GREATER MINNEAPOLIS CONVENTION AND VISITORS ASSOCIATION (EIN 363568407) - 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

1987

Legal Domicile

Principal Officer

SANDY CHRISTENSEN

Phone

6127678090

Tax Period

2024-01-01 to 2024-12-31

GREATER MINNEAPOLIS CONVENTION AND VISITORS ASSOCIATION, founded in 1987, is a mid-sized nonprofit that reported $13.5M in total revenue in fiscal year 2024.

Mission

AT MEET MINNEAPOLIS, OUR MISSION IS TO POSITIVELY IMPACT THE ECONOMIC AND SOCIAL PROSPERITY OF OUR MINNEAPOLIS COMMUNITY. BY ATTRACTING VISITORS, MEETINGS AND EVENTS, OUR WORK DIRECTLY SUPPORTS LOCAL WORKERS AND BUSINESSES, AND GENERATES CRITICAL REVENUES.

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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 $12,371,406

Program Service Revenue $1,067,723

Investment Income $83,866

Other Revenue $0

TOTAL REVENUE $13,522,995

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,734,850

Fundraising Expenses $0

Program Expenses $10,516,914

Other Expenses $6,953,155

TOTAL EXPENSES $14,688,005

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,522,995	$13,673,742	0.0%
Expenses	$14,688,005	$16,283,453	-0.1%
Net Income	$-1,165,010	$-2,609,711	-0.6%

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

100

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

$662,659

Total Directors

$408,785

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MELVIN TENNANT	PRESIDENT	40.00	Officer Director	$382,350	$26,435	$408,785
ROBERT LILLIGREN	CHAIR	4.00	Officer Director	$0	$0	$0
TABITHA MONTGOMERY	VICE CHAIR	4.00	Officer Director	$0	$0	$0
MICHAEL CLARK	SECRETARY/TREASURER	4.00	Officer Director	$0	$0	$0
LESTER BAGLEY	IMMEDIATE PAST CHAIR	4.00	Officer Director	$0	$0	$0
LARRY ABDO	BOARD MEMBER	1.00	Director	$0	$0	$0
ANN AHMED	BOARD MEMBER	1.00	Director	$0	$0	$0
MARGARET ANDERSON KELLIHER	BOARD MEMBER	1.00	Director	$0	$0	$0
AL BANGOURA	BOARD MEMBER	1.00	Director	$0	$0	$0
JARED BREWINGTON	BOARD MEMBER	1.00	Director	$0	$0	$0
SHELLEY BUCK	BOARD MEMBER	1.00	Director	$0	$0	$0
KATIE CASHMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
ADAM DUININCK	BOARD MEMBER	1.00	Director	$0	$0	$0
HEATHER EDELSON	BOARD MEMBER	1.00	Director	$0	$0	$0
KIP ELLIOTT	BOARD MEMBER	1.00	Director	$0	$0	$0
IRENE FERNANDO	BOARD MEMBER	1.00	Director	$0	$0	$0
JACOB FREY	BOARD MEMBER	1.00	Director	$0	$0	$0
CHELSIE GLAUBITZ GABIOU	BOARD MEMBER	1.00	Director	$0	$0	$0
ANDREA JENKINS	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFF JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
LESLEY KANDARAS	BOARD MEMBER	1.00	Director	$0	$0	$0
EMILY KOSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE LOGAN	BOARD MEMBER	1.00	Director	$0	$0	$0
KATIE LUBER	BOARD MEMBER	1.00	Director	$0	$0	$0
WADE LUNEBERG	BOARD MEMBER	1.00	Director	$0	$0	$0
JULIE MANNING	BOARD MEMBER	1.00	Director	$0	$0	$0
AARON MCDOUGLE	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE NOBLE	BOARD MEMBER	1.00	Director	$0	$0	$0
ANDREA MOKROS	BOARD MEMBER	1.00	Director	$0	$0	$0
YOOM NGUYEN	BOARD MEMBER	1.00	Director	$0	$0	$0
ELLIOTT PAYNE	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL RAINVILLE	BOARD MEMBER	1.00	Director	$0	$0	$0
JENNIFER RIDGEWAY	BOARD MEMBER	1.00	Director	$0	$0	$0
RT RYBAK	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN RYKS	BOARD MEMBER	1.00	Director	$0	$0	$0
MIKE VEKICH	BOARD MEMBER	1.00	Director	$0	$0	$0
LATRISHA VETAW	BOARD MEMBER	1.00	Director	$0	$0	$0
GRACE WALTZ	BOARD MEMBER	1.00	Director	$0	$0	$0
SANDRA CHRISTENSEN	SVP FINANCE & BUSINESS OPS	40.00	Officer	$215,548	$38,326	$253,874
COURTNEY RIES	SVP DESTINATION BRANDING & STRATEGY	40.00	Highest	$232,365	$14,109	$246,474
WILLIAM DEEF	SVP PUBLIC AFFAIRS	40.00	Highest	$170,987	$14,566	$185,553
MADONNA CARR	VP DESTINATION SERVICES	40.00	Highest	$160,070	$9,603	$169,673
CHRISTY LOY	SVP DESTINATION SALES	40.00	Highest	$207,555	$17,423	$224,978
KAJ VAJ	VP EDIA	40.00	Highest	$148,309	$10,264	$158,573

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	$13,522,995	$14,688,005	$6,062,166	$-1,165,010
2023	$13,673,742	$16,283,453	$7,805,859	$-2,609,711
2022	$12,764,519	$14,271,865	$10,678,288	$-1,507,346
2021	$11,529,520	$9,959,677	$9,011,213	$1,569,843
2020	$11,038,914	$9,339,169	$7,706,242	$1,699,745
2019	$12,960,859	$12,455,645	$7,159,240	$505,214
2018	$12,909,237	$11,826,224	$7,177,542	$1,083,013

GREATER MINNEAPOLIS CONVENTION AND VISITORS ASSOCIATION