MINNESOTA BLUEGRASS AND OLD TIME MUSIC ASSOCIATION (EIN 363336499) - 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

1979

Legal Domicile

Principal Officer

Penelope Hillemann

Phone

6122168624

Tax Period

2023-10-01 to 2024-09-30

MINNESOTA BLUEGRASS AND OLD TIME MUSIC ASSOCIATION, founded in 1979, is a small nonprofit that reported $313K in total revenue in fiscal year 2023. Expenses of $381K exceeded revenue, resulting in a 22% operating deficit.

Mission

To preserve and promote bluegrass and old-time stringband music in and around Minnesota.

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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 (2023)

Revenue Breakdown

Contributions & Grants $75,215

Program Service Revenue $213,601

Investment Income $3,936

Other Revenue $20,034

TOTAL REVENUE $312,786

Expense Breakdown

Grants Paid $0

Salaries & Benefits $64,127

Fundraising Expenses $3,615

Program Expenses $327,313

Other Expenses $317,339

TOTAL EXPENSES $381,466

Year-over-Year Comparison

	2023	2022	Change
Revenue	$312,786	$305,590	+0.0%
Expenses	$381,466	$301,065	+0.3%
Net Income	$-68,680	$4,525	-16.2%

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

250

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

$29,776

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ross Willits	Executive Director	40	Officer	$29,776	$0	$29,776
Lucy Weberling	Director	1	Director	$0	$0	$0
Dale Gruber	Director	3	Director	$0	$0	$0
George Rothenberger	Director	2	Director	$0	$0	$0
Edie Loy	Director	1	Director	$0	$0	$0
Rudolph Marti	Director	3	Director	$0	$0	$0
Marty Marrone	Director	1	Director	$0	$0	$0
Kim Curtis-Monson	Director	1	Director	$0	$0	$0
Nathan Ertl	Director	1	Director	$0	$0	$0
Evonne Bilotta-Burke	Director	1	Director	$0	$0	$0
Penelope Hillemann	President	1	Officer Director	$0	$0	$0
Brett Day	Vice President	1	Officer Director	$0	$0	$0
Russell Lane	Treasurer	1	Officer Director	$0	$0	$0
Sophie Galep	Secretary	3	Officer 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	$312,786	$381,466	$292,444	$-68,680
2023	$305,590	$301,065	$333,005	$4,525
2022	$378,486	$339,057	$325,538	$39,429
2021	$408,107	$257,225	$289,670	$150,882
2020	$149,730	$147,790	$147,067	$1,940

MINNESOTA BLUEGRASS AND OLD TIME MUSIC ASSOCIATION