HATS & MITTENS ASSOCIATION (EIN 061529551) - Form 990 Financial Analysis & Trantor Score

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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

1996

Legal Domicile

Principal Officer

REBECCA SUNDQUIST

Phone

9522213400

Tax Period

2024-07-01 to 2025-06-30

HATS & MITTENS ASSOCIATION, founded in 1996, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $210K in total revenue in fiscal year 2024. Expenses of $294K exceeded revenue, resulting in a 40% operating deficit.

Mission

AT HATS & MITTENS, OUR MISSION IS TO WARM THE BODIES AND HEARTS OF KIDS EVERYWHERE. THAT STARTS BY PROVIDING FREE HATS AND MITTENS TO CHILDREN IN NEED DURING THE COLD WINTER MONTHS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $161,537

Program Service Revenue $0

Investment Income $0

Other Revenue $48,787

TOTAL REVENUE $210,324

Expense Breakdown

Grants Paid $253,619

Salaries & Benefits $0

Fundraising Expenses $2,141

Program Expenses $289,259

Other Expenses $40,455

TOTAL EXPENSES $294,074

Year-over-Year Comparison

	2024	2023	Change
Revenue	$210,324	$216,108	0.0%
Expenses	$294,074	$183,419	+0.6%
Net Income	$-83,750	$32,689	-3.6%

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

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
DWIGHT BAKKEN	BOARD MEMBER	1.00	Director	$0	$0	$0
ERIN HOLMEN	BOARD MEMBER	2.00	Director	$0	$0	$0
LINDA HOLMEN	SECRETARY	2.00	Officer Director	$0	$0	$0
KARI HOSKIN	BOARD MEMBER	1.00	Director	$0	$0	$0
CHARLOTTE LEFEBVRE	BOARD MEMBER	3.00	Director	$0	$0	$0
MICHAEL MARKS	BOARD MEMBER	1.00	Director	$0	$0	$0
RACHEL NASH	BOARD MEMBER	3.00	Director	$0	$0	$0
CHAS SCHEIDERER	BOARD MEMBER	3.00	Director	$0	$0	$0
JERRY SUNDQUIST	BOARD MEMBER	1.00	Director	$0	$0	$0
REBECCA SUNDQUIST	EXECUTIVE DI	10.00	Officer Director	$0	$0	$0
DIANA WEDDIGEN	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
2025	$210,324	$294,074	$146,805	$-83,750
2024	$216,108	$183,419	$215,558	$32,689
2023	$130,765	$160,593	$171,091	$-29,828
2022	$213,183	$169,410	$195,359	$43,773
2021	$130,656	$123,703	$119,670	$6,953
2020	$114,513	$177,047	$112,717	$-62,534
2019	$96,762	$193,475	$175,251	$-96,713

HATS & MITTENS ASSOCIATION