MINNESOTA PSYCHOLOGICAL ASSOCIATION

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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

1936

Legal Domicile

Principal Officer

AMBER SCHLETTY

Phone

9529287477

Tax Period

2024-01-01 to 2024-12-31

MINNESOTA PSYCHOLOGICAL ASSOCIATION, founded in 1936, is a small nonprofit that reported $316K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

TO SERVE THE SCIENCE OF PSYCHOLOGY AND ITS APPLICATIONS THROUGHOUT MINNESOTA SO THAT THE INTERESTS OF PUBLIC WELFARE AND PSYCHOLOGISTS ARE MUTUALLY ENHANCED.

Program Service Accomplishments

Program 1

Expenses: $9,237 Revenue: $62,644

MPA ENHANCES PUBLIC AND PSYCHOLOGICAL INTEREST BY PROMOTING THE SCIENCE OF PSYCHOLOGY AND ITS APPLICATIONS. MPA PROVIDES QUALITY CONTINUING EDUCATION OPPORTUNITIES THROUGH ITS - FIRST FRIDAY FORUMS, FRIDAY FORUM ENCORES AND DISTINGUISHED SCHOLAR LECTURES. CONTINUING EDUCATION CREDITS ARE AVAILABLE TO ITS 1000 MEMBERS.

Program 2

Expenses: $48,825

MPA IS INNOVATIVE BY CREATING NEW ROLES FOR PSYCHOLOGISTS THROUGH LEGISLATION AND MARKETING, RESULTING IN PSYCHOLOGISTS WHO FEEL POSITIVELY ABOUT THEIR PROFESSION AND THE PUBLIC UNDERSTANDING FOR THE...

Program 3

Expenses: $80,963 Revenue: $90,615

MPA HELD 1 CONFERENCE DURING 2024 WHICH WAS THEIR ANNUAL CONFERENCE. MPA ALSO PROVIDED MANY OTHER EDUCATIONAL OPPORTUNITIES. THESE EVENTS PROVIDE CE CREDITS TO PSYCHOLOGISTS THROUGH THE THEMES OF...

MPA HELD 1 CONFERENCE DURING 2024 WHICH WAS THEIR ANNUAL CONFERENCE. MPA ALSO PROVIDED MANY OTHER EDUCATIONAL OPPORTUNITIES. THESE EVENTS PROVIDE CE CREDITS TO PSYCHOLOGISTS THROUGH THE THEMES OF CONNECTIONS, PROTECTION, AND GROWTH. THE CONFERENCE IS AIMED TO BRING MENTAL HEALTH PROFESSIONALS AND CLIENTS TOGETHER THROUGH COMMON LINKS OF RESEARCH, ACADEMICS, AND SCIENTIFIC PRINCIPLE APPLICATION. THE CONFERENCES SOUGHT TO PROTECT CONSUMERS, PRACTITIONER WELL-BEING, AND THE FUTURE OF PSYCHOLOGY. ALSO, THE CONFERENCES FOCUSED ON THE GROWTH OF PSYCHOLOGISTS AS PROFESSIONALS, PSYCHOLOGY AS A DISCIPLINE, AND NEW CAREER OPPORTUNITIES IN CHANGING HEALTH CARE.

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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 $25,500

Program Service Revenue $279,220

Investment Income $685

Other Revenue $10,297

TOTAL REVENUE $315,702

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $139,025

Other Expenses $340,617

TOTAL EXPENSES $340,617

Year-over-Year Comparison

	2024	2023	Change
Revenue	$315,702	$281,450	+0.1%
Expenses	$340,617	$276,888	+0.2%
Net Income	$-24,915	$4,562	-6.5%

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
MATTHEW SYZDEK	PRESIDENT	3.00	Officer Director	$0	$0	$0
G ZACHARIAH WHITE	PRESIDENT-ELECT	1.00	Officer Director	$0	$0	$0
SHARON STEIN MCNAMARA	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
KELLY NELSON	TREASURER	0.50	Officer Director	$0	$0	$0
THYRA FOSSUM	SECRETARY	0.50	Officer Director	$0	$0	$0
MICHAEL SHARLAND	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER HARRISON	DIRECTOR	0.50	Director	$0	$0	$0
JENNY WETTERSTEN	DIRECTOR	0.50	Director	$0	$0	$0
TOM ALLEN	DIRECTOR	0.50	Director	$0	$0	$0
AMANDA JANKE	DIRECTOR	0.50	Director	$0	$0	$0
TAMARIND KNUTSON	DIRECTOR	0.50	Director	$0	$0	$0
RACHELLE HANSEN	DIRECTOR	0.50	Director	$0	$0	$0
RENEE VON WEISS	DIRECTOR	0.50	Director	$0	$0	$0
SONAL MARKANDA	DIRECTOR	0.50	Director	$0	$0	$0
SUSAN T RYDELL	DIRECTOR	0.50	Director	$0	$0	$0
STEVE GIRARDEAU	DIRECTOR	0.50	Director	$0	$0	$0
SHANNON GOECKE-WATSON	DIRECTOR	0.50	Director	$0	$0	$0
KAVITA DESAI DAKOJI	DIRECTOR	0.50	Director	$0	$0	$0
BROOKE PALMER	DIRECTOR	0.50	Director	$0	$0	$0
BLAIR HILDEBRANDT	DIRECTOR	0.50	Director	$0	$0	$0
MARCIA BENNETT	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTINA HANSEN COHEN	DIRECTOR	0.50	Director	$0	$0	$0
KRISTI ANDERSON	DIRECTOR	0.50	Director	$0	$0	$0
ASHLEY JUNGHANS-RUTELONIS	DIRECTOR	0.50	Director	$0	$0	$0
BRIE PILEGGI	DIRECTOR	0.50	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	$315,702	$340,617	$310,135	$-24,915
2023	$281,450	$276,888	$329,756	$4,562
2022	$321,204	$289,751	$328,989	$31,453
2021	$272,339	$241,332	$315,458	$31,007
2020	$244,320	$242,427	$271,226	$1,893
2019	$278,200	$275,869	$261,820	$2,331