MINNEHAHA ACADEMY

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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

1905

Legal Domicile

Principal Officer

MIKE HURAY

Phone

6127298321

Tax Period

2023-07-01 to 2024-06-30

MINNEHAHA ACADEMY, founded in 1905, is a mid-sized nonprofit in the Education sector that reported $25.9M in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Net assets of $83.7M represent 39 months of operating reserves.

Mission

MINNEHAHA ACADEMY'S PRIMARY PURPOSE IS TO PROVIDE A HIGH QUALITY EDUCATION TO STUDENTS IN PRE-SCHOOL TO GRADE 12 INTEGRATING CHRISTIAN FAITH AND LEARNING.

Program Service Accomplishments

Program 1

Expenses: $25,457,693 Revenue: $22,843,870

MINNEHAHA ACADEMY IS A PRE-SCHOOL THROUGH GRADE 12 SCHOOL SERVING STUDENTS THROUGHOUT THE MINNEAPOLIS AND ST. PAUL AREA. ENROLLMENT IN 2023 - 2024 WAS 862 STUDENTS. IN SUPPORT OF ITS COMMITMENT TO...

MINNEHAHA ACADEMY IS A PRE-SCHOOL THROUGH GRADE 12 SCHOOL SERVING STUDENTS THROUGHOUT THE MINNEAPOLIS AND ST. PAUL AREA. ENROLLMENT IN 2023 - 2024 WAS 862 STUDENTS. IN SUPPORT OF ITS COMMITMENT TO CULTURAL AND SOCIOECONOMIC DIVERSITY AS BEING AN ESSENTIAL PART OF ITS EDUCATION GOALS, THE SCHOOL GRANTED FINANCIAL AID TO STUDENTS.

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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 $1,935,714

Program Service Revenue $22,843,870

Investment Income $1,044,224

Other Revenue $95,893

TOTAL REVENUE $25,919,701

Expense Breakdown

Grants Paid $6,647,432

Salaries & Benefits $15,239,957

Fundraising Expenses $641,282

Program Expenses $25,457,693

Other Expenses $6,470,237

TOTAL EXPENSES $28,357,626

Year-over-Year Comparison

	2023	2022	Change
Revenue	$25,919,701	$27,781,458	-0.1%
Expenses	$28,357,626	$27,865,676	+0.0%
Net Income	$-2,437,925	$-84,218	+27.9%

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

384

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

$556,372

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DONNA HARRIS	PRESIDENT	40.00	Officer	$263,634	$78,178	$341,812
MIKE HURAY	CFO	40.00	Officer	$191,465	$23,095	$214,560
SARA JACOBSON	EXECUTIVE DIRECTOR INST ADVANCEMENT	40.00	Highest	$122,738	$20,303	$143,041
DAVID EISENMANN	DIRECTOR OF TECH	40.00	Highest	$129,940	$5,177	$135,117
LAURA HOFFMAN-HORDYK	EXECUTIVE DIRECTOR HR	40.00	Highest	$110,207	$12,717	$122,924
MARC BELTON	CHAIR	1.00	Officer Director	$0	$0	$0
TIM CARLSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
BROOKE LEE	SECRETARY	1.00	Officer Director	$0	$0	$0
TODD LADDUSAW	TREASURER	1.00	Officer Director	$0	$0	$0
AARON KARDELL	BOARD TRUSTEE	1.00	Director	$0	$0	$0
DAVE CAIRNS	BOARD TRUSTEE	1.00	Director	$0	$0	$0
DAVID ANDERSON	BOARD TRUSTEE	1.00	Director	$0	$0	$0
DR ROSE LEE-NORMAN	BOARD TRUSTEE	1.00	Director	$0	$0	$0
EMILY SOLTVEDT	BOARD TRUSTEE	1.00	Director	$0	$0	$0
ERICA JENSEN	BOARD TRUSTEE	1.00	Director	$0	$0	$0
GREG KARPENKO	BOARD TRUSTEE	1.00	Director	$0	$0	$0
GREG SIWEK	BOARD TRUSTEE	1.00	Director	$0	$0	$0
HILARY SONSTEGARD	BOARD TRUSTEE	1.00	Director	$0	$0	$0
JENNY JOHNSON	BOARD TRUSTEE	1.00	Director	$0	$0	$0
JOHN MISA	BOARD TRUSTEE	1.00	Director	$0	$0	$0
JOHN SCHROEDER	BOARD TRUSTEE	1.00	Director	$0	$0	$0
JONATHAN KELLER	BOARD TRUSTEE	1.00	Director	$0	$0	$0
KAREN BROWN	BOARD TRUSTEE	1.00	Director	$0	$0	$0
KEVIN KRUMM	BOARD TRUSTEE	1.00	Director	$0	$0	$0
LYNN FARMER	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MILTON DODD	BOARD TRUSTEE	1.00	Director	$0	$0	$0
RACHEL PICKERIGN	BOARD TRUSTEE	1.00	Director	$0	$0	$0
REV DR JONATHAN WILSON	BOARD TRUSTEE	1.00	Director	$0	$0	$0
REV KARA STROMBERG	BOARD TRUSTEE	1.00	Director	$0	$0	$0
SARAH SWANSON	BOARD TRUSTEE	1.00	Director	$0	$0	$0
SEAN MAHONEY	BOARD TRUSTEE	1.00	Director	$0	$0	$0
TODD O'BERT	BOARD TRUSTEE	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	No data	No data	No data	No data
2024	$25,919,701	$28,357,626	$86,717,633	$-2,437,925
2023	$27,781,458	$27,865,676	$86,939,768	$-84,218
2022	$27,566,696	$27,648,269	$87,515,002	$-81,573
2021	$25,963,554	$26,236,913	$94,981,141	$-273,359
2020	$39,579,854	$24,557,017	$102,592,947	$15,022,837
2019	$50,223,643	$23,395,914	$84,905,847	$26,827,729
2018	$41,146,180	$27,309,401	$59,699,703	$13,836,779