MINNESOTA TECHNOLOGY FOUNDATION INC

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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

1987

Legal Domicile

Principal Officer

JEFF TOLLEFSON

Phone

9522304555

Tax Period

2024-01-01 to 2024-12-31

MINNESOTA TECHNOLOGY FOUNDATION INC, founded in 1987, is a small nonprofit that reported $247K in total revenue in fiscal year 2024. Revenue decreased 19% compared to the prior year. Expenses of $385K exceeded revenue, resulting in a 56% operating deficit.

Mission

THE MINNESOTA TECHNOLOGY FOUNDATION'S MISSION IS TO BUILD AND FOSTER A THRIVING STEM WORKFORCE IN MINNESOTA.

Program Service Accomplishments

Program 1

Expenses: $169,208 Revenue: $17,000

FISCAL AGENCY PROGRAMS:3M TWIST PROGRAM - THE FOUNDATION IS A FISCAL AGENT FOR AN EDUCATION PROGRAM SUPPORTED BY 3M. THE FOUNDATION PROCESSED PAYMENTS IN THE AMOUNT OF APPROXIMATELY $169,000 IN 2024...

Program 2

Expenses: $110,571 Revenue: $0

LAUNCHED IN FALL 2023, THE MINNESOTA ASPIRATIONS IN COMPUTING (MNAIC) PROGRAM SUPPORTS YOUNG WOMEN IN EXPLORING AND PURSUING CAREERS IN TECHNOLOGY. LED BY THE MINNESOTA TECHNOLOGY FOUNDATION, THE...

LAUNCHED IN FALL 2023, THE MINNESOTA ASPIRATIONS IN COMPUTING (MNAIC) PROGRAM SUPPORTS YOUNG WOMEN IN EXPLORING AND PURSUING CAREERS IN TECHNOLOGY. LED BY THE MINNESOTA TECHNOLOGY FOUNDATION, THE PROGRAM OFFERS HIGH SCHOOL STUDENTS ACCESS TO AWARDS, PAID INTERNSHIPS, MENTORSHIP, JOB SHADOWING, SCHOLARSHIPS, AND HANDS-ON LEARNING EXPERIENCES. MNAIC IS DESIGNED TO DEVELOP TECHNICAL, LEADERSHIP, AND ENTREPRENEURIAL SKILLS WHILE EXPANDING PATHWAYS FOR YOUNG WOMEN IN COMPUTING. A CORNERSTONE OF THE PROGRAM IS THE AWARD FOR ASPIRATIONS IN COMPUTING, OPEN TO STUDENTS IN GRADES 9 THROUGH 12.MNAIC IS ONE OF MANY REGIONAL AFFILIATES OF THE NATIONAL CENTER FOR WOMEN & INFORMATION TECHNOLOGY (NCWIT), WHICH PROVIDES PROGRAM GUIDANCE AND SUPPORT. THIS PARTNERSHIP ENSURES THAT MINNESOTA AWARD RECIPIENTS ARE ELIGIBLE FOR NATIONAL RECOGNITION THROUGH NCWIT'S ASPIRATIONS IN COMPUTING PROGRAM.

Program 3

Expenses: $9,000

SCHOLARSHIP PROGRAMS:THE FOUNDATION MANAGES SEVERAL SCHOLARSHIPS RELATED TO ITS PROGRAMS. SCHOLARSHIPS WERE AWARDED THROUGH THE ASPIRATIONS IN COMPUTING PROGRAM AND THE WOMEN LEADING IN TECHNOLOGY...

SCHOLARSHIP PROGRAMS:THE FOUNDATION MANAGES SEVERAL SCHOLARSHIPS RELATED TO ITS PROGRAMS. SCHOLARSHIPS WERE AWARDED THROUGH THE ASPIRATIONS IN COMPUTING PROGRAM AND THE WOMEN LEADING IN TECHNOLOGY PROGRAM. BOTH PROGRAMS RAISED FUNDS THAT ARE MANAGED BY THE FOUNDATION FOR SCHOLARSHIPS TO COLLEGE WOMEN IN STEM DEGREE PROGRAMS AND ALSO NON-COLLEGE BOOTCAMPS THAT TRAIN WOMEN IN VARIOUS STEM PROGRAM AREA'S. SCHOLARSHIPS ARE AWARDED BASED ON FUNDS RAISED.

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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 $230,064

Program Service Revenue $17,000

Investment Income $0

Other Revenue $0

TOTAL REVENUE $247,064

Expense Breakdown

Grants Paid $9,000

Salaries & Benefits $0

Fundraising Expenses $48,567

Program Expenses $288,779

Other Expenses $376,212

TOTAL EXPENSES $385,212

Year-over-Year Comparison

	2024	2023	Change
Revenue	$247,064	$303,864	-0.2%
Expenses	$385,212	$283,921	+0.4%
Net Income	$-138,148	$19,943	-7.9%

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

150

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
JEFF TOLLEFSON	MTA PRESIDENT/CEO	2.00	Officer Director	$0	$0	$0
KAREN HUDSON	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
DOUGLAS CARVINAL	BOARD SECRETARY	2.00	Officer Director	$0	$0	$0
RACHEL POLSON	BOARD TREASURER	2.00	Officer Director	$0	$0	$0
ED FOPPE	DIRECTOR	2.00	Director	$0	$0	$0
AMY PATTON	DIRECTOR	2.00	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	$247,064	$385,212	$250,260	$-138,148
2023	$303,864	$283,921	$477,616	$19,943
2022	$220,273	$496,739	$503,211	$-276,466
2021	$375,492	$206,460	$600,393	$169,032
2019	$375,690	$359,913	$570,828	$15,777
2018	$436,501	$409,359	$550,538	$27,142