SUPERIOR HIKING TRAIL ASSOCIATION

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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

1986

Legal Domicile

Principal Officer

LISA LUOKKALA

Phone

2188342700

Tax Period

2024-10-01 to 2025-09-30

SUPERIOR HIKING TRAIL ASSOCIATION, founded in 1986, is a community nonprofit in the Recreation & Sports sector that reported $1.4M in total revenue in fiscal year 2024. Revenue grew 16% year-over-year, indicating healthy expansion. Expenses of $1.3M left a modest 8% surplus.

Mission

TO BUILD AND MAINTAIN THE SUPERIOR HIKING TRAIL, A PUBLIC TRAIL IN NORTHEASTERN MINNESOTA AND TO PROVIDE INFORMATION AND EDUCATION ABOUT THE TRAIL AND THE ENVIRONMENT THROUGH WHICH THE TRAIL PASSES.

Program Service Accomplishments

Program 1

Expenses: $1,044,764 Revenue: $58,960

TO CONSTRUCT AND MAINTAIN THE SUPERIOR HIKING TRAIL FOR GENERAL PUBLIC USE WITH THE ASSISTANCE OF OVER 600 VOLUNTEERS, WHO CONTRIBUTED OVER 10,750 HOURS OF VOLUNTEER LABOR IN 2025. IT IS ESTIMATED...

TO CONSTRUCT AND MAINTAIN THE SUPERIOR HIKING TRAIL FOR GENERAL PUBLIC USE WITH THE ASSISTANCE OF OVER 600 VOLUNTEERS, WHO CONTRIBUTED OVER 10,750 HOURS OF VOLUNTEER LABOR IN 2025. IT IS ESTIMATED THAT USERS OF THE TRAIL MAKE MORE THAN 400,000 VISITS TO HIKE, BACKPACK, OR SHOWNSHOE ON THE TRAIL EACH YEAR. THERE ARE NO FEES TO HIKE OR CAMP ON THE TRAIL.

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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 $1,263,559

Program Service Revenue $0

Investment Income $8,704

Other Revenue $87,446

TOTAL REVENUE $1,359,709

Expense Breakdown

Grants Paid $0

Salaries & Benefits $410,245

Fundraising Expenses $77,549

Program Expenses $1,044,764

Other Expenses $844,679

TOTAL EXPENSES $1,254,924

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,359,709	$1,170,891	+0.2%
Expenses	$1,254,924	$1,133,366	+0.1%
Net Income	$104,785	$37,525	+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

600

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

$91,938

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LISA LUOKKALA	EXECUTIVE DI	40.00	Officer	$81,327	$10,611	$91,938
BARRY CATTADORIS	CHAIR	1.00	Officer Director	$0	$0	$0
MYRTLE TURNQUIST	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BETH TOSO	SECRETARY	1.00	Officer Director	$0	$0	$0
EVAN ALMEROTH	TREASURER	1.00	Officer Director	$0	$0	$0
RYAN BLAISDELL	BOARD MEMBER	1.00	Director	$0	$0	$0
AILEEN LYLE	BOARD MEMBER	1.00	Director	$0	$0	$0
STEVE SHARKEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN MCDONALD	BOARD MEMBER	1.00	Director	$0	$0	$0
RYAN HOLDORF	BOARD MEMBER	1.00	Director	$0	$0	$0
ROB GARCIA-GRADOVILLE	BOARD MEMBER	1.00	Director	$0	$0	$0
RON HENDRICKSON	BOARD MEMBER	1.00	Director	$0	$0	$0
HOLLY KOSTRZEWSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
TIM KROHN	BOARD MEMBER	1.00	Director	$0	$0	$0
MADELINE HARMS	BOARD MEMBER	1.00	Director	$0	$0	$0
LLOYD VOGEL	BOARD MEMBER	1.00	Director	$0	$0	$0
KAREN KETCHMARK	BOARD MEMBER	1.00	Director	$0	$0	$0
KAREN KODZIK	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE WARD	BOARD MEMBER	1.00	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	$1,359,709	$1,254,924	$1,153,976	$104,785
2024	$1,170,891	$1,133,366	$1,013,369	$37,525
2023	$880,067	$1,029,109	$849,817	$-149,042
2022	$1,042,078	$1,011,323	$1,031,797	$30,755
2021	$877,394	$870,432	$937,359	$6,962
2020	$917,726	$871,781	$964,345	$45,945
2019	$909,877	$647,635	$854,739	$262,242