TRAVERSE AREA RECREATION & TRANSPO… - Form 990 Financial Data

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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

1992

Legal Domicile

Principal Officer

JULIE CLARK

Phone

2319414300

Tax Period

2024-10-01 to 2025-09-30

TRAVERSE AREA RECREATION & TRANSPORTATION TRAILS INC, founded in 1992, is a community nonprofit that reported $4.7M in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.2M, a strong 48% operating margin.

Mission

TO BRING TRAILS TO LIFE.

Program Service Accomplishments

Program 1

Expenses: $2,003,640

DURING THE YEAR TART ADVANCED MAJOR CAPITAL AND PROGRAMMATIC INITIATIVES TO EXPAND AND STRENGTHEN THE REGIONAL TRAIL NETWORK. SIGNIFICANT EXPENSES SUPPORTED THE ACQUISITION OF KEY PROPERTIES TO...

DURING THE YEAR TART ADVANCED MAJOR CAPITAL AND PROGRAMMATIC INITIATIVES TO EXPAND AND STRENGTHEN THE REGIONAL TRAIL NETWORK. SIGNIFICANT EXPENSES SUPPORTED THE ACQUISITION OF KEY PROPERTIES TO SECURE PUBLIC ACCESS AND LONG-TERM TRAIL INFRASTRUCTURE, INCLUDING PROPERTY IN TORCH LAKE TOWNSHIP, ANTRIM COUNTY, TO ESTABLISH A CRITICAL TRAILHEAD, AND PROPERTY IN LEELANAU COUNTY ALONG THE LEELANAU TRAIL TO SERVE AS A TRAILHEAD AND MAINTENANCE HUB WITH ACQUISITION COSTS OF $526,423. TART ALSO MADE SUBSTANTIAL PROGRESS ON THE THREE-MILE TRAIL PROJECT THROUGH PLANNING, ENGINEERING, AND PARTNERSHIP COORDINATION, POSITIONING THE PROJECT FOR FUTURE IMPLEMENTATION. LOOKING AHEAD, TART WILL CONTINUE INVESTING IN TRAIL CONSTRUCTION AND ACTIVATION OF NEWLY ACQUIRED PROPERTIES TO EXPAND ACCESS AND COMMUNITY CONNECTION.

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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 $4,422,050

Program Service Revenue $0

Investment Income $199,145

Other Revenue $34,377

TOTAL REVENUE $4,655,572

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,325,957

Fundraising Expenses $161,546

Program Expenses $2,003,640

Other Expenses $1,097,414

TOTAL EXPENSES $2,423,371

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,655,572	$3,851,307	+0.2%
Expenses	$2,423,371	$2,213,882	+0.1%
Net Income	$2,232,201	$1,637,425	+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

386

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

$134,089

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MEG ACKERMAN	PRESIDENT	4.00	Officer Director	$0	$0	$0
LINDA CLINE	TREASURER	4.00	Officer Director	$0	$0	$0
JESSICA ALPERS	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
HEATHER JORDAN	SECRETARY	2.00	Officer Director	$0	$0	$0
ROSS HAMMERSLEY	PAST PRESIDENT	4.00	Director	$0	$0	$0
NAN RAY	MEMBER AT LARGE	2.00	Director	$0	$0	$0
RICK SIMONTON	DIRECTOR	2.00	Director	$0	$0	$0
TARA HOCHSTETLER	DIRECTOR	2.00	Director	$0	$0	$0
PAUL BUSSEY	DIRECTOR	2.00	Director	$0	$0	$0
RUSS SOYRING	DIRECTOR	2.00	Director	$0	$0	$0
MATT MCDONOUGH	DIRECTOR	2.00	Director	$0	$0	$0
JULIE CLARK	CHIEF EXECUTIVE OFFICER	40.00	Officer	$126,008	$8,081	$134,089
CASEY RESSL	DEVELOPMENT DIRECTOR	40.00	Highest	$109,756	$5,556	$115,312

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	$4,655,572	$2,423,371	$10,081,348	$2,232,201
2024	$3,851,307	$2,213,882	$9,679,436	$1,637,425
2023	$1,978,765	$2,192,913	$8,012,034	$-214,148
2022	$2,931,318	$2,188,471	$8,125,074	$742,847
2021	$1,680,863	$1,334,399	$8,344,732	$346,464
2020	$2,463,172	$1,332,754	$6,609,457	$1,130,418
2019	$978,151	$1,473,067	$4,555,555	$-494,916
2018	$1,461,865	$792,554	$4,073,990	$669,311

TRAVERSE AREA RECREATION & TRANSPORTATION TRAILS INC