MICHIGAN LUTHERAN SEMINARY FOUNDATION (EIN 352159001) - Form 990 Financial Analysis & Trantor Score

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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

2021

Legal Domicile

Principal Officer

JOSHUA WAKEFIELD

Phone

9897931010

Tax Period

2024-07-01 to 2025-06-30

MICHIGAN LUTHERAN SEMINARY FOUNDATION, founded in 2021, is a small nonprofit in the Religion sector that reported $821K in total revenue in fiscal year 2024. Revenue surged 32% from the prior year, signaling strong growth momentum. The organization ran a surplus of $393K, a strong 48% operating margin.

Mission

SEE STATEMENT

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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 $652,732

Program Service Revenue $0

Investment Income $99,348

Other Revenue $68,719

TOTAL REVENUE $820,799

Expense Breakdown

Grants Paid $127,149

Salaries & Benefits $226,743

Fundraising Expenses $19,820

Program Expenses $309,141

Other Expenses $74,265

TOTAL EXPENSES $428,157

Year-over-Year Comparison

	2024	2023	Change
Revenue	$820,799	$619,709	+0.3%
Expenses	$428,157	$458,867	-0.1%
Net Income	$392,642	$160,842	+1.4%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL SCHARRER	PRESIDENT	1.00	Officer Director	$0	$0	$0
CHRIS KESTNER	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
LEE MILLER	TREASURER	1.00	Officer Director	$0	$0	$0
MIKE WILTSE	SECRETARY	1.00	Officer Director	$0	$0	$0
DAVID EDDY	BOARD MEMBER	1.00	Director	$0	$0	$0
KELLY EDDY	BOARD MEMBER	1.00	Director	$0	$0	$0
RON SCHREINER	BOARD MEMBER	1.00	Director	$0	$0	$0
BARB SCHREINER	BOARD MEMBER	1.00	Director	$0	$0	$0
REV JASON BALDWIN	BOARD MEMBER	1.00	Director	$0	$0	$0
JODIE BALDWIN	BOARD MEMBER	1.00	Director	$0	$0	$0
GEORGE BARRETT	BOARD MEMBER	1.00	Director	$0	$0	$0
JULIE BARRETT	BOARD MEMBER	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
2025	$820,799	$428,157	$2,941,607	$392,642
2024	$619,709	$458,867	$2,436,209	$160,842
2023	$596,593	$466,140	$2,299,224	$130,453
2022	$604,739	$461,438	$2,136,063	$143,301
2021	$548,301	$849,847	$2,230,812	$-301,546
2020	$458,077	$477,825	$1,866,804	$-19,748
2019	$482,841	$721,800	$1,822,928	$-238,959

MICHIGAN LUTHERAN SEMINARY FOUNDATION