MINNESOTA ACADEMY OF OPHTHALMOLOGY

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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

1910

Legal Domicile

Principal Officer

BARBARA TONN

Phone

6516452452

Tax Period

2024-07-01 to 2025-06-30

MINNESOTA ACADEMY OF OPHTHALMOLOGY, founded in 1910, is a small nonprofit that reported $533K in total revenue in fiscal year 2024. Revenue surged 88% from the prior year, signaling strong growth momentum. Expenses of $626K exceeded revenue, resulting in a 17% operating deficit.

Mission

PROMOTE HIGH QUALITY EYE CARE FOR ALL MINNESOTANS.

Program Service Accomplishments

Program 1

LEGISLATIVE AFFAIRS ACTIVITIES: TO INITIATE ACTION ON MATTERS OF CONCERN TO THE PUBLIC WELFARE; TO MAINTAIN VIGILANCE IN THE LEGISLATURE AND ANY COURT CASES REGARDING ISSUES PERTAINING TO...

LEGISLATIVE AFFAIRS ACTIVITIES: TO INITIATE ACTION ON MATTERS OF CONCERN TO THE PUBLIC WELFARE; TO MAINTAIN VIGILANCE IN THE LEGISLATURE AND ANY COURT CASES REGARDING ISSUES PERTAINING TO OPHTHALMOLOGY.

Program 2

PROFESSIONAL EDUCATION: TO PROVIDE CONTINUING MEDICAL EDUCATION, INCLUDING CURRENT CONCEPTS IN THE PRACTICE OF OPHTHALMOLOGY, THE ROLE OF OPHTHALMOLOGISTS IN THE HEALTH CARE INDUSTRY, ISSUES ARISING IN THE LEGISLATURE AND HEALTH RELATED POLICY BOARDS HAVING AN IMPACT ON THE OPHTHALMIC FIELD.

Program 3

NEWSLETTER: TO INFORM MEMBERSHIP OF CURRENT EVENTS AND ITEMS OF INTEREST WITHIN THE ORGANIZATION AND WITHIN THE PROFESSION AND TO PUBLICIZE THE MEETINGS OF THE MEMBERS.

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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 $272,903

Program Service Revenue $215,600

Investment Income $7,370

Other Revenue $37,451

TOTAL REVENUE $533,324

Expense Breakdown

Grants Paid $0

Salaries & Benefits $50,017

Fundraising Expenses $0

Other Expenses $576,138

TOTAL EXPENSES $626,155

Year-over-Year Comparison

	2024	2023	Change
Revenue	$533,324	$283,111	+0.9%
Expenses	$626,155	$296,793	+1.1%
Net Income	$-92,831	$-13,682	+5.8%

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

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

$52,119

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMANDA MALTRY MD	PRESIDENT	1.00	Officer Director	$0	$0	$0
ANNE ABEL MD	PRESIDENT ELECT	1.00	Officer Director	$0	$0	$0
MICHELLE ATCHISON MD	TREASURER	1.00	Officer Director	$0	$0	$0
JANE BAILEY MD	SECRETARY	1.00	Officer Director	$0	$0	$0
TIMOTHY OLSEN MD	IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
SASHA STRUL MD	AAO COUNCILOR	1.00	Officer Director	$0	$0	$0
BRADLEY ANDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
ERICK BOTHUN MD	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTHEW COSSACK MD	BOARD MEMBER	1.00	Director	$0	$0	$0
NATALIYA DANYLKOVA MD	BOARD MEMBER	1.00	Director	$0	$0	$0
DEREK HORKEY MD	BOARD MEMBER	1.00	Director	$0	$0	$0
CHERYL KHANNA MD	BOARD MEMBER	1.00	Director	$0	$0	$0
CHASE LIABOE MD	BOARD MEMBER	1.00	Director	$0	$0	$0
MARY LAWRENCE MD	BOARD MEMBER	1.00	Director	$0	$0	$0
ED RYAN MD	BOARD MEMBER	1.00	Director	$0	$0	$0
GARY SCHWARTZ MD MHA	BOARD MEMBER	1.00	Director	$0	$0	$0
HUDA SHEHEITLI MD	BOARD MEMBER	1.00	Director	$0	$0	$0
STACY SJOBERG MD	BOARD MEMBER	1.00	Director	$0	$0	$0
WENDY SMITH MD	BOARD MEMBER	1.00	Director	$0	$0	$0
ANDREA TOOLEY MD	BOARD MEMBER	1.00	Director	$0	$0	$0
TIMOTHY EHLEN MD	BOARD MEMBER	1.00	Director	$0	$0	$0
DORTHY HORNS MD	BOARD MEMBER	1.00	Director	$0	$0	$0
GUNEET SODHI MD	BOARD MEMBER	1.00	Director	$0	$0	$0
MATTHEW STARR MD	BOARD MEMBER	1.00	Director	$0	$0	$0
KRIS WALLERICH	EXECUTIVE DIRECTOR	35.00	Officer	$24,140	$0	$24,140
MARTA ZURN	EXECUTIVE DIRECTOR	35.00	Officer	$27,979	$0	$27,979
BARBARA TONN	EXECUTIVE DIRECTOR (STARTED MAY 2025)	35.00	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	$533,324	$626,155	$280,871	$-92,831
2024	$283,111	$296,793	$354,789	$-13,682
2023	$291,320	$312,306	$355,023	$-20,986
2022	$258,401	$255,393	$368,415	$3,008
2021	$154,902	$167,671	$522,350	$-12,769
2020	$215,607	$279,782	$573,011	$-64,175
2019	$232,569	$194,773	$424,654	$37,796
2018	$223,918	$183,429	$382,115	$40,489