BAYFIELD HERITAGE ASSOCIATION INC

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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

1977

Legal Domicile

Principal Officer

JERRY PHILLIPS

Phone

7157795958

Tax Period

2025-01-01 to 2025-12-31

BAYFIELD HERITAGE ASSOCIATION INC, founded in 1977, is a small nonprofit in the Arts, Culture & Humanities sector that reported $240K in total revenue in fiscal year 2025. Revenue fell 42% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $51K, a strong 21% operating margin.

Mission

TO COLLECT AND PRESERVE HISTORICAL ARCHIVAL MATERIALS AND RELATED ARTIFACTS OF THE CITY OF BAYFIELD AND THE SURROUNDING AREA IN COOPERATION WITH OTHER REGIONAL HISTORICAL ENTITIES.

Program Service Accomplishments

Program 1

Expenses: $158,353

TO EDUCATE AND SERVE THE PUBLIC THROUGH PROGRAMS, PUBLICATIONS, MUSEUM EXHIBITS, AND RESEARCH SERVICES, AND TO FOSTER AN APPRECIATION AND UNDERSTANDING OF THE RICH HISTORY OF THE BAYFIELD REGION.

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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 $165,072

Program Service Revenue $0

Investment Income $67,601

Other Revenue $7,047

TOTAL REVENUE $239,720

Expense Breakdown

Grants Paid $0

Salaries & Benefits $59,509

Fundraising Expenses $0

Program Expenses $158,353

Other Expenses $129,488

TOTAL EXPENSES $188,997

Year-over-Year Comparison

	2025	2024	Change
Revenue	$239,720	$414,911	-0.4%
Expenses	$188,997	$170,001	+0.1%
Net Income	$50,723	$244,910	-0.8%

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

$3,063

Total Directors

$55,281

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JERRY PHILLIPS	PRESIDENT	N/A	Officer Director	$0	$0	$0
MARILYN VAN SANT	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
ELLEN HAUSER	TREASURER	N/A	Officer Director	$0	$0	$0
MARTI PETERSON	SECRETARY	N/A	Officer Director	$3,063	$0	$3,063
SUSAN GERZINA	DIRECTOR	N/A	Director	$0	$0	$0
MARY JO FAIRBANKS	DIRECTOR	N/A	Director	$0	$0	$0
ROSE MELIN	DIRECTOR	N/A	Director	$12,218	$0	$12,218
TRISHA MILLER	EXEC DIRECTO	40.00	Director	$40,000	$0	$40,000

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	$239,720	$188,997	$1,468,027	$50,723
2024	No data	No data	No data	No data
2023	$102,049	$107,038	$1,116,361	$-4,989
2022	$194,607	$118,437	$1,077,747	$76,170
2021	$159,959	$140,069	$1,071,113	$19,890
2020	$105,579	$123,102	$1,034,397	$-17,523
2019	$79,988	$148,214	$1,027,799	$-68,226
2018	$82,835	$134,854	$1,034,124	$-52,019