NORTHERN SKY THEATER 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

1990

Legal Domicile

Principal Officer

HOLLY FELDMAN

Phone

9208546117

Tax Period

2024-01-01 to 2024-12-31

NORTHERN SKY THEATER INC, founded in 1990, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.5M in total revenue in fiscal year 2024. Revenue decreased 8% compared to the prior year. Net assets of $9.2M represent 44 months of operating reserves.

Mission

THE MISSION OF NORTHERN SKY THEATER IS TO CREATE, DEVELOP AND PRESENT PROFESSIONAL MUSICAL AND DRAMATIC PRODUCTIONS WHICH WILL FURTHER THE KNOWLEDGE AND APPRECIATION OF THE CULTURE AND HERITAGE OF THE UNITED STATES. NORTHERN SKY IS DEDICATED TO MAINTAINING STANDARDS OF ARTISTIC EXCELLENCE; CELEBRATING AND ILLUMINATING THE HUMAN CONDITION; REACHING A LARGE AUDIENCE OF ALL AGES, INCLUDING FAMILIES; AND FOSTERING A HUMANISTIC WORK ENVIRONMENT WITH ADEQUATE AND APPROPRIATE EMOTIONAL, FINANCIAL AND CREATIVE SUPPORT FOR ALL THOSE ASSOCIATED WITH US.

Program Service Accomplishments

Program 1

Expenses: $2,029,873 Revenue: $942,514

NORTHERN SKY THEATER DEVELOPS, PRODUCES, AND PERFORMS ORIGINAL MUSICAL PRODUCTIONS. IN 2024, 31,220 PEOPLE ATTENDED 194 LIVE PERFORMANCES AT OUR SUMMER AMPHITHEATER IN PENINSULA STATE PARK, FISH...

NORTHERN SKY THEATER DEVELOPS, PRODUCES, AND PERFORMS ORIGINAL MUSICAL PRODUCTIONS. IN 2024, 31,220 PEOPLE ATTENDED 194 LIVE PERFORMANCES AT OUR SUMMER AMPHITHEATER IN PENINSULA STATE PARK, FISH CREEK, WI, AND AT OUR INDOOR GOULD THEATER IN THE NORTHEN SKY CREATIVE CAMPUS, ALSO IN FISH CREEK, WI. ABOUT 11% OF THESE ATTENDEES WERE STUDENTS OR CHILDREN. THIS PROGRAMMING INVOLVED 49 ARTISTS. NORTHERN SKY PRODUCES ALL ORIGINAL WORK, AND NORTHERN SKY CONTINUED NEW PLAY DEVELOPMENT IN 2024, HOLDING 3 READINGS AND 4 WORKSHOPS FOR MUSICALS BEING READIED FOR LIVE PRODUCTION.

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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 $1,446,028

Program Service Revenue $938,574

Investment Income $27,421

Other Revenue $87,732

TOTAL REVENUE $2,499,755

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,299,715

Fundraising Expenses $134,018

Program Expenses $2,029,873

Other Expenses $1,369,044

TOTAL EXPENSES $2,668,759

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,499,755	$2,707,930	-0.1%
Expenses	$2,668,759	$2,739,328	0.0%
Net Income	$-169,004	$-31,398	+4.4%

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

181

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

$164,892

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HEIDI LING	CHAIRPERSON	3.00	Officer Director	$0	$0	$0
SUSAN CALDWELL	VICE CHAIRPERSON	3.00	Officer Director	$0	$0	$0
THOMAS MOORE	TREASURER	1.00	Officer Director	$0	$0	$0
ERIC DEJARDINE	SECRETARY	1.00	Officer Director	$0	$0	$0
CHRISTINE SALDANHA	DIRECTOR	0.50	Director	$0	$0	$0
FREDERICK HEIDE	DIRECTOR	0.50	Director	$0	$0	$0
MARK BRESEMAN	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL J MCCOY	DIRECTOR	0.50	Director	$0	$0	$0
KATIE DAHL	DIRECTOR	0.50	Director	$0	$0	$0
JOHN SAWYER	DIRECTOR	0.50	Director	$0	$0	$0
BILL THEISEN	DIRECTOR	0.50	Director	$0	$0	$0
PAULA KOCKEN	DIRECTOR	0.50	Director	$0	$0	$0
JEFFREY HERBST	ARTISTIC DIRECTOR	40.00	Officer	$95,207	$0	$95,207
HOLLY FELDMAN	MANAGING DIRECTOR	45.00	Officer	$69,685	$0	$69,685

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
2024	$2,499,755	$2,668,759	$9,356,810	$-169,004
2023	$2,707,930	$2,739,328	$9,588,296	$-31,398
2022	$2,881,655	$2,808,540	$10,387,111	$73,115
2021	$2,539,990	$1,919,847	$10,362,739	$620,143
2020	$1,888,696	$1,333,664	$10,290,318	$555,032
2019	$2,501,526	$1,702,320	$9,848,904	$799,206
2018	$2,384,906	$1,481,564	$7,456,509	$903,342