Fresh Air Inc

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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

1973

Legal Domicile

Principal Officer

Nora Doherty

Phone

6128874343

Tax Period

2024-01-01 to 2024-12-31

Fresh Air Inc, founded in 1973, is a small nonprofit in the Arts, Culture & Humanities sector that reported $969K in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $154K, a strong 16% operating margin.

Mission

KFAI is a volunteer-based community radio station that exists to broadcast information, arts and entertainment programming for an audience of diverse racial, social and economic backgrounds. By providing a voice for people ignored or misrepresented by mainstream media, KFAI increases understanding between peoples and communities, while fostering the values of democracy and social justice.

Program Service Accomplishments

Program 1

Expenses: $189,965 Revenue: $116,716

Community Core Building: In 2024, KFAI advanced a multi-phase initiative to strengthen our organizational culture, governance, and community connections. We refined roles, policies, and procedures...

Community Core Building: In 2024, KFAI advanced a multi-phase initiative to strengthen our organizational culture, governance, and community connections. We refined roles, policies, and procedures; began developing enforceable community agreements; and increased organizational transparency. This work fosters cross-department collaboration and clarity, builds trust, and centers accessibility, dependability, mutuality, and collective well-being - creating a more inclusive and innovative KFAI ecosystem.

Program 2

Expenses: $156,349

Community Empowerment & Collective Action: Based in Cedar-Riverside/West Bank - home to the largest Somali community in the U.S. and Minnesota's most culturally diverse neighborhood - KFAI builds...

Community Empowerment & Collective Action: Based in Cedar-Riverside/West Bank - home to the largest Somali community in the U.S. and Minnesota's most culturally diverse neighborhood - KFAI builds community on and off the air. We produce and sponsor arts, entertainment, and cultural events across the Twin Cities, and broadcast in nine languages, with programming led by and for immigrant and underserved communities.

Program 3

Expenses: $138,951

Collective & Reflexive Broadcasting: KFAI is powered by community leaders whose passion bridges cultural and generational divides. Our 24/7 broadcast features 86 shows in 10 languages - 84 produced live and local in-house - alongside community arts, entertainment, and cultural events across the Twin Cities. Nearly half of our programs are led by members of overlapping diasporas and the LGBTQIA2S+ community, making KFAI one of Minnesota's most culturally rich and generationally diverse media outlets.

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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 $847,870

Program Service Revenue $116,716

Investment Income $4,448

Other Revenue $0

TOTAL REVENUE $969,034

Expense Breakdown

Grants Paid $0

Salaries & Benefits $299,735

Fundraising Expenses $171,263

Program Expenses $485,265

Other Expenses $515,342

TOTAL EXPENSES $815,077

Year-over-Year Comparison

	2024	2023	Change
Revenue	$969,034	$795,016	+0.2%
Expenses	$815,077	$686,984	+0.2%
Net Income	$153,957	$108,032	+0.4%

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

233

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

$74,077

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kevin Barnes	President	1.00	Officer Director	$0	$0	$0
Heather Haynes	Vice President	1.00	Officer Director	$0	$0	$0
Jacque Pokorney	Treasurer	1.00	Officer Director	$0	$0	$0
Christopher Zimmerman	Secretary	1.00	Officer Director	$0	$0	$0
TJ Larson	Board Member	1.00	Director	$0	$0	$0
Marvin Martin	Board Member	1.00	Director	$0	$0	$0
Michael Milligan	Board Member	1.00	Director	$0	$0	$0
Nora Doherty	General Manager & Executiv	40.00	Officer	$74,077	$0	$74,077

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	$969,034	$815,077	$1,463,033	$153,957
2023	$795,016	$686,984	$1,281,334	$108,032
2022	$898,420	$766,939	$1,215,025	$131,481
2021	$1,240,335	$766,403	$1,090,041	$473,932
2020	$1,044,523	$587,668	$614,964	$456,855
2019	$641,624	$694,364	$222,690	$-52,740
2018	$735,891	$797,671	$235,851	$-61,780