MINNEWASKA LUTHERAN HOME (EIN 410845402) - 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

1958

Legal Domicile

Principal Officer

KAYO ASLAGSON

Phone

3202392217

Tax Period

2023-10-01 to 2024-09-30

MINNEWASKA LUTHERAN HOME, founded in 1958, is a mid-sized nonprofit that reported $13.5M in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $14.9M exceeded revenue, resulting in a 11% operating deficit.

Mission

Nursing home a community of services grounded in faith providing person centered care

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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 $296,980

Program Service Revenue $11,593,295

Investment Income $3,548

Other Revenue $1,560,742

TOTAL REVENUE $13,454,565

Expense Breakdown

Grants Paid $0

Salaries & Benefits $7,877,402

Fundraising Expenses $0

Program Expenses $12,200,467

Other Expenses $7,064,725

TOTAL EXPENSES $14,942,127

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,454,565	$10,332,405	+0.3%
Expenses	$14,942,127	$11,242,608	+0.3%
Net Income	$-1,487,562	$-910,203	+0.6%

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

221

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

$268,548

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KAYO ASLAGSON	Chairman	1.500	Officer Director	$0	$0	$0
PETER BRANDT	Vice Chairman	1.500	Officer Director	$0	$0	$0
ROBERT HENDRICKSON	Treasurer	1.500	Officer Director	$0	$0	$0
FAITH ANDERSON	Secretary	1.500	Officer Director	$0	$0	$0
WARREN HAGESTUEN	Director	1.500	Director	$0	$0	$0
ALICE REESE	Director	1.500	Director	$0	$0	$0
STANLEY STARK	Director	1.500	Director	$0	$0	$0
MELODY SLETTEN	Director	1.500	Director	$0	$0	$0
ROBERT RANUM	Director	1.500	Director	$0	$0	$0
BRUCE PRAUSE	Director	1.500	Director	$0	$0	$0
CHRISTOPHER KNOLL	CEO	37.00	Officer	$146,755	$0	$146,755
CAROLINE HENDREN	CFO	35.00	Officer	$117,155	$4,638	$121,793

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	$13,454,565	$14,942,127	$11,153,605	$-1,487,562
2023	$10,332,405	$11,242,608	$10,968,460	$-910,203
2022	$9,608,541	$10,346,579	$11,476,103	$-738,038
2021	$9,918,361	$9,793,249	$11,844,976	$125,112
2020	$8,040,498	$9,115,942	$13,050,379	$-1,075,444
2019	$6,167,028	$7,645,260	$13,154,351	$-1,478,232
2018	$4,281,265	$4,792,111	$14,345,894	$-510,846

MINNEWASKA LUTHERAN HOME