MIDWAY SPEEDSKATING CLUB 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

1946

Legal Domicile

Principal Officer

RHIANNA STAVE

Phone

6514702539

Tax Period

2024-06-01 to 2025-05-31

MIDWAY SPEEDSKATING CLUB INC, founded in 1946, is a small nonprofit that reported $298K in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $275K left a modest 7% surplus.

Mission

TO PROVIDE SPEEDSKATING TRAINING AND COMPETITION FROM NOVICE TO OLYMPIC CALIBER.

Program Service Accomplishments

Program 1

Expenses: $241,973

THE GOAL OF THE MIDWAY SPEEDSKATING CLUB IS TO PROVIDE RECREATIONAL AND ELITE LEVEL SPEEDSKATING OPPORTUNITIES AND COACHING TO THE CITIZENS OF THE TWIN CITIES METRO AREA. MIDWAY CURRENTLY HAS ABOUT 36 COMPETING MEMBERS OVER 3 DIFFERENT LEVELS OF PROGRAMMING OFFERED BY THE CLUB. MIDWAY SPEEDSKATING ALSO SUPPORTS COMMUNITY OUTREACH PROGRAMS LIKE WINTER LEARN TO SPEEDSKATE, SUMMER LEARN TO INLINE AS WELL AS PARTICIPATES IN MANY COMMUNITY EVENTS ANDPARADES TO HELP SHOWCASE THE SPORT AND RECRUIT NEW MEMBERS. MIDWAY SPEEDSKATING HAS PRODUCED 19 OLYMPIANS SINCE IT WAS FOUNDED IN 1945.

Program 2

GAMBLING: THE FORMS OF GAMBLING CONDUCTED BY THE ORGANIZATION DURING THE YEAR ENDED 5/31/2025, INCLUDED PAPER PULL-TABS, NON-LINKED BINGO, TIPBOARDS,PADDLETICKETS, LINKED BINGO, ELECTRONIC PULL-TABS, AND SPORTS- THEMED TIPBOARDS. REVENUE IN EXCESS OF ALLOWABLE EXPENSES GENERATED BY THE LAWFUL GAMBLING FUND WERE USED FOR LAWFUL PURPOSES AND BOARD APPROVED EXPENDITURES AS DEFINED BY MINNESOTA STATUTE. GROSS RECEIPTS FOR THE YEAR ENEDED 5/31/2025 WERE 4,392,744. TOTAL GAMING EXPENSES FOR THE YEAR ENDED 5/31/2025 WERE 4,392,575.

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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 $24,391

Program Service Revenue $0

Investment Income $71,450

Other Revenue $201,672

TOTAL REVENUE $297,513

Expense Breakdown

Grants Paid $79,740

Salaries & Benefits $2,063

Fundraising Expenses $0

Program Expenses $241,973

Other Expenses $193,683

TOTAL EXPENSES $275,486

Year-over-Year Comparison

	2024	2023	Change
Revenue	$297,513	$383,199	-0.2%
Expenses	$275,486	$328,336	-0.2%
Net Income	$22,027	$54,863	-0.6%

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

N/A

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

$70,217

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NICK PEARSON	PROGRAM DIRE	40.00	Director	$70,217	$0	$70,217
ERIK DUCKER	VICE PRESIDE	5.00	Officer Director	$0	$0	$0
GEORGE JOYER	DIRECTOR	3.00	Director	$0	$0	$0
ERIN MOORE	DIRECTOR	3.00	Director	$0	$0	$0
THEIN SAM	SECRETARY	5.00	Officer Director	$0	$0	$0
PAUL STANGL	DIRECTOR	3.00	Director	$0	$0	$0
RHIANNA STAVE	PRESIDENT	12.00	Officer Director	$0	$0	$0
RICK TEPE	TREASURER	5.00	Officer Director	$0	$0	$0
ALAN TSAI	DIRECTOR	3.00	Director	$0	$0	$0
JESSICA WALTESKI	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	$297,513	$275,486	$2,669,808	$22,027
2024	$383,199	$328,336	$2,638,877	$54,863
2023	$255,451	$258,986	$2,509,545	$-3,535
2023	$255,451	$258,986	$2,397,376	$-3,535
2022	$635,765	$337,662	$2,618,575	$298,103
2022	$36,056	$64,618	$2,622,320	$-28,562
2022	$36,056	$64,618	$2,510,151	$-28,562
2021	$335,401	$259,517	$2,517,816	$75,884