FRIENDS OF THE HISTORY MUSEUM OF E… - Form 990 Financial Data

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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

1993

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF THE HISTORY MUSEUM OF EAST OTTER TAIL, founded in 1993, is a small nonprofit in the Arts, Culture & Humanities sector that reported $156K in total revenue in fiscal year 2023. Revenue surged 92% from the prior year, signaling strong growth momentum. The organization ran a surplus of $44K, a strong 28% operating margin.

Mission

THE MISSION OF THE FRIENDS OF THE HISTORY MUSEUM IS TO LEARN ABOUT AND INTEREST OTHERS IN THE HISTORY AND CULTURE OF THE AREA. THE MUSEUM MAINTAINS A COLLECTION OF ORIGINAL DOCUMENTS AND PROVIDES FREE ONLINE ACCESS TO LOCAL HISTORICAL RECORDS AND PHOTOGRAPHS.

Program Service Accomplishments

Program 1

Expenses: $36,569 Revenue: $85,876

The organization maintains the ITOW (In their own words) museum. This museum is a veterans museum that presents pre-recorded true stories spoken in person by the vets. The museum has Artistic from...

The organization maintains the ITOW (In their own words) museum. This museum is a veterans museum that presents pre-recorded true stories spoken in person by the vets. The museum has Artistic from Civic, WWI , WW2, Vietman, Korean, up to today.

Program 2

Expenses: $31,382 Revenue: $29,563

THE ORGANIZATION MANAGES PIONEER VILLAGE, A 25-ACRE PARK WITH HISTORIC BUILDINGS. THE ORGANIZTION PRODUCES AN ANNUAL ARTS AND CULTURE FESTIVAL AT PIONEER VILLAGE AND MAINTAINS THE SITE SEASONALLY FOR...

Program 3

Expenses: $7,237 Revenue: $952

THE ORGANIZATION MAINTAINS A CORE LIBRARY OF ORIGINAL DOCUMENTS AND SOCIAL ASPECTS OF EAST OTTER TAIL COUNTY. THE ORGANIZATION PROVIDES ARTS AND HUMANITIES PROGRAMMING THROUGHOUT THE YEAR IN THE FORM OF LECTURES, WORKSHOPS, ARTISTIC DISPLAYS, AND ARTISTIC/CULTURAL PERFORMANCES. THE MUSEUMS PROVIDE FREE ONLINE ACCESS TO LOCAL HISTORICAL RECORDS AND PHOTOGRAPHS ON ITS WEBSITE, WWW.HISTORYMUSEUMEOT.COM

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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 (2023)

Revenue Breakdown

Contributions & Grants $93,065

Program Service Revenue $49,242

Investment Income $60

Other Revenue $13,776

TOTAL REVENUE $156,143

Expense Breakdown

Grants Paid $0

Salaries & Benefits $32,329

Fundraising Expenses $0

Program Expenses $75,188

Other Expenses $79,809

TOTAL EXPENSES $112,138

Year-over-Year Comparison

	2023	2022	Change
Revenue	$156,143	$81,309	+0.9%
Expenses	$112,138	$97,083	+0.2%
Net Income	$44,005	$-15,774	-3.8%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
Rose Neseth	Director	Director	$0	$0	$0
Jean Grismer	Director	Director	$0	$0	$0
Jim Storderl	Director	Director	$0	$0	$0
Heidi Davidson	Director	Director	$0	$0	$0
Shirley Davidson	Director	Director	$0	$0	$0
Chuck Johnson	Treasurer	Officer	$0	$0	$0
Amanda Schultz	Secretary	Officer	$0	$0	$0
Teresa Romann	President	Officer	$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
2024	No data	No data	No data	No data
2023	$156,143	$112,138	$112,246	$44,005
2022	$81,309	$97,083	$68,435	$-15,774
2021	$104,425	$73,293	$84,216	$31,132
2020	$69,525	$57,599	$53,451	$11,926
2019	$78,019	$88,092	$42,853	$-10,073
2018	$81,481	$83,593	$53,529	$-2,112

FRIENDS OF THE HISTORY MUSEUM OF EAST OTTER TAIL