OLMSTED COUNTY HISTORICAL SOCIETY

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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

1926

Legal Domicile

Principal Officer

PAUL SCANLON

Phone

5072829447

Tax Period

2023-01-01 to 2023-12-31

OLMSTED COUNTY HISTORICAL SOCIETY, founded in 1926, is a small nonprofit that reported $754K in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $984K exceeded revenue, resulting in a 31% operating deficit.

Mission

GIVE PEOPLE OF ALL AGES AND BACKGROUNDS ACCESS AND OPPORTUNITY TO LEARN ABOUT THE PAST THROUGH INTERPRETIVE PROGRAMS AND EXHIBITS, RESEARCH, PUBLICATIONS AND EVENTS.

Program Service Accomplishments

Program 1

Expenses: $393,881 Revenue: $186,375

OPERATION OF A HISTORY CENTER CONTAINING EXHIBITS AND A RESEARCH LIBRARY.

Program 2

Expenses: $129,418 Revenue: $1,417

HISTORICAL EDUCATIONAL AND ENTERTAINING PROGRAMS, EVENTS, AND INTERPRETATION OFFERED THROUGHOUT THE YEAR.

Program 3

Expenses: $165,013

PRESERVATION AND INTERPRETATION OF ASSORTED HISTORIC PROPERTIES INCLUDING TWO ON THE NATIONAL REGISTER OF HISTORIC PLACES.

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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 $518,639

Program Service Revenue $186,375

Investment Income $13,980

Other Revenue $35,192

TOTAL REVENUE $754,186

Expense Breakdown

Grants Paid $0

Salaries & Benefits $498,119

Fundraising Expenses $90,990

Program Expenses $688,312

Other Expenses $486,213

TOTAL EXPENSES $984,332

Year-over-Year Comparison

	2023	2022	Change
Revenue	$754,186	$1,185,562	-0.4%
Expenses	$984,332	$897,948	+0.1%
Net Income	$-230,146	$287,614	-1.8%

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

$74,390

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR PAUL SCANLON	PRESIDENT	3.00	Officer Director	$0	$0	$0
DAVE SENJEM	DIRECTOR	1.00	Director	$0	$0	$0
JEAN MARVIN	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE RULE	DIRECTOR	1.00	Director	$0	$0	$0
BEN KING	DIRECTOR	1.00	Director	$0	$0	$0
SAM WICK	DIRECTOR	1.00	Director	$0	$0	$0
DR MARK WARNER	VICE PRESIDENT	3.00	Officer Director	$0	$0	$0
LINDA WILLIHNGANZ	SECRETARY	6.00	Officer Director	$0	$0	$0
JORDAN CEPRESS	DIRECTOR	1.00	Director	$0	$0	$0
KERRY OLSEN	DIRECTOR	1.00	Director	$0	$0	$0
KYLE BENISH	TREASURER	2.00	Officer Director	$0	$0	$0
JOSEFINA POZAS	DIRECTOR	1.00	Director	$0	$0	$0
DAN PENZ	DIRECTOR	1.00	Director	$0	$0	$0
JIM SUK	DIRECTOR	1.00	Director	$0	$0	$0
WAYNE GANNAWAY	EXECUTIVE DIRECTOR	40.00	Officer	$74,390	$0	$74,390

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	No data	No data	No data	No data
2023	$754,186	$984,332	$1,468,463	$-230,146
2022	$1,185,562	$897,948	$1,723,760	$287,614
2021	$925,524	$671,709	$1,499,988	$253,815
2020	$598,849	$546,870	$1,144,918	$51,979
2019	$703,728	$722,151	$1,093,910	$-18,423
2018	$677,231	$741,545	$1,146,710	$-64,314