LAKE SUPERIOR COLLEGE FOUNDATION INC (EIN 363257072) - 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

1980

Legal Domicile

Principal Officer

DAVID KLINE

Phone

2187337707

Tax Period

2024-07-01 to 2025-06-30

LAKE SUPERIOR COLLEGE FOUNDATION INC, founded in 1980, is a small nonprofit that reported $649K in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $154K, a strong 24% operating margin.

Mission

PROVIDE FINANCIAL SUPPORT TO PROMOTE THE EDUCATIONAL, CULTURAL, SCIENTIFIC, AND CHARITABLE ACTIVITIES OF LAKE SUPERIOR COLLEGE IN DULUTH, MN.

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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 $425,665

Program Service Revenue $0

Investment Income $223,790

Other Revenue $0

TOTAL REVENUE $649,455

Expense Breakdown

Grants Paid $435,899

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $435,899

Other Expenses $59,667

TOTAL EXPENSES $495,566

Year-over-Year Comparison

	2024	2023	Change
Revenue	$649,455	$579,900	+0.1%
Expenses	$495,566	$623,491	-0.2%
Net Income	$153,889	$-43,591	-4.5%

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

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 WATTERS	CHAIR	1.00	Officer Director	$0	$0	$0
BRIAN FORCIER	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CARL CRAWFORD	PAST CHAIR	1.00	Officer Director	$0	$0	$0
JON BIRKLAND	TREASURER	1.00	Officer Director	$0	$0	$0
AUTUMN JOHNSON	SECRETARY	1.00	Officer Director	$0	$0	$0
RICK FLAHERTY	DIRECTOR	1.00	Director	$0	$0	$0
THERESA HANNU	DIRECTOR	1.00	Director	$0	$0	$0
TRAVIS JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
VANCE OKSTAD	DIRECTOR	1.00	Director	$0	$0	$0
VINOD GUPTA	DIRECTOR	1.00	Director	$0	$0	$0
DAVID KLINE	EXECUTIVE DI	40.00	Officer	$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	$649,455	$495,566	$2,280,135	$153,889
2024	No data	No data	No data	No data
2023	$389,549	$482,487	$1,942,328	$-92,938
2022	$1,136,101	$390,916	$1,963,501	$745,185
2021	$513,738	$454,876	$1,360,272	$58,862
2020	$406,478	$514,062	$1,144,944	$-107,584
2019	$718,686	$740,845	$1,238,788	$-22,159
2018	$700,336	$813,482	$1,061,099	$-113,146

LAKE SUPERIOR COLLEGE FOUNDATION INC