%
Expenses	$1,476,792	$1,332,622	+0.1%
Net Income	$134,900	$213,402	-0.4%

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

$94,226

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOHN BARNETT	EXECUTIVE DI	40.00	Officer	$94,226	$0	$94,226
MARINA ALEXANDER	DIRECTOR	1.00	Director	$0	$0	$0
VERN BARBER	DIRECTOR	1.00	Director	$0	$0	$0
DEEANNA GARIEPY	TREASURER	2.00	Officer Director	$0	$0	$0
JENNIFER JULIEN	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
MICHAEL LAMOTTE	DIRECTOR	1.00	Director	$0	$0	$0
BENJAMIN LARSON	DIRECTOR	1.00	Director	$0	$0	$0
NICHOLE MCCLOSKEY	SECRETARY	1.00	Officer Director	$0	$0	$0
JASON MILLER	DIRECTOR	1.00	Director	$0	$0	$0
JULIE SPRENGER	PRESIDENT	2.50	Officer 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	$1,611,692	$1,476,792	$1,227,755	$134,900
2024	$1,546,024	$1,332,622	$1,084,029	$213,402
2023	$1,219,952	$1,044,284	$801,438	$175,668
2022	$1,071,971	$773,415	$629,559	$298,556
2021	$407,787	$487,158	$313,605	$-79,371
2020	$322,669	$393,478	$351,719	$-70,809
2019	$414,407	$355,404	$432,176	$59,003