Mankato Area Foundation

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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

1974

Legal Domicile

Principal Officer

Nancy Zallek

Phone

5073894583

Tax Period

2023-07-01 to 2024-06-30

Mankato Area Foundation, founded in 1974, is a community nonprofit that reported $7.1M in total revenue in fiscal year 2023. Revenue surged 23% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.9M, a strong 26% operating margin.

Mission

The Mankato Area Foundation is a trusted resource that connects donors with causes they care about, provides funding to enhance our region and serves as a collaborative community partner.

Program Service Accomplishments

Program 1

Expenses: $4,686,775 Revenue: $41,076

The Foundation awarded grants through its Community Fund, designated funds, and donor-advised funds to enhance the livability and vibrancy of the Greater Mankato area. Additionally, the Consultant in Residency Fund provided critical support to nonprofit organizations by offering access to expert consulting services to strengthen their operations. Through strategic partnerships, resources, and community connections, the Foundation played a key role in supporting nonprofits as they worked to meet critical community needs. The Greater Mankato Inclusivity Study (GMIS), one of the largest community-led, mixed-method inclusivity studies in the nation, assessed the state of inclusivity for students, employees, and residents in the Greater Mankato area (Blue Earth and Nicollet counties) and was shared with the community to help inform next steps and action items.

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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 $6,048,373

Program Service Revenue $41,076

Investment Income $943,536

Other Revenue $112,696

TOTAL REVENUE $7,145,681

Expense Breakdown

Grants Paid $4,060,331

Salaries & Benefits $672,106

Fundraising Expenses $226,524

Program Expenses $4,686,775

Other Expenses $544,803

TOTAL EXPENSES $5,277,240

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,145,681	$5,788,794	+0.2%
Expenses	$5,277,240	$4,419,357	+0.2%
Net Income	$1,868,441	$1,369,437	+0.4%

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

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

$328,529

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Leah Davis	Chair	2.00	Officer Director	$0	$0	$0
Christina Bohlke	Vice-Chair	1.00	Officer Director	$0	$0	$0
Seth Ferkenstad	Treasurer	1.00	Officer Director	$0	$0	$0
Brittany King-Asamoa	Secretary	1.00	Officer Director	$0	$0	$0
Melissa Bradley	Director	1.00	Director	$0	$0	$0
Jennifer Pfeffer	Director	1.00	Director	$0	$0	$0
Sarah Richards	Director	1.00	Director	$0	$0	$0
Erin Kragh	Director	1.00	Director	$0	$0	$0
Bob Beadell	Director	1.00	Director	$0	$0	$0
Tim Huebsch	Director	1.00	Director	$0	$0	$0
Michael Robinson	Director	1.00	Director	$0	$0	$0
Marcia Bahr	Director	1.00	Director	$0	$0	$0
Art Westphal	Director	1.00	Director	$0	$0	$0
Michelle Schooff	Director	1.00	Director	$0	$0	$0
Amanda Heilman	Director	1.00	Director	$0	$0	$0
Stephanie Stoffell	Director	1.00	Director	$0	$0	$0
Belen Fernandez	Director	1.00	Director	$0	$0	$0
Todd Prafke	Director	1.00	Director	$0	$0	$0
Heidi Boyum	Director	1.00	Director	$0	$0	$0
Nancy Zallek	President & CEO	40.00	Officer	$113,080	$21,291	$134,371
Ashley Eimer	VP of Philanthropy	40.00	Officer	$97,432	$11,646	$109,078
Samantha Spicer	Finance Director	40.00	Officer	$74,218	$10,862	$85,080

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	No data	No data	No data	No data
2024	$7,145,681	$5,277,240	$34,424,338	$1,868,441
2023	$5,788,794	$4,419,357	$30,025,948	$1,369,437
2022	$6,256,215	$3,308,376	$27,051,711	$2,947,839
2021	$3,879,054	$2,713,026	$27,550,906	$1,166,028
2020	$3,839,123	$2,102,071	$22,594,805	$1,737,052
2019	$4,942,734	$1,648,705	$19,568,119	$3,294,029
2018	$2,396,337	$1,258,309	$15,027,895	$1,138,028