THE DULUTH CLINIC LTD (EIN 410883623) - 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

1964

Legal Domicile

Principal Officer

KRISTA SKORUPA MD

Phone

2187868364

Tax Period

2024-07-01 to 2025-06-30

THE DULUTH CLINIC LTD, founded in 1964, is a major nonprofit in the Health Care sector that reported $339.7M in total revenue in fiscal year 2024. Revenue surged 22% from the prior year, signaling strong growth momentum. Expenses of $300.9M left a modest 11% surplus.

Mission

WE ARE CALLED TO MAKE A HEALTHY DIFFERENCE IN PEOPLE'S LIVES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $189,084

Program Service Revenue $333,733,278

Investment Income $671,119

Other Revenue $5,098,575

TOTAL REVENUE $339,692,056

Expense Breakdown

Grants Paid $1,798

Salaries & Benefits $71,848,379

Fundraising Expenses $0

Program Expenses $268,490,093

Other Expenses $229,015,539

TOTAL EXPENSES $300,865,716

Year-over-Year Comparison

	2024	2023	Change
Revenue	$339,692,056	$277,597,584	+0.2%
Expenses	$300,865,716	$251,528,252	+0.2%
Net Income	$38,826,340	$26,069,332	+0.5%

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

1155

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

$3,774,902

Total Directors

$965,901

Key Employees

$5,464,187

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANTHONY BURROWS MD	PHYSICIAN	60.00	Highest	$1,566,372	$70,200	$1,636,572
JUSTIN HILL MD	PHYSICIAN & SECTION CHAIR	60.00	Highest	$1,530,644	$70,251	$1,600,895
MICHAEL WOLZ MD	PHYSICIAN & SECTION CHAIR	60.00	Highest	$1,498,567	$43,353	$1,541,920
NINGMEI HU MD	PHYSICIAN	60.00	Highest	$1,215,626	$42,888	$1,258,514
DINO TERZIC MD	PHYSICIAN & SECTION CHAIR	60.00	Highest	$1,196,648	$40,483	$1,237,131
TRACI MORRIS	TREASURER/REL ORG CHIEF FINCL OFF	1.00	Officer	$0	$144,686	$1,199,416
BRADLEY BEARD	CHIEF OPERATING OFFICER	1.00	Key Emp	$0	$179,046	$1,179,194
WILLIAM HEEGAARD MD	FORMER PRESIDENT	0.00		$0	$122,346	$1,098,293
KRISTA SKORUPA MD	PRESIDENT	1.00	Officer	$0	$146,142	$952,538
JASON SCHULTZ MD	CHIEF MEDICAL OFFICER	1.00	Key Emp	$287,719	$171,138	$942,581
DANIEL NIKCEVICH MD	FORMER PRESIDENT	58.00		$871,257	$61,115	$932,372
MICHAEL WATTERS	SECRETARY/REL ORG CHIEF LEGAL OFF	1.00	Officer	$0	$151,399	$924,527
RHONDA KAZIK	CHIEF NURSE EXECUTIVE	1.00	Key Emp	$0	$133,586	$818,976
JANICE SCHADE	SENIOR VP, OPERATIONS THRU 3/24	1.00	Key Emp	$0	$47,564	$683,592
KEVIN BOREN	VICE PRESIDENT, FINANCE	1.00	Officer	$0	$123,808	$678,621
TAMMY KRITZER	SENIOR VICE PRESIDENT, OPERATIONS	1.00	Key Emp	$0	$98,465	$635,546
TROY DUININCK MD	BD DIRECTOR/REL ORG PHYS & DIV CHAIR	0.10	Director	$0	$69,761	$617,667
ANNE STEPHEN MD	CHIEF MEDICAL OFFICER THRU 5/24	1.00	Key Emp	$200,424	$70,794	$569,897
TRENT NOBLES	SENIOR VP, OPERATIONS THRU 3/25	1.00	Key Emp	$0	$71,700	$385,839
JAN BALDWIN MD	BOARD DIRECTOR & PHYSICIAN	57.90	Director	$251,262	$50,172	$308,234
ERIC NELSON	SENIOR VICE PRESIDENT, OPERATIONS	1.00	Key Emp	$0	$29,005	$248,562
THOMAS WITT MD	FORMER PHYSICIAN LEADER	11.00		$107,714	$8,106	$115,820
JOSEPH MIHALEK	BOARD CHAIR THRU 12/24	0.10	Officer Director	$0	$0	$7,800
THOMAS JAMAR	BOARD VICE CHAIR	0.10	Officer Director	$0	$0	$6,600
ALAN ROCK	BOARD DIRECTOR THRU 12/24	0.10	Director	$0	$0	$6,000
GEORGE LOBAN	BOARD DIRECTOR	0.10	Director	$0	$0	$5,600
ANTHONY SERTICH	BOARD CHAIR	0.10	Officer Director	$0	$0	$5,400
AMY BERGSTROM	BOARD DIRECTOR	0.10	Director	$0	$0	$5,000
ANTHONY YUNG	BOARD DIRECTOR	0.10	Director	$0	$0	$3,600
ADAM BACHAND	BOARD DIRECTOR	0.10	Director	$0	$0	$0
BECKY URBANSKI	BOARD DIRECTOR	0.10	Director	$0	$0	$0
NANCY ARONSON NORR	BOARD DIRECTOR	0.10	Director	$0	$0	$0
SISTER BEVERLY RAWAY	BOARD DIRECTOR	0.10	Director	$0	$0	$0
SISTER JEANNE ANN WEBER	BOARD DIRECTOR	0.10	Director	$0	$0	$0
SISTER THERESE CARSON	BOARD DIRECTOR THRU 12/24	0.10	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	$339,692,056	$300,865,716	$136,157,923	$38,826,340
2024	$277,597,584	$251,528,252	$137,349,725	$26,069,332
2023	$238,141,036	$229,002,682	$133,681,275	$9,138,354
2022	$205,161,372	$196,608,736	$135,061,043	$8,552,636
2021	$178,643,694	$172,123,921	$142,326,719	$6,519,773
2020	$137,945,323	$147,331,516	$381,398,588	$-9,386,193
2019	$132,127,897	$146,016,072	$370,478,399	$-13,888,175
2018	$123,854,019	$147,743,702	$378,886,940	$-23,889,683

THE DULUTH CLINIC LTD