THE AMERICAN SWEDISH INSTITUTE

EIN: 410711603 501(c)(3) Arts, Culture & Humanities

MINNEAPOLIS, MN

Total Revenue
$7,711,753
Total Expenses
$7,562,634
Total Assets
$61,005,890
Net Assets
$56,938,697
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1929
Legal Domicile
MN
Principal Officer
MOLLY STEENSON
Phone
6128714907
Tax Period
2024-10-01 to 2025-09-30

THE AMERICAN SWEDISH INSTITUTE, founded in 1929, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.7M in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year. Net assets of $56.9M represent 89 months of operating reserves.

Mission

ASI IS A PLACE TO SHARE SWEDISH EXPERIENCES OF CULTURE, MIGRATION, THE ENVIRONMENT AND THE ARTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $5,219,533
Program Service Revenue $1,317,549
Investment Income $666,829
Other Revenue $507,842
TOTAL REVENUE $7,711,753

Expense Breakdown

Grants Paid $20,633
Salaries & Benefits $3,775,547
Fundraising Expenses $373,270
Program Expenses $5,182,578
Other Expenses $3,766,454
TOTAL EXPENSES $7,562,634

Year-over-Year Comparison

2024 2023 Change
Revenue $7,711,753 $9,422,312 -0.2%
Expenses $7,562,634 $6,955,581 +0.1%
Net Income $149,119 $2,466,731 -0.9%
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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Governance

Voting Members
22
Independent Members
22
Employees
117
Volunteers
147

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
8
$440,573
Total Directors
24
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR MARGARET ADAMEK CHAIR TO JUNE 2025 1.80
Officer Director
$0 $0 $0
SARA STENBERG BOARD MEMBER, CHAIR FROM JUNE 2025 1.80
Officer Director
$0 $0 $0
TIKKI BROWN VICE CHAIR 1.80
Officer Director
$0 $0 $0
LISA KALLEBO TREASURER 1.80
Officer Director
$0 $0 $0
BRENDA BUTLER SECRETARY 1.80
Officer Director
$0 $0 $0
ALYSSA MALINSKI ERICKSON BOARD MEMBER 1.80
Director
$0 $0 $0
ANDREA OSELAND BOARD MEMBER 1.80
Director
$0 $0 $0
ANDREAS ORNBERG BOARD MEMBER 1.80
Director
$0 $0 $0
AXEL PETER HILGER BOARD MEMBER 1.80
Director
$0 $0 $0
BARBARA GLASER BOARD MEMBER 1.80
Director
$0 $0 $0
BARBARA SWADBURG BOARD MEMBER 1.80
Director
$0 $0 $0
CARLINE BENGTSSON BOARD MEMBER 1.80
Director
$0 $0 $0
DAVID SORENSEN BOARD MEMBER 1.80
Director
$0 $0 $0
DEBRA BARNES BOARD MEMBER 1.80
Director
$0 $0 $0
ELODIE LEE BOARD MEMBER 1.80
Director
$0 $0 $0
HANS BURBIDGE BOARD MEMBER 1.80
Director
$0 $0 $0
KATIE JACOBSON BOARD MEMBER 1.80
Director
$0 $0 $0
LARS ERIK LEAFBLAD BOARD MEMBER 1.80
Director
$0 $0 $0
LENOR SCHEFFLER BOARD MEMBER 1.80
Director
$0 $0 $0
LESLIE GOEDKEN BOARD MEMBER 1.80
Director
$0 $0 $0
MARCIA ANDERSON BOARD MEMBER 1.80
Director
$0 $0 $0
MARCO MOLINARI BOARD MEMBER 1.80
Director
$0 $0 $0
TAMIR ELNABARAWY BOARD MEMBER 1.80
Director
$0 $0 $0
WILLIAM WEILER BOARD MEMBER 1.80
Director
$0 $0 $0
MOLLY STEENSON PRESIDENT/CEO 45.00
Officer
$201,517 $9,445 $210,962
INGRID NYHOLM LANGE COO 45.00
Officer
$134,178 $15,076 $149,254
STEVEN ENGELKES DIRECTOR OF FINANCE 45.00
Officer
$79,691 $666 $80,357
CHRISTIANA STOLPESTAD DIRECTOR OF DEVELOPMENT 45.00
Highest
$120,359 $18,871 $139,230
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 $7,711,753 $7,562,634 $61,005,890 $149,119
2024 No data No data No data No data
2023 $6,637,892 $6,349,348 $60,326,225 $288,544
2022 $22,744,075 $5,718,197 $53,674,080 $17,025,878
2021 $4,546,690 $4,756,108 $34,782,368 $-209,418
2020 $8,024,272 $4,863,479 $34,796,375 $3,160,793
2019 $4,692,641 $5,431,046 $31,303,709 $-738,405
2018 $5,646,872 $4,866,041 $31,678,486 $780,831
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