BEAVER ISLAND HISTORICAL SOCIETY O… - 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

1957

Legal Domicile

Principal Officer

ANGELA LEFEVRE-WELKE

Phone

2314482254

Tax Period

2023-11-01 to 2024-10-31

BEAVER ISLAND HISTORICAL SOCIETY OF MICHIGAN, founded in 1957, is a small nonprofit in the Arts, Culture & Humanities sector that reported $347K in total revenue in fiscal year 2023. Revenue surged 32% from the prior year, signaling strong growth momentum. Net assets of $951K represent 33 months of operating reserves.

Mission

THE BEAVER ISLAND HISTORICAL SOCIETY HAS A MISSION TO "SHARE AND PRESERVE THE UNIQUE HISTORY OF BEAVER ISLAND AND THE ARCHIPELAGO". WE ADVANCE OUR MISSION THROUGH WELL MAINTAINED COLLECTIONS AND WELL-ARTICULATED EXHIBITS IN OUR CLEAN AND WELL CARED FOR PRINT SHOP MUSEUM AND MARINE MUSEUM, IN ADDITION TO OUR TWO HISTORIC PROPERTIES, THE HERITAGE PARK AND THE PROTAR HOME. WE OFFER SEVERAL RESOURCES AND SERVICES TO OUR VISITORS, INCLUDING GENEALOGICAL RESEARCH, COPIES OF ARCHIVAL PHOTOS AND A SERIES OF HISTORICAL JOURNALS, A MONTHLY PUBLICATION, AN ANNUAL ARTS AND CULTURE MAGAZINE AND OTHER HISTORICAL THEMED BOOKS FOR PURCHASE. ADDITIONALLY, WE HOST MANY EVENTS THROUGHOUT THE YEAR ALIGNING WITH BEAVER ISLAND'S CULTURAL LANDSCAPE. MUSEUM WEEK AND KIDS CAMP ARE OUR MOST POPULAR EVENTS. THE BEAVER ISLAND HISTORICAL VALUES: FINANCIAL SUSTAINABILITY COMMUNITY CLOSE INTERPERSONAL RELATION EMPHASIS ON EDUCATION KNOWLEDGE AND EXPERTISE QUALITY EXHIBITS HISTORIC PRESERVATIONS TRADITIONAL VALUES CO

Program Service Accomplishments

Program 1

Expenses: $228,938 Revenue: $4,576

THE HISTORICAL SOCIETY CURRENTLY OPERATES TWO MUSEUMS ON THE ISLAND, THE PRINT SHOP MUSEUM AND THE MARINE MUSEUM, AS WELL AS TWO ADDITIONAL HISTORICAL SITES, HERITAGE PARK AND THE PROTAR HOME. IN...

THE HISTORICAL SOCIETY CURRENTLY OPERATES TWO MUSEUMS ON THE ISLAND, THE PRINT SHOP MUSEUM AND THE MARINE MUSEUM, AS WELL AS TWO ADDITIONAL HISTORICAL SITES, HERITAGE PARK AND THE PROTAR HOME. IN ADDITION, WE OFFER SEVERAL HISTORICAL RESOURCES TO OUR VISITORS, INCLUDING GENEALOGICAL RESEARCH, COPIES OF ARCHIVAL PHOTOS, AND A SERIES OF HISTORICAL JOURNALS AND OTHER HISTORICAL THEMED BOOKS FOR PURCHASE. ADDITIONALLY, WE HOST MANY EVENTS THROUGHOUT THE YEAR TO PROMOTE THE ISLAND'S UNIQUE HISTORY. WE ALSO PUBLISH THE NORTHERN ISLANDER, OUR COMMUNITY'S MONTHLY PUBLICATION AND AN ANNUAL ARTS AND CULTURE MAGAZINE, THE BEAVER BEACON.

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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 $247,217

Program Service Revenue $4,576

Investment Income $408

Other Revenue $94,890

TOTAL REVENUE $347,091

Expense Breakdown

Grants Paid $0

Salaries & Benefits $158,646

Fundraising Expenses $11,554

Program Expenses $228,938

Other Expenses $197,450

TOTAL EXPENSES $356,096

Year-over-Year Comparison

	2023	2022	Change
Revenue	$347,091	$262,818	+0.3%
Expenses	$356,096	$326,793	+0.1%
Net Income	$-9,005	$-63,975	-0.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANGELA LEFEVRE-WELKE	PRESIDENT	2.00	Officer Director	$0	$0	$0
TRACY PAQUIN	VICE-PRESIDE	2.00	Officer Director	$0	$0	$0
SUE SCREVEN	SECRETARY	2.00	Officer Director	$0	$0	$0
JACQUE LAFRENIERE	TREASURER	N/A	Officer Director	$0	$0	$0
GEORGE BRODER	TRUSTEE	2.00	Director	$0	$0	$0
ALAN VICSTEIN	TRUSTEE	2.00	Director	$0	$0	$0
CRAIG TURNBALL	TRUSTEE	2.00	Director	$0	$0	$0
KIM BOUSQUET	TRUSTEE	2.00	Director	$0	$0	$0
JOE CALLIAN	TRUSTEE	2.00	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	No data	No data	No data	No data
2024	$347,091	$356,096	$1,023,088	$-9,005
2023	$262,110	$326,793	$1,029,065	$-64,683
2023	$262,110	$326,793	$1,054,659	$-64,683
2022	$227,801	$174,261	$1,087,623	$53,540
2021	$233,154	$260,628	$1,024,485	$-27,474
2020	$212,289	$128,530	$1,065,872	$83,759
2019	$122,441	$121,778	$906,742	$663
2018	$128,245	$90,599	$906,313	$37,646

BEAVER ISLAND HISTORICAL SOCIETY OF MICHIGAN