Friends of the Sleeping Bear Dunes

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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

1994

Legal Domicile

Principal Officer

Patricia Ray

Phone

2318826981

Tax Period

2024-10-01 to 2025-09-30

Friends of the Sleeping Bear Dunes, founded in 1994, is a small nonprofit in the Environment sector that reported $525K in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. Expenses of $475K left a modest 10% surplus.

Mission

Our mission is to protect resources and heighten visitor experience in partnership with Sleeping Bear Dunes National Lakeshore.

Program Service Accomplishments

Program 1

Expenses: $180,001 Revenue: $7,310

Trails and Accessibility: Provide track chairs and wheelchair-accessible bicycles with volunteer support, serving more than 60 individuals and their families.Trail maintenance - Volunteers maintain over 105 miles of trails, including the Heritage Trail, throughout Sleeping Bear Dunes National Lakeshore.Preventive Search & Rescue - Volunteers engage with visitors to promote safe decision-making and reduce the risk of emergencies.

Program 2

Expenses: $50,216

Habitat and Wildlife Protection:Piping Plover protection - Monitoring, protecting nesting sites, and invasive species plant removal from nesting sites."Adopt - A -" Programs - Beach, trail, river...

Habitat and Wildlife Protection:Piping Plover protection - Monitoring, protecting nesting sites, and invasive species plant removal from nesting sites."Adopt - A -" Programs - Beach, trail, river, and highway clean-up to keeping the park in its natural state.Black Bear Study - Funding from Friends enables researchers to gather data to better understand the size and distribution of the Park's black bear population.

Program 3

Expenses: $92,202 Revenue: $1,447

Education and Visitor Experience:Raising funds for children's education programs run by the Park including sharing star stories, winter experience snowshoe trips, and Sleeping Bear from below - an...

Education and Visitor Experience:Raising funds for children's education programs run by the Park including sharing star stories, winter experience snowshoe trips, and Sleeping Bear from below - an underwater film designed to project in a planetarium dome. Providing free educational booklets and trail maps to 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 $509,713

Program Service Revenue $1,447

Investment Income $14,002

Other Revenue $0

TOTAL REVENUE $525,162

Expense Breakdown

Grants Paid $76,369

Salaries & Benefits $112,491

Fundraising Expenses $92,299

Program Expenses $322,419

Other Expenses $249,399

TOTAL EXPENSES $474,659

Year-over-Year Comparison

	2024	2023	Change
Revenue	$525,162	$419,888	+0.3%
Expenses	$474,659	$324,926	+0.5%
Net Income	$50,503	$94,962	-0.5%

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

300

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
Bonnie Bastian	Chair	10.00	Officer Director	$0	$0	$0
Rosemary Hagen	Vice-Chair	10.00	Officer Director	$0	$0	$0
William Ichord	Secretary	10.00	Officer Director	$0	$0	$0
Steve Klein	Treasurer	10.00	Officer Director	$0	$0	$0
Lynn Aleksov	Director	3.00	Director	$0	$0	$0
Joan Antle	Director	3.00	Director	$0	$0	$0
Suzanne Thelen	Director	3.00	Director	$0	$0	$0
Brennan Sang	Director	3.00	Director	$0	$0	$0
Natalia Szymczak	Director	3.00	Director	$0	$0	$0
Kerry Kelly	Past Chair	3.00	Director	$0	$0	$0
Gerald Peterson	Past Chair	3.00	Director	$0	$0	$0
Patricia Ray	Treasurer	10.00	Officer Director	$0	$0	$0
Mary Knebel	Director	3.00	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
2025	$525,162	$474,659	$498,755	$50,503
2024	$419,888	$324,926	$423,934	$94,962
2023	$287,772	$286,058	$328,333	$1,714
2022	$205,226	$181,789	$324,574	$23,437
2021	$197,651	$109,316	$300,076	$88,335