LAKE SUPERIOR STEELHEAD ASSOCIATION

EIN: 411573739 501(c)(3) Animal-Related

DULUTH, MN

Total Revenue
$48,274
Total Expenses
$74,071
Total Assets
$88,146
Net Assets
$88,146
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1975
Legal Domicile
MN
Principal Officer
MIKE PITAN
Phone
2187228236
Tax Period
2024-02-29 to 2025-02-28

LAKE SUPERIOR STEELHEAD ASSOCIATION, founded in 1975, is a micro nonprofit in the Animal-Related sector that reported $48K in total revenue in fiscal year 2024. Revenue fell 47% from the prior year — a significant decline worth monitoring. Expenses of $74K exceeded revenue, resulting in a 53% operating deficit.

Mission

TO PROMOTE THE PROPAGATION OF STEELHEAD TROUT AND COLD WATER FISH THROUGH A COMBINED PROGRAM OF HATCHERY DEVELOPMENT AND PROTECTION OF LAKE SUPERIOR FISH

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $67,652
Program Service Revenue $8,543
Investment Income $0
Other Revenue $-27,921
TOTAL REVENUE $48,274

Expense Breakdown

Grants Paid $0
Salaries & Benefits $39,125
Fundraising Expenses $0
Program Expenses $74,071
Other Expenses $34,946
TOTAL EXPENSES $74,071

Year-over-Year Comparison

2024 2023 Change
Revenue $48,274 $91,600 -0.5%
Expenses $74,071 $117,476 -0.4%
Net Income $-25,797 $-25,876 0.0%
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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Governance

Voting Members
8
Independent Members
7
Employees
6
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
4
$83,110
Total Directors
8
$83,110
Key Employees
1
$83,110
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KEVIN BOVEE SECRETARY/GAMBLING MGR 020.00
Officer Director Key Emp
$83,110 $0 $83,110
MIKE PITAN PRESIDENT 004.00
Officer Director
$0 $0 $0
CURT WISTROM VICE PRESIDENT 002.00
Officer Director
$0 $0 $0
DOUG DAHL TREASURER 002.00
Officer Director
$0 $0 $0
KEITH BEHN DIRECTOR 001.00
Director
$0 $0 $0
JOHN EK DIRECTOR 001.00
Director
$0 $0 $0
TOM CAWCUTT DIRECTOR 001.00
Director
$0 $0 $0
JEFF SOMROCK DIRECTOR 001.00
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 $48,274 $74,071 $88,146 $-25,797
2024 $91,600 $117,476 $113,943 $-25,876
2023 $107,724 $113,847 $140,135 $-6,123
2022 $131,411 $93,504 $145,942 $37,907
2021 $87,539 $106,242 $108,035 $-18,703
2020 $92,919 $99,339 $126,738 $-6,420
2019 $104,174 $154,749 $185,047 $-50,575
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