MIDWESTERN HIGHER EDUCATION COMPACT

EIN: 383011476 501(c)(3) Social Science

MINNEAPOLIS, MN

Total Revenue
$11,146,961
Total Expenses
$7,251,824
Total Assets
$21,719,259
Net Assets
$19,377,008
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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
1991
Legal Domicile
MN
Principal Officer
SUSAN HEEGAARD
Phone
6126772777
Tax Period
2024-07-01 to 2025-06-30

MIDWESTERN HIGHER EDUCATION COMPACT, founded in 1991, is a mid-sized nonprofit in the Social Science sector that reported $11.1M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.9M, a strong 35% operating margin.

Mission

MHEC BRINGS TOGETHER MIDWESTERN STATES TO DEVELOP AND SUPPORT BEST PRACTICES, COLLABORATION EFFORTS, AND COST-SHARING OPPORTUNITIES. THROUGH THESE EFFORTS IT WORKS TO ENSURE STRONG, EQUITABLE POSTSECONDARY EDUCATIONAL OPPORTUNITIES AND OUTCOMES FOR ALL.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,560,523
Program Service Revenue $9,071,172
Investment Income $515,021
Other Revenue $245
TOTAL REVENUE $11,146,961

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,805,089
Fundraising Expenses $3,274
Program Expenses $5,959,342
Other Expenses $4,446,735
TOTAL EXPENSES $7,251,824

Year-over-Year Comparison

2024 2023 Change
Revenue $11,146,961 $9,929,448 +0.1%
Expenses $7,251,824 $4,475,860 +0.6%
Net Income $3,895,137 $5,453,588 -0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
52
Independent Members
52
Employees
20
Volunteers
68

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
6
$596,050
Total Directors
71
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUSAN HEEGAARD PRESIDENT 40.00
Officer
$293,651 $63,134 $356,785
ROBERT TREMBACH CHIEF OPERATING OFFICER 40.00
Officer
$176,548 $62,717 $239,265
JENNIFER PARKS VICE PRESIDENT (THRU 05/25) 40.00
Highest
$154,199 $63,998 $218,197
BREANNE HEGG VICE PRESIDENT 40.00
Highest
$144,764 $46,644 $191,408
MARY ROBERSON SENIOR DIRECTOR 40.00
Highest
$113,150 $39,879 $153,029
AARON HORN ASSOCIATE VICE PRESIDENT 40.00
Highest
$116,126 $24,179 $140,305
NATHAN SORENSEN SENIOR DIRECTOR 40.00
Highest
$108,601 $26,297 $134,898
KATIE STUART BOARD CHAIR 3.00
Officer Director
$0 $0 $0
TIM MIHALICK BOARD VICE CHAIR 3.00
Officer Director
$0 $0 $0
JACOB BOSSMAN BOARD TREASURER 3.00
Officer Director
$0 $0 $0
MIKE DUFFEY PAST BOARD CHAIR 3.00
Officer Director
$0 $0 $0
TIM FLAKOLL EX OFFICIO 3.00
Director
$0 $0 $0
SPENCER DEERY EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
DOTTIE KING EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
GRETA ROUSE EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
BRANDY JOHNSON EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
DENNIS OLSON EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
SCOTT OLSON EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
BLAKE FLANDERS EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
GREG MARKKANEN EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
SAMANTHA DICKEY EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
JOHN CAVANAUGH EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
DEBORAH FRISON EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
BRANDY PYLE EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
JERRY CIRINO EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
LARRY TIDEMANN EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
ERIC FULCOMER EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
DAVID MURPHY EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
OLIVIA MA MADISON EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
DAVID PEARCE EXECUTIVE COMMISSIONER 2.00
Director
$0 $0 $0
PRANAV KOTHARI COMMISSIONER 1.00
Director
$0 $0 $0
BOB BEHNING COMMISSIONER 1.00
Director
$0 $0 $0
MATT BUTLER COMMISSIONER 1.00
Director
$0 $0 $0
TIMOTHY FITZGIBBON COMMISSIONER 1.00
Director
$0 $0 $0
CINDY WINCKLER COMMISSIONER 1.00
Director
$0 $0 $0
JESSE GREEN COMMISSIONER 1.00
Director
$0 $0 $0
AARON OTTO COMMISSIONER 1.00
Director
$0 $0 $0
DANIEL HURLEY COMMISSIONER 1.00
Director
$0 $0 $0
SEAN MCCANN COMMISSIONER 1.00
Director
$0 $0 $0
EMMY YOUNG COMMISSIONER 1.00
Director
$0 $0 $0
OMAR FATEH COMMISSIONER 1.00
Director
$0 $0 $0
MONICA KURTH COMMISSIONER 1.00
Director
$0 $0 $0
SUSAN THOMPSON COMMISSIONER 1.00
Director
$0 $0 $0
CURTIS TRENT COMMISSIONER 1.00
Director
$0 $0 $0
GRANT LATIMER COMMISSIONER 1.00
Director
$0 $0 $0
JEFF TAYLOR COMMISSIONER 1.00
Director
$0 $0 $0
GARY CATES COMMISSIONER 1.00
Director
$0 $0 $0
KYLE DAVISON COMMISSIONER 1.00
Director
$0 $0 $0
TOM YOUNG COMMISSIONER 1.00
Director
$0 $0 $0
NATHAN LUKKES COMMISSIONER 1.00
Director
$0 $0 $0
JESSICA HANSON COMMISSIONER 1.00
Director
$0 $0 $0
JULIE UNDERWOOD COMMISSIONER 1.00
Director
$0 $0 $0
RAJ SINGH COMMISSIONER 1.00
Director
$0 $0 $0
CHRIS BROWN COMMISSIONER 1.00
Director
$0 $0 $0
MATTHEW BLOMSTEDT COMMISSIONER 1.00
Director
$0 $0 $0
JANA HUGHES COMMISSIONER 1.00
Director
$0 $0 $0
BRENT SANFORD COMMISSIONER 1.00
Director
$0 $0 $0
C TODD JONES COMMISSIONER 1.00
Director
$0 $0 $0
ANDRE JACQUE COMMISSIONER 1.00
Director
$0 $0 $0
MAUREEN BANKS EXECUTIVE COMMISSIONER (THRU 6/25) 2.00
Director
$0 $0 $0
MICHAEL HALPIN COMMISSIONER (THRU 1/25) 1.00
Director
$0 $0 $0
RONALD ROCHON COMMISSIONER (THRU 7/24) 1.00
Director
$0 $0 $0
MOLLY BAUMGARDNER COMMISSIONER (THRU 1/25) 1.00
Director
$0 $0 $0
MINT WINTER COMMISSIONER (THRU 6/25) 1.00
Director
$0 $0 $0
RACHEL CROSON COMMISSIONER (THRU 1/25) 1.00
Director
$0 $0 $0
GENE PELOWSKI JR COMMISSIONER (THRU 1/25) 1.00
Director
$0 $0 $0
CHRIS KABOUREK COMMISSIONER (THRU 10/24) 1.00
Director
$0 $0 $0
LYNNE WALZ COMMISSIONER (THRU 1/25) 1.00
Director
$0 $0 $0
JACK HERSHEY COMMISSIONER (THRU 1/25) 1.00
Director
$0 $0 $0
STEVE KOLBECK COMMISSIONER (THRU 12/24) 1.00
Director
$0 $0 $0
TYLER TORDSEN COMMISSIONER (THRU 12/24) 1.00
Director
$0 $0 $0
JOAN BALLWAG COMMISSIONER (THRU 1/25) 1.00
Director
$0 $0 $0
MARK HAGEROTT COMMISSIONER (THRU 4/25) 1.00
Director
$0 $0 $0
MICHAEL CARTNEY COMMISSIONER (THRU 12/24) 1.00
Director
$0 $0 $0
TAMMIE DEVOOGHT COMMISSIONER (THRU 7/25) 1.00
Director
$0 $0 $0
CAROL GLANVILLE COMMISSIONER (THRU 12/24) 1.00
Director
$0 $0 $0
BRAD CHRIST COMMISSIONER (THRU 7/24) 1.00
Director
$0 $0 $0
KEN SAUER COMMISSIONER (THRU 1/25) 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 $11,146,961 $7,251,824 $21,719,259 $3,895,137
2024 $9,929,448 $4,475,860 $18,184,607 $5,453,588
2023 $8,521,915 $3,974,756 $12,344,634 $4,547,159
2022 $4,779,370 $4,463,350 $6,708,923 $316,020
2021 $5,714,621 $3,973,735 $6,945,692 $1,740,886
2020 $3,994,652 $3,594,538 $5,203,437 $400,114
2019 $3,725,493 $3,482,129 $4,566,682 $243,364
2018 $3,386,637 $3,533,609 $4,623,311 $-146,972
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