MIDWESTERN GOVERNORS 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

2011

Legal Domicile

Principal Officer

JESSE HEIER

Phone

2025677690

Tax Period

2024-01-01 to 2024-12-31

MIDWESTERN GOVERNORS ASSOCIATION, founded in 2011, is a community nonprofit in the Public & Societal Benefit sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 347% from the prior year, signaling strong growth momentum. The organization ran a surplus of $395K, a strong 35% operating margin.

Mission

TO BRING TOGETHER GOVERNORS AND THEIR STAFF TO WORK COOPERATIVELY ON PUBLIC POLICY ISSUES OF SIGNIFICANCE TO THE REGION. MGA PROVIDES MEMBERSHIP OPPORTUNITIES TO ORGANIZATIONS TO SUPPORT ACTIVITIES AND EVENTS.

Program Service Accomplishments

Program 1

Expenses: $591,832 Revenue: $9,373

CHAIR'S AGENDA - EACH YEAR, THE MGA LEADS A "CHAIR'S INITIATIVE," WHICH IS SELECTED BY THE MGA CHAIR. MOST RECENTLY, THE MGA HAS TACKLED THE ISSUES OF REDUCING POVERTY AND EXPANDING OPPORTUNITIES...

CHAIR'S AGENDA - EACH YEAR, THE MGA LEADS A "CHAIR'S INITIATIVE," WHICH IS SELECTED BY THE MGA CHAIR. MOST RECENTLY, THE MGA HAS TACKLED THE ISSUES OF REDUCING POVERTY AND EXPANDING OPPORTUNITIES, STRENGTHENING THE PROPANE SUPPLY CHAIN, AND REDUCING THE SPREAD OF AQUATIC INVASIVE SPECIES. THE CHAIR'S AGENDA TYPICALLY CONSISTS OF A WORKING GROUP COMPRISED OF STATE STAFF, INDUSTRY LEADERS, AND RELEVANT STAKEHOLDERS, AND THE GROUP HOLDS REGULAR CONFERENCE CALLS, AS WELL AS IN-PERSON MEETING(S) DURING THE CHAIR'S TERM.

Program 2

Expenses: $69,085 Revenue: $115,000

STAFF ADVISORY COMMITTEE - THE MGA STAFF ADVISORY COMMITTEE (SAC) SUPPORTS THE EXECUTIVE COMMITTEE ON BEHALF OF THE REGION'S GOVERNORS. APPOINTED BY THEIR RESPECTIVE GOVERNORS, COMMITTEE MEMBERS...

STAFF ADVISORY COMMITTEE - THE MGA STAFF ADVISORY COMMITTEE (SAC) SUPPORTS THE EXECUTIVE COMMITTEE ON BEHALF OF THE REGION'S GOVERNORS. APPOINTED BY THEIR RESPECTIVE GOVERNORS, COMMITTEE MEMBERS INCLUDE MIDWESTERN CHIEF EXECUTIVES' TOP POLICY ADVISORS. THE SAC MAINTAINS AN ONGOING INTERSTATE DIALOGUE TO IDENTIFY THE MOST PRESSING ISSUES FACING THE REGION AND OVERSEES THE DEVELOPMENT OF COOPERATIVE EFFORTS AND JOINT POLICY STATEMENTS.

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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 $991,126

Program Service Revenue $124,373

Investment Income $16,337

Other Revenue $0

TOTAL REVENUE $1,131,836

Expense Breakdown

Grants Paid $0

Salaries & Benefits $344,498

Fundraising Expenses $0

Program Expenses $660,917

Other Expenses $392,656

TOTAL EXPENSES $737,154

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,131,836	$253,484	+3.5%
Expenses	$737,154	$270,637	+1.7%
Net Income	$394,682	$-17,153	-24.0%

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

$164,092

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JESSE HEIER	EXECUTIVE DIRECTOR	40.00	Officer	$131,017	$33,075	$164,092
JEFFREY EWART	DEPUTY DIRECTOR	40.00	Highest	$123,635	$21,440	$145,075
JB PRITZKER	CHAIR	1.00	Officer Director	$0	$0	$0
TIM WALZ	IMMEDIATE PAST CHAIR	1.00	Officer Director	$0	$0	$0
KIM REYNOLDS	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAEL PARSON	BOARD MEMBER	1.00	Director	$0	$0	$0
ERIC HOLCOMB	BOARD MEMBER	1.00	Director	$0	$0	$0
LAURA KELLY	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE DEWINE	BOARD MEMBER	1.00	Director	$0	$0	$0
GRETCHEN WHITMER	BOARD MEMBER	1.00	Director	$0	$0	$0
KRISTI NOEM	BOARD MEMBER	1.00	Director	$0	$0	$0
TONY EVERS	BOARD MEMBER	1.00	Director	$0	$0	$0
JIM PILLEN	BOARD MEMBER	1.00	Director	$0	$0	$0
KELLY ARMSTRONG	BOARD MEMBER AS OF DECEMBER	1.00	Director	$0	$0	$0
DOUG BURGUM	BOARD MEMBER UNTIL DECEMBER	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	$1,131,836	$737,154	$912,774	$394,682
2023	$253,484	$270,637	$518,092	$-17,153
2022	$391,876	$197,658	$540,913	$194,218
2021	$326,686	$154,666	$406,901	$172,020
2019	$352,134	$360,032	$273,471	$-7,898
2018	$356,668	$345,466	$264,426	$11,202