MINNESOTA LABORERS VACATION FUND

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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

1968

Legal Domicile

Principal Officer

HEATHER GRAZZINI-SIMS

Phone

6512561900

Tax Period

2023-01-01 to 2023-12-31

MINNESOTA LABORERS VACATION FUND, founded in 1968, is a mid-sized nonprofit that reported $49.1M in total revenue in fiscal year 2023. Expenses of $46.8M left a modest 5% surplus.

Mission

THE TRUST IS ESTABLISHED FOR THE PURPOSE OF PAYING, EITHER FROM PRINCIPAL OR INCOME OR BOTH, VACATION BENEFITS FOR THE BENEFIT OF PARTICIPANTS, THEIR FAMILIES AND BENEFICIARIES.

Program Service Accomplishments

Program 1

TO PROVIDE VACATION BENEFITS TO ELIGIBLE PARTICIPANTS OR PAY THEIR WORKING DUES UNDER THE TERMS OF THE SUMMARY PLAN DESCRIPTION.

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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 $0

Program Service Revenue $48,681,506

Investment Income $380,362

Other Revenue $0

TOTAL REVENUE $49,061,868

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $267,746

TOTAL EXPENSES $46,832,964

Year-over-Year Comparison

	2023	2022	Change
Revenue	$49,061,868	$45,888,621	+0.1%
Expenses	$46,832,964	$45,877,755	+0.0%
Net Income	$2,228,904	$10,866	+204.1%

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

N/A

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

$1,006,705

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOEL SMITH	TRUSTEE - UNION (SECRETARY)	1.00	Director	$0	$111,401	$304,579
STEVE ZUPON	TRUSTEE - UNION	1.00	Director	$0	$99,733	$247,450
ERIC ENGSTROM	TRUSTEE - UNION	1.00	Director	$0	$96,461	$236,854
SHAWN BRAFORD	TRUSTEE - UNION	1.00	Director	$0	$84,007	$217,822
HEATHER GRAZZINI-SIMS	TRUSTEE - EMPLOYER (CHAIRPERSON)	1.00	Director	$0	$0	$0
NORM EVERSON	TRUSTEE - EMPLOYER	1.00	Director	$0	$0	$0
CHRIS SANDBERG	TRUSTEE - EMPLOYER	1.00	Director	$0	$0	$0
JOSH COOPER	TRUSTEE - EMPLOYER	1.00	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	$49,061,868	$46,832,964	$32,930,142	$2,228,904
2022	$45,888,621	$45,877,755	$30,700,458	$10,866
2021	$47,584,274	$42,315,613	$30,690,808	$5,268,661
2020	$40,063,142	$40,298,878	$25,436,222	$-235,736
2019	$42,845,554	$38,491,565	$25,581,382	$4,353,989
2018	$36,806,378	$35,316,842	$21,220,299	$1,489,536