DULUTH & NORTH SHORE RAILWAY INC (EIN 411835806) - 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

Legal Domicile

Principal Officer

EDWARD ROBINSON

Phone

2187337590

Tax Period

2025-01-01 to 2025-12-31

DULUTH & NORTH SHORE RAILWAY INC is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.4M in total revenue in fiscal year 2025. Revenue decreased 6% compared to the prior year. Expenses of $2.3M left a modest 5% surplus.

Mission

PROVIDE A UNIQUE EDUCATIONAL EXPERIENCE TO THE PUBLIC ON THE HISTORY OF RAILROADS.

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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 (2025)

Revenue Breakdown

Contributions & Grants $50,000

Program Service Revenue $1,996,146

Investment Income $21,616

Other Revenue $292,782

TOTAL REVENUE $2,360,544

Expense Breakdown

Grants Paid $0

Salaries & Benefits $780,558

Fundraising Expenses $0

Program Expenses $2,056,030

Other Expenses $1,470,728

TOTAL EXPENSES $2,251,286

Year-over-Year Comparison

	2025	2024	Change
Revenue	$2,360,544	$2,506,128	-0.1%
Expenses	$2,251,286	$2,720,371	-0.2%
Net Income	$109,258	$-214,243	-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

$38,000

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEN BUEHLER	EXECUTIVE DI	20.00	Officer	$34,000	$4,000	$38,000
JIM BENDER	BOARD	2.00	Director	$0	$0	$0
EDWARD BURKHARDT	BOARD	2.00	Director	$0	$0	$0
ROBERT BURN	BOARD	2.00	Director	$0	$0	$0
JESSE CHALICH	BOARD	2.00	Director	$0	$0	$0
JANIS CLAY	BOARD	2.00	Director	$0	$0	$0
TOM GANNON	BOARD	2.00	Director	$0	$0	$0
WILLIAM GRIMSTAD	BOARD	2.00	Director	$0	$0	$0
JONATHAN LAMB	BOARD	2.00	Director	$0	$0	$0
JOHN LARKIN	BOARD	2.00	Director	$0	$0	$0
JOE MIKES	BOARD	2.00	Director	$0	$0	$0
GORDON MOTT	BOARD	2.00	Director	$0	$0	$0
MIKE NESBIT	BOARD	2.00	Director	$0	$0	$0
JOHN ONGARO	BOARD	2.00	Director	$0	$0	$0
RICHARD PETERSON	BOARD	2.00	Director	$0	$0	$0
EDWARD ROBINSON	PRESIDENT/TR	2.00	Officer Director	$0	$0	$0
DAVID SCHAUER	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
JAMES SCHWINKENDORF	BOARD	2.00	Director	$0	$0	$0
FRED SHUSTERICH	BOARD	2.00	Director	$0	$0	$0
NICK STAVIG	BOARD	2.00	Director	$0	$0	$0
RICHARD STEWART	BOARD	2.00	Director	$0	$0	$0
JEFF TUCKER	BOARD	2.00	Director	$0	$0	$0
NEAL VANSTROM	BOARD	2.00	Director	$0	$0	$0
DR TIMOTHY ZAGER	BOARD	2.00	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	$2,360,544	$2,251,286	$497,389	$109,258
2024	$2,506,128	$2,720,371	$410,795	$-214,243
2023	$3,156,659	$3,148,621	$696,116	$8,038
2022	$2,816,813	$2,905,112	$564,166	$-88,299
2021	$2,790,590	$2,428,008	$669,845	$362,582
2020	$1,258,582	$1,109,215	$270,835	$149,367
2019	$2,207,670	$2,180,720	$314,050	$26,950
2018	$2,111,474	$2,164,612	$231,827	$-53,138

DULUTH & NORTH SHORE RAILWAY INC