MINNESOTA RADIOLOGICAL SOCIETY

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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

1969

Legal Domicile

Principal Officer

BEN SPILSETH MD

Phone

6519176249

Tax Period

2025-01-01 to 2025-12-31

MINNESOTA RADIOLOGICAL SOCIETY, founded in 1969, is a small nonprofit that reported $251K in total revenue in fiscal year 2025. Revenue surged 133% from the prior year, signaling strong growth momentum. The organization ran a surplus of $112K, a strong 45% operating margin.

Mission

THE MRS SERVES TO STRENGTHEN THE PRACTICE OF RADIOLOGY BY ADVOCATING FOR PRO-RADIOLOGY LEGISLATION, PROVIDING HIGH-QUALITY CONTINUING MEDICAL EDUCATION (CME) AT ITS BIANNUAL MEETINGS, AND PROVIDING ITS MEMBERS WITH ESSENTIAL ECONOMICS INFORMATION IN A RAPIDLY CHANGING HEALTHCARE ENVIRONMENT.

Program Service Accomplishments

Program 1

Expenses: $89,490

THE MINNESOTA RADIOLOGICAL SOCIETY IS THE PREMIER MEMBERSHIP ORGANIZATION FOR RADIOLOGISTS, RADIATION ONCOLOGISTS, MEDICAL PHYSICISTS, AND NUCLEAR MEDICINE PHYSICIANS IN THE STATE OF MINNESOTA. THE MRS IS COMPRISED OF MORE THAN 500 ACTIVE, RESIDENT, AND RETIRED MEMBERS WORKING IN VARIOUS PRACTICE SETTINGS THROUGHOUT THE STATE.THE MINNESOTA RADIOLOGICAL SOCIETY HOLDS SPRING AND FALL MEETINGS EACH YEAR.

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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 (2025)

Revenue Breakdown

Contributions & Grants $220,054

Program Service Revenue $0

Investment Income $30,774

Other Revenue $0

TOTAL REVENUE $250,828

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $89,490

Other Expenses $138,704

TOTAL EXPENSES $138,704

Year-over-Year Comparison

	2025	2024	Change
Revenue	$250,828	$107,583	+1.3%
Expenses	$138,704	$142,797	0.0%
Net Income	$112,124	$-35,214	-4.2%

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

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BEN MEYER MD	ALT. COUNCILOR	1.00	Director	$0	$0	$0
MATHEW SO MD	COUNCILOR	2.00	Director	$0	$0	$0
ROBERT YOST	ALT. COUNCILOR	2.00	Director	$0	$0	$0
CRAIG MEIERS MD	YOUNG PHYSICIAN ALT. COUNC	2.00	Director	$0	$0	$0
GOPAL PUNJABI MD	ALT. COUNCILOR	1.00	Director	$0	$0	$0
NICHOLAS RHODES MD	ALT. COUNCILOR	1.00	Director	$0	$0	$0
JORGE LEON MD	ALT. COUNCILOR	1.00	Director	$0	$0	$0
AN CHURCH MD	ALT. COUNCILOR	1.00	Director	$0	$0	$0
ANIL NICHOLAS KURUP MD	COUNCILOR	2.00	Director	$0	$0	$0
ALAN STOLPEN MD FACR	COUNCILOR	1.00	Director	$0	$0	$0
HEIDI EDMONSON PHD	COUNCILOR	1.00	Director	$0	$0	$0
KEITH WITTENBERG MD	ALT. COUNCILOR	1.00	Director	$0	$0	$0
BEN SPILSETH MD	SECRETARY/TREASURER	2.00	Officer	$0	$0	$0
DAVID NASCENE MD	PRESIDENT	1.00	Officer	$0	$0	$0
ANNE REDDY MD	IMMEDIATE PAST PRESIDENT	2.00	Officer	$0	$0	$0
AMY LYNN CONNORS MD	PRESIDENT-ELECT	1.00	Officer	$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	$250,828	$138,704	$758,792	$112,124
2024	No data	No data	No data	No data
2023	$252,354	$109,391	$631,011	$142,963
2022	$87,042	$93,354	$461,663	$-6,312
2021	$111,846	$78,283	$516,860	$33,563
2020	$218,793	$80,422	$461,247	$138,371