AREA PARTNERSHIP FOR ECONOMIC EXPANSION

EIN: 320079166 Community Improvement

DULUTH, MN

Total Revenue
$833,326
Total Expenses
$733,116
Total Assets
$694,336
Net Assets
$422,084
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
MN
Principal Officer
RACHEL JOHNSON
Phone
2187403667
Tax Period
2023-01-01 to 2023-12-31

AREA PARTNERSHIP FOR ECONOMIC EXPANSION, founded in 2003, is a small nonprofit in the Community Improvement sector that reported $833K in total revenue in fiscal year 2023. Expenses of $733K left a modest 12% surplus.

Mission

PROMOTE AND DEVELOP ECONOMIC EXPANSION IN DULUTH AND NORTHEASTERN MN AND NORTHWESTERN WISCONSIN. THE ORGANIZATION LEASD REGIONLA RESEARCH EFFORTS RELATED TO HUMAN RESOURCES, AND EMERGING INDUSTRIES TO INFORM BUSINESS DEBELOPMENT AND BUSINESS RECRUITING ACTIVITIES.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $724,750
Program Service Revenue $95,521
Investment Income $13,055
Other Revenue $0
TOTAL REVENUE $833,326

Expense Breakdown

Grants Paid $0
Salaries & Benefits $440,546
Fundraising Expenses $0
Program Expenses $733,116
Other Expenses $292,570
TOTAL EXPENSES $733,116

Year-over-Year Comparison

2023 2022 Change
Revenue $833,326 $822,306 +0.0%
Expenses $733,116 $826,988 -0.1%
Net Income $100,210 $-4,682 -22.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
10
Independent Members
10
Employees
4
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
6
$162,616
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RACHEL JOHNSON CEO/PRESIDEN 40.00
Officer
$158,116 $4,500 $162,616
BRAD BEARD SECRETARY 1.00
Officer Director
$0 $0 $0
LISA BODINE PAST CHAIR 1.00
Officer Director
$0 $0 $0
MIKE BOESELAGER TREASURER 1.00
Officer Director
$0 $0 $0
DEB DELUCA AT LARGE MEM 1.00
Director
$0 $0 $0
CRAIG FELLMAN AT LARGE MEM 1.00
Director
$0 $0 $0
FRANK FREDERICKSON CHAIR 1.00
Officer Director
$0 $0 $0
KEN JOHNSON AT LARGE MEM 1.00
Director
$0 $0 $0
LORRAINE LITTLE VICE CHAIR 1.00
Officer Director
$0 $0 $0
DAVID MCMILLIAN AT LARGE MEM 1.00
Director
$0 $0 $0
BRIAN THUN AT LARGE MEM 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 No data No data No data No data
2023 $833,326 $733,116 $694,336 $100,210
2022 $822,306 $826,988 $463,783 $-4,682
2021 $893,820 $846,239 $746,724 $47,581
2020 $824,200 $779,475 $660,565 $44,725
2019 $858,003 $860,009 $522,678 $-2,006
2018 $844,255 $845,256 $568,357 $-1,001
Explore More Nonprofits
→Top 100 Nonprofits in Minnesota →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare AREA PARTNERSHIP FOR ECONOMIC EXPANSION with other nonprofits in Minnesota and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.