MINNESOTA LAKES MARITIME SOCIETY (EIN 411967683) - 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

1999

Legal Domicile

Principal Officer

KATIE WILLIAMS

Phone

3207591114

Tax Period

2023-01-01 to 2023-12-31

MINNESOTA LAKES MARITIME SOCIETY, founded in 1999, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.5M in total revenue in fiscal year 2023. Revenue surged 88% from the prior year, signaling strong growth momentum. The organization ran a surplus of $939K, a strong 61% operating margin.

Mission

PROMOTE AND PRESERVE THE HISTORY AND CULTURE OF LAKE LIFE THROUGH INTERPRETIVE EXHIBITS, EDUCATIONAL PROGRAMS, COLLECTIONS MANAGEMENT AND SPECIAL EVENTS.

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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 $1,480,684

Program Service Revenue $45,577

Investment Income $13,101

Other Revenue $-7,081

TOTAL REVENUE $1,532,281

Expense Breakdown

Grants Paid $0

Salaries & Benefits $191,780

Fundraising Expenses $0

Program Expenses $502,081

Other Expenses $401,750

TOTAL EXPENSES $593,530

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,532,281	$816,428	+0.9%
Expenses	$593,530	$500,882	+0.2%
Net Income	$938,751	$315,546	+2.0%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

132

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATIE WILLIAMS	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVE BORTNER	VICE-PRESIDE	1.00	Officer Director	$0	$0	$0
JON STEINBRING	SECRETARY	1.00	Officer Director	$0	$0	$0
JOHN ENGELEN	TREASURER	1.00	Officer Director	$0	$0	$0
RUSS STICHA	PAST-PRESIDE	1.00	Director	$0	$0	$0
BRIAN BALUSEK	DIRECTOR	1.00	Director	$0	$0	$0
JAY DIEBALD	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT FRICKE	DIRECTOR	1.00	Director	$0	$0	$0
MIKE JOST	DIRECTOR	1.00	Director	$0	$0	$0
JOHN KARLSON	DIRECTOR	1.00	Director	$0	$0	$0
ANDY LUIKENS	DIRECTOR	1.00	Director	$0	$0	$0
LOWELL PICKETT	DIRECTOR	1.00	Director	$0	$0	$0
ROBYN SNYDER	DIRECTOR	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
2024	No data	No data	No data	No data
2023	$1,532,281	$593,530	$4,775,602	$938,751
2022	$816,428	$500,882	$3,707,612	$315,546
2021	$731,131	$388,154	$3,565,175	$342,977
2020	$461,700	$366,148	$3,458,909	$95,552
2019	$446,194	$383,307	$3,412,589	$62,887
2018	$644,432	$438,980	$3,314,017	$205,452

MINNESOTA LAKES MARITIME SOCIETY