KANABEC 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

1931

Legal Domicile

Principal Officer

HARV HASTINGS

Phone

3206791665

Tax Period

2024-10-01 to 2025-09-30

KANABEC COUNTY HISTORICAL SOCIETY, founded in 1931, is a small nonprofit in the Arts, Culture & Humanities sector that reported $125K in total revenue in fiscal year 2024. Revenue decreased 15% compared to the prior year. Expenses of $159K exceeded revenue, resulting in a 27% operating deficit.

Mission

OUR ORGANIZATION IS A COUNTY HISTORICAL SOCIETY & MUSEUM

Program Service Accomplishments

Program 1

Expenses: $147,790

OUR ORGANIZATION PROVIDES EDUCATION TO ALL THE SURROUNDING AREA REGARDING HISTORY, ARTIFACTS, COLLECTIONS OF DATA AND THE PRESERVATION OF THE AREA HISTORY. VOLUNTEERS AVERAGE 50 TO 55 HOURS PER MONTH IN ESTABLISHING AND VERIFYING DATA AND THE EDUCATION OF THE COMMUNITY AND SURROUNDING CITIZENS OF THE HISTORY OF THE AREA. THE TOTAL VOLUNTEER HOURS FOR THE FISCAL YEAR WAS ESTIMATED TO BE 600 TO 675 HOURS.

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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 $114,353

Program Service Revenue $3,816

Investment Income $73

Other Revenue $6,723

TOTAL REVENUE $124,965

Expense Breakdown

Grants Paid $0

Salaries & Benefits $47,987

Fundraising Expenses $0

Program Expenses $158,981

Other Expenses $110,994

TOTAL EXPENSES $158,981

Year-over-Year Comparison

	2024	2023	Change
Revenue	$124,965	$146,383	-0.1%
Expenses	$158,981	$70,956	+1.2%
Net Income	$-34,016	$75,427	-1.5%

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
BRUCE ANDERSON	BOARD MEMBER	N/A	Director	$0	$0	$0
MATT ANDERSON	BOARD MEMBER	N/A	Director	$0	$0	$0
JAKE BARNES	VICE PRESIDE	N/A	Director	$0	$0	$0
DAVE HASTINGS	BOARD MEMBER	N/A	Director	$0	$0	$0
HARV HASTINGS	PRESIDENT	N/A	Director	$0	$0	$0
CATHY LIDKE	BOARD MEMBER	N/A	Director	$0	$0	$0
DAN VOCE	BOARD MEMBER	N/A	Director	$0	$0	$0
TOM WALBRIDGE	BOARD MEMBER	N/A	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	$124,965	$158,981	$226,648	$-34,016
2024	$146,383	$70,956	$249,850	$75,427
2023	$81,827	$68,543	$175,199	$13,284
2022	$92,359	$86,900	$160,385	$5,459
2021	$93,471	$80,238	$157,511	$13,233
2019	$52,418	$83,094	$149,542	$-30,676