LAKE COUNTY HISTORICAL SOCIETY (EIN 460364322) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1952

Legal Domicile

Principal Officer

DANNY FRISBY-GRIFFIN

Phone

6052565308

Tax Period

2024-01-01 to 2024-12-31

Lake County Historical Society, founded in 1952, is a micro nonprofit that reported $37K in total revenue in fiscal year 2018. Revenue fell 72% from the prior year — a significant decline worth monitoring. Expenses of $42K exceeded revenue, resulting in a 13% operating deficit.

Mission

THE LAKE COUNTY HISTORICAL SOCIETY, ENRICHES LIVES THROUGH EDUCATION AND PRESERVATION. WE ARE DEDICATED TO LINKING THE PAST TO THE FUTURE BY COLLECTING, DOCUMENTING, PRESERVING, SECURING, RESEARCHING, EXHIBITING AND INTERPRETING OBJECTS OF CULTURAL DEVELOPMENTAL AND HISTORICAL VALUE TO THE LAKE COUNTY AREA FROM THE MID-1800S TO THE PRESENT.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $32,069

Program Service Revenue $37,581

Investment Income $52,940

Other Revenue $0

TOTAL REVENUE $122,590

Expense Breakdown

Grants Paid $99,170

Salaries & Benefits $76,442

Fundraising Expenses $1,194

Program Expenses $208,338

Other Expenses $40,499

TOTAL EXPENSES $216,111

Year-over-Year Comparison

	2024	2023	Change
Revenue	$122,590	$104,319	+0.2%
Expenses	$216,111	$129,765	+0.7%
Net Income	$-93,521	$-25,446	+2.7%

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

$46,786

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE ELLIS-BREU	CEO	40.00	Officer	$46,786	$0	$46,786
SUSAN CONOVER	DIRECTOR	1.00	Director	$0	$0	$0
DANNY FRISBY-GRIFFIN	PRESIDENT	1.00	Officer Director	$0	$0	$0
MARILYN HALGERSON	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID KENLEY	DIRECTOR	1.00	Director	$0	$0	$0
JOHN NELSON	VICE PRESIDE	1.00	Officer Director	$0	$0	$0
MARK SPENCER	TREASURER	1.00	Officer Director	$0	$0	$0
JANE UTECHT	DIRECTOR	1.00	Director	$0	$0	$0
JAN WEBER	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	$122,590	$216,111	$796,801	$-93,521
2023	$104,319	$129,765	$840,816	$-25,446
2022	$172,303	$89,199	$796,954	$83,104
2021	$136,368	$67,198	$825,838	$69,170
2019	$33,922	$42,772	$542,409	$-8,850
2018	$37,363	$42,135	$551,259	$-4,772

LAKE COUNTY HISTORICAL SOCIETY