Beaver Island Historical Society of Michigan
Nonprofit profile at a glance
- EIN
- 386087750
- IRS 990 coverage
- 2016–2024
- Forms available
- Form 990 2024
- Location
- Beaver Island, MI, USA
- Phone
- 2314482254
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Historical Societies & Historic Preservation
Reported finances
- Revenue
- $303,708
- Expenses
- $345,260
- Assets
- $982,873
- Liabilities
- $73,437
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- TRACY PAQUIN (PRESIDENT)
People named in this filing
- TRACY PAQUIN (PRESIDENT)
- ANGELA LEFEVRE-WELKE (VICE-PRESIDE)
- KIM BOUSQUET (SECRETARY)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The beaver island historical society has a mission to "share and preserve the unique history of beaver island and the archipelago". We advance our mission through well maintained collections and well-articulated exhibits in our clean and well cared for print shop museum and marine museum, in addition to our two historic properties, the heritage park and the protar home. We offer several resources and services to our visitors, including genealogical research, copies of archival photos and a series of historical journals, a monthly publication, an annual arts and culture magazine and other historical themed books for purchase. Additionally, we host many events throughout the year aligning with beaver island's cultural landscape. Museum week and kids camp are our most popular events. The beaver island historical values: financial sustainability community close interpersonal relation emphasis on education knowledge and expertise quality exhibits historic preservations traditional values co
What it reported doing in 2024
The historical society currently operates two museums on the island, the print shop museum and the marine museum, as well as two additional historical sites, heritage park and the protar home. In addition, we offer several historical resources to our visitors, including genealogical research, copies of archival photos, and a series of historical journals and other historical themed books for purchase. Additionally, we host many events throughout the year to promote the island's unique history. We also publish the northern islander, our community's monthly publication and an annual arts and culture magazine, the beaver beacon.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 78
- Transparency & Controls: 92
- Accountability: 70
- Sustainability: 40
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 87%; rating input score 87
- Program expense ratio: 76.5%; rating input score 76
- Fundraising efficiency: $10.94 raised per $1 spent on fundraising; rating input score 42; 42nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -13.7%; rating input score 19; 19th percentile among comparable filings
- Total-asset coverage ratio: 2.85; rating input score 68; 68th percentile among comparable filings
- Liabilities to assets ratio: 0.07; rating input score 29; 29th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 19.8% per year; rating input score 100; 84th percentile among comparable filings
- Revenue growth: -2.5% per year; rating input score 0; 15th percentile among comparable filings
- Asset growth: 1.8% per year; rating input score 100; 32nd percentile among comparable filings
Details
- Where the money goes: 87% of revenue deployed · 76.5% of spending went to programs
- Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $264K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 28 of 28 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 9 filing years from 2016 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Governance controls: 4 of 6 not reported.
- Moderate — Financial Efficiency: Fundraising efficiency scored 42/100.
- High — Growth: Revenue growth scored 0/100.
- High — Sustainability: Operating margin scored 19/100.
- High — Sustainability: Liabilities to assets ratio scored 29/100.