Sturgis Motorcycle Museum & Hall of Fame

Nonprofit profile at a glance

EIN
460460001
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Sturgis, SD, USA
Phone
6053474720
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$522,600
Expenses
$532,885
Assets
$1,297,873
Liabilities
$377,504

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • PAUL FOSDYCK (PRESIDENT)

Highest reported compensation

  • HEIDI HARO (EXECUTIVE DI): $87,353 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Collect, preserve and interpret the history of motorcycling, honor those who have made a positive and significant impact on the industry.

What it reported doing in 2024

Maintain, operate and control a motorcycle museum. Exhibit motorcycles, historical information regarding various makes, models and years of motorcycles, stories and/or legends associated with certain exhibited motorcycles and wearing apparel and other articles and/or accessories associated with riding motorcycles.

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: 72
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 76.4%; rating input score 76
  • Fundraising efficiency: $2.71 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 2.44; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 25; 25th percentile among comparable filings
  • Officer compensation ratio: 16.4%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: 6.5% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 76.4% of spending went to programs
  • Governance: 16 of 16 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $407K in reported program spending
  • Leadership: top reported pay $87K · 18 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 10 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 8/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • High — Sustainability: Liabilities to assets ratio scored 25/100.