Latvian Organization Association of Minnesota (EIN 383660467) - 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

2002

Legal Domicile

Principal Officer

Vilnis Stolcers

Phone

6127511679

Tax Period

2022-01-01 to 2022-12-31

Latvian Organization Association of Minnesota, founded in 2002, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $30K in total revenue in fiscal year 2022. Revenue surged 707% from the prior year, signaling strong growth momentum. Expenses of $73K exceeded revenue, resulting in a 140% operating deficit.

Mission

Organized exclusively for charitable purposes to encourage, support, maintain, and promote Latvian culture and language.

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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 (2022)

Revenue Breakdown

Contributions & Grants $25,535

Program Service Revenue $0

Investment Income $4,808

Other Revenue $0

TOTAL REVENUE $30,343

Expense Breakdown

Grants Paid $66,113

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $67,552

Other Expenses $6,742

TOTAL EXPENSES $72,855

Year-over-Year Comparison

	2022	2021	Change
Revenue	$30,343	$3,761	+7.1%
Expenses	$72,855	$5,915	+11.3%
Net Income	$-42,512	$-2,154	+18.7%

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

N/A

Employees

N/A

Volunteers

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
Maija Zaeska	Chairperson	5	Officer Director	$0	$0	$0
Ansis Viksnins	Vice Chair	5	Officer Director	$0	$0	$0
Elga Pone	Secretary	5	Officer Director	$0	$0	$0
Janis Dimants	Individual Trustee	2	Director	$0	$0	$0
Egons Dunens	Individual Trustee	2	Director	$0	$0	$0
Liga Lacis	Individual Trustee	2	Director	$0	$0	$0
Baiba Olinger	Individual Trustee	2	Director	$0	$0	$0
Mara Pelecis	Individual Trustee	2	Director	$0	$0	$0
Sarma Straumanis	Individual Trustee	2	Director	$0	$0	$0
Vilnis Stolcers	Treasurer	5	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
2022	$30,343	$72,855	$564,152	$-42,512
2018	$34,672	$58,232	$506,388	$-23,560

Latvian Organization Association of Minnesota