NORDIC HERITAGE SKI CLUB

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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

2003

Legal Domicile

Principal Officer

MATTHEW SABASTEANSKI

Phone

2077626972

Tax Period

2021-05-01 to 2022-04-30

NORDIC HERITAGE SKI CLUB, founded in 2003, is a micro nonprofit that reported $23K in total revenue in fiscal year 2021. Revenue fell 76% from the prior year — a significant decline worth monitoring. Expenses of $88K exceeded revenue, resulting in a 287% operating deficit.

Mission

1. THE NORDIC HERITAGE SPORT CLUB PROMOTES HEALTHY OUTDOOR RECREATION AND ECONOMIC VITALITY IN CENTRAL AROOSTOOK COUNTY BY PROVIDING FIRST-CLASS FACILITIES AND PROGRAMS TO AREA RESIDENTS, ATHLETES, AND VISITORS. 2. TRAIN AMATEUR ATHLETES.

Program Service Accomplishments

Program 1

Expenses: $87,980 Revenue: $11,035

PROVIDE FACILITIES, COACHING AND SUPPORT FOR THE TRAINING AND DEVELOPMENT OF AMATEUR ATHLETES SEEKING TO ENGAGE IN, AND FOR THE GENERAL PROMOTION OF WINTER SPORTS WITH AN EMPHASIS ON NORDIC SKIING...

PROVIDE FACILITIES, COACHING AND SUPPORT FOR THE TRAINING AND DEVELOPMENT OF AMATEUR ATHLETES SEEKING TO ENGAGE IN, AND FOR THE GENERAL PROMOTION OF WINTER SPORTS WITH AN EMPHASIS ON NORDIC SKIING AND THE BIATHLON.

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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 (2021)

Revenue Breakdown

Contributions & Grants $9,919

Program Service Revenue $11,035

Investment Income $205

Other Revenue $1,570

TOTAL REVENUE $22,729

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,500

Fundraising Expenses $0

Program Expenses $87,980

Other Expenses $86,480

TOTAL EXPENSES $87,980

Year-over-Year Comparison

	2021	2020	Change
Revenue	$22,729	$92,954	-0.8%
Expenses	$87,980	$93,372	-0.1%
Net Income	$-65,251	$-418	+155.1%

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

100

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
KAREN GONYA	SECRETARY	1.00	Officer Director	$0	$0	$0
MATTHEW SABASTEANSKI	PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHELLE YORK	TREASURER	1.00	Officer 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
2022	$22,729	$87,980	No data	$-65,251
2021	$92,954	$93,372	$367,464	$-418
2020	$56,227	$155,372	$378,904	$-99,145
2019	$125,794	$217,365	$473,319	$-91,571
2018	$86,116	$149,325	$556,931	$-63,209