Historic Elkhart River Queen Inc

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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

2015

Legal Domicile

Principal Officer

TOM SHOFF

Phone

5743208888

Tax Period

2023-01-01 to 2023-12-31

Historic Elkhart River Queen Inc, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $302K in total revenue in fiscal year 2023. Revenue surged 218% from the prior year, signaling strong growth momentum. The organization ran a surplus of $242K, a strong 80% operating margin.

Mission

To promote education of Elkhart's history via sightseeing tours on the St. Joseph River aboard the 1948 Elkhart River Queen, highlighting the River's part in Elkhart's development and

Program Service Accomplishments

Program 1

Expenses: $9,640

Operation of River Queen to support exempt purpose

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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 $278,288

Program Service Revenue $0

Investment Income $8

Other Revenue $24,144

TOTAL REVENUE $302,440

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $4,458

Program Expenses $9,640

Other Expenses $60,522

TOTAL EXPENSES $60,522

Year-over-Year Comparison

	2023	2022	Change
Revenue	$302,440	$94,989	+2.2%
Expenses	$60,522	$45,139	+0.3%
Net Income	$241,918	$49,850	+3.9%

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

N/A

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	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOTTIE ARNOLD	Director	1.000	Director	$0	$0	$0
RICHARD BOND	Secretary	1.000	Officer Director	$0	$0	$0
ELIZABETH BOND	Director	1.000	Director	$0	$0	$0
BOB DEPUTY	Director	1.000	Director	$0	$0	$0
LORI HARRIS	Director	1.000	Director	$0	$0	$0
DIANA LAWSON	Director	1.000	Director	$0	$0	$0
JOHN LETHERMAN	Director	1.000	Director	$0	$0	$0
ASHLEY MARTIN	Director	1.000	Director	$0	$0	$0
STACEY SHOFF	Treasurer	2.000	Officer Director	$0	$0	$0
TOM SHOFF	President	2.000	Officer Director	$0	$0	$0
1 WELLS	Director	N/A	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	$302,440	$60,522	$355,134	$241,918