WESTFIELDS HOSPITAL FOUNDATION INC

EIN: 391770913 501(c)(3) Health Care

MINNEAPOLIS, MN

Total Revenue
$293,816
Total Expenses
$506,535
Total Assets
$2,972,590
Net Assets
$2,505,900
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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
1993
Legal Domicile
WI
Principal Officer
ALITA R RISINGER
Phone
9528836584
Tax Period
2023-01-01 to 2023-12-31

WESTFIELDS HOSPITAL FOUNDATION INC, founded in 1993, is a small nonprofit in the Health Care sector that reported $294K in total revenue in fiscal year 2023. Revenue fell 57% from the prior year — a significant decline worth monitoring. Expenses of $507K exceeded revenue, resulting in a 72% operating deficit.

Mission

TO SUPPORT WESTFIELDS HOSPITAL IN THEIR PROVISION OF CARE TO THE COMMUNITY.

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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 (2023)

Revenue Breakdown

Contributions & Grants $220,663
Program Service Revenue $0
Investment Income $64,010
Other Revenue $9,143
TOTAL REVENUE $293,816

Expense Breakdown

Grants Paid $506,535
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $506,535
Other Expenses $0
TOTAL EXPENSES $506,535

Year-over-Year Comparison

2023 2022 Change
Revenue $293,816 $690,518 -0.6%
Expenses $506,535 $437,217 +0.2%
Net Income $-212,719 $253,301 -1.8%
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

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Governance

Voting Members
9
Independent Members
8
Employees
N/A
Volunteers
12

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
$1,121,819
Total Directors
9
$521,472
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAULA KOLBECK DIRECTOR & SECRETARY 0.50
Officer Director
$0 $0 $0
HEATHER MCABEE DIRECTOR & TREASURER 0.50
Officer Director
$0 $0 $0
KARL SKOGLUND DIRECTOR & VICE CHAIR 0.50
Officer Director
$0 $0 $0
LYNNELLE GABRIEL MD DIRECTOR 0.50
Director
$0 $67,565 $521,472
SCOTT SODERBERG DIRECTOR 0.50
Director
$0 $0 $0
BETH WOOD DIRECTOR 0.50
Director
$0 $0 $0
LUANNE KOUBSKY DIRECTOR 0.50
Director
$0 $0 $0
ROLAND BUCHMAN DIRECTOR 0.50
Director
$0 $0 $0
PATTY BERGER DIRECTOR & CHAIR 1.00
Officer Director
$0 $0 $0
STEVEN M MASSEY DIRECTOR & PRESIDENT 0.50
Officer
$0 $64,799 $473,915
DOUGLAS E JOHNSON CFO 0.50
Officer
$0 $44,121 $647,904
JASON J LUHRS FORMER CFO 0.00
$0 $65,808 $413,398
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 $293,816 $506,535 $2,972,590 $-212,719
2022 $690,518 $437,217 $2,763,753 $253,301
2021 $707,866 $385,040 $2,708,103 $322,826
2020 $282,933 $312,933 $2,273,790 $-30,000
2019 $316,625 $259,542 $2,003,256 $57,083
2018 $282,604 $158,006 $1,714,441 $124,598
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