RED WING VISITOR & CONVENTION BUREAU (EIN 411759188) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Principal Officer

CHELSEA LOCKREM

Phone

6513855934

Tax Period

2024-01-01 to 2024-12-31

RED WING VISITOR & CONVENTION BUREAU, founded in 1994, is a small nonprofit that reported $337K in total revenue in fiscal year 2024. The organization ran a surplus of $62K, a strong 18% operating margin.

Mission

TO ENCOURAGE BUSINESS AND LEISURE TRAVELERS TO CHOOSE RED WING AS A YEAR-ROUND CULTURAL, RECREATIONAL AND MEETING DESTINATION.

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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 $10,000

Program Service Revenue $301,058

Investment Income $4,326

Other Revenue $21,183

TOTAL REVENUE $336,567

Expense Breakdown

Grants Paid $0

Salaries & Benefits $122,520

Fundraising Expenses $0

Other Expenses $151,856

TOTAL EXPENSES $274,376

Year-over-Year Comparison

	2024	2023	Change
Revenue	$336,567	$332,766	+0.0%
Expenses	$274,376	$433,287	-0.4%
Net Income	$62,191	$-100,521	-1.6%

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

$87,250

Total Directors

$87,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEVE MURPHY	DIRECTOR	0.50	Director	$0	$0	$0
CHELSEA LOCKREM	PRESIDENT	0.50	Officer Director	$0	$0	$0
MARLYS BRULEY	SECRETARY	0.50	Officer Director	$0	$0	$0
MICHELLE TIGHE	DIRECTOR	0.50	Director	$0	$0	$0
MATT HANDY	DIRECTOR	0.50	Director	$0	$0	$0
JAMES PLUCKER	TREASURER	0.50	Director	$0	$0	$0
SHELLY ORR	DIRECTOR	0.50	Director	$0	$0	$0
BRYAN SOPER	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
DONALD KLIEWER	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER OLSON	EXECUTIVE DIRECTOR	40.00	Officer Director	$87,250	$0	$87,250

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	$336,567	$274,376	$196,921	$62,191
2023	$332,766	$433,287	$134,072	$-100,521
2022	$390,917	$394,804	$235,093	$-3,887
2021	$323,390	$336,592	$239,539	$-13,202
2020	$210,852	$276,372	$243,006	$-65,520
2019	$308,108	$310,559	$321,140	$-2,451
2018	$273,758	$263,036	$322,455	$10,722

RED WING VISITOR & CONVENTION BUREAU