FRIENDS OF NORWEGIAN CULTURE INC (EIN 391399209) - 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

1995

Legal Domicile

Principal Officer

ERIC OLSTAD

Phone

6088730909

Tax Period

2023-01-01 to 2023-12-31

FRIENDS OF NORWEGIAN CULTURE INC, founded in 1995, is a small nonprofit in the Arts, Culture & Humanities sector that reported $168K in total revenue in fiscal year 2023. Revenue surged 22% from the prior year, signaling strong growth momentum. The organization ran a surplus of $151K, a strong 90% operating margin.

Mission

PROVIDE EDUCATION ENTERTAINMENT SERVICES TO PROMOTE NORWEGIAN CULTURE

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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 $72,299

Program Service Revenue $0

Investment Income $32,011

Other Revenue $63,675

TOTAL REVENUE $167,985

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $17,438

Other Expenses $17,438

TOTAL EXPENSES $17,438

Year-over-Year Comparison

	2023	2022	Change
Revenue	$167,985	$137,132	+0.2%
Expenses	$17,438	$132,210	-0.9%
Net Income	$150,547	$4,922	+29.6%

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

N/A

Volunteers

N/A

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
ERIC OLSTAD	PRESIDENT	001.00	Officer Director	$0	$0	$0
TODD MOE	VICE PRESIDENT	001.00	Officer Director	$0	$0	$0
KEVIN KRABBE	TREASURER	001.00	Officer Director	$0	$0	$0
GUS TOSO	SECRETARY	001.00	Officer Director	$0	$0	$0
WENDY FURSETH	DIRECTOR	001.00	Director	$0	$0	$0
MACY FULLER	DIRECTOR	001.00	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	No data	No data	No data	No data
2023	$167,985	$17,438	$839,244	$150,547
2022	$137,132	$132,210	$620,464	$4,922
2021	$139,732	$17,858	$615,541	$121,874

FRIENDS OF NORWEGIAN CULTURE INC