MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION (EIN 410972298) - 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

1971

Legal Domicile

Principal Officer

JULIA NELMARK

Phone

2188473191

Tax Period

2023-01-01 to 2023-12-31

MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION, founded in 1971, is a community nonprofit in the Community Improvement sector that reported $6.7M in total revenue in fiscal year 2023. The organization ran a surplus of $1.6M, a strong 24% operating margin.

Mission

THE MISSION OF MMCDC IS TO ASSIST COMMUNITIES AND INDIVIDUALS ACHIEVE A BETTER QUALITY OF LIFE.

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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 $956,485

Program Service Revenue $4,929,636

Investment Income $258,864

Other Revenue $572,982

TOTAL REVENUE $6,717,967

Expense Breakdown

Grants Paid $167,900

Salaries & Benefits $3,222,520

Fundraising Expenses $291,364

Program Expenses $3,946,572

Other Expenses $1,691,260

TOTAL EXPENSES $5,081,680

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,717,967	$6,318,095	+0.1%
Expenses	$5,081,680	$5,398,526	-0.1%
Net Income	$1,636,287	$919,569	+0.8%

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

$661,719

Total Directors

$62,500

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAUL IHLE	DIRECTOR	2.00	Officer Director	$9,000	$0	$9,000
GARY THIBERT	CHAIR	2.00	Officer Director	$4,500	$0	$4,500
JEFF HAUKEBO	TREASURER	2.00	Officer Director	$5,000	$0	$5,000
BREANNA ADAMS	SECRETARY	2.00	Officer Director	$5,250	$0	$5,250
DAVID BURGGRAF	DIRECTOR	2.00	Director	$1,500	$0	$1,500
JIM DAGG	DIRECTOR	2.00	Director	$5,000	$0	$5,000
LORI GUENTHER	VICE CHAIR	2.00	Officer Director	$5,500	$0	$5,500
LESTER LILJEDAHL	DIRECTOR	2.00	Director	$5,750	$0	$5,750
MARIA PRETZER	DIRECTOR	2.00	Director	$0	$0	$0
DAN STEVENS	DIRECTOR	2.00	Director	$3,000	$0	$3,000
LISA WEBER	DIRECTOR	2.00	Director	$4,000	$0	$4,000
MARK FINSTAD	DIRECTOR	2.00	Director	$3,500	$0	$3,500
MONICA HEDSTROM	DIRECTOR	2.00	Director	$3,250	$0	$3,250
MELINDA IVERSON	DIRECTOR	2.00	Director	$2,500	$0	$2,500
MARIA LINDSTROM	DIRECTOR	2.00	Director	$4,750	$0	$4,750
JULIA NELMARK	PRESIDENT	50.00	Officer	$347,022	$64,000	$411,022
SCOTT OMLID	CHIEF FINANCIAL OFFICER	50.00	Officer	$200,350	$21,097	$221,447
STEVE WIEBOLT	VP ADMINISTRATION	45.00	Highest	$150,544	$39,532	$190,076
NICOLE KIRCHNER	VP BUSINESS DEVELOPMENT	45.00	Highest	$124,565	$14,751	$139,316
JAMIE MARKS ERICKSON	DEVELOPMENT OFFICER	45.00	Highest	$111,404	$34,858	$146,262
TIM SWENSON	MGR NEW MARKET TAX CREDIT	45.00	Highest	$122,832	$35,475	$158,307
LAURA MCKNIGHT	DIRECTOR OF HOUSING & RE	45.00	Highest	$108,493	$11,425	$119,918
KAREN LARSON	VP MORTGAGE LENDING	45.00	Highest	$117,630	$24,910	$142,540

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	No data	No data	No data	No data
2023	$6,717,967	$5,081,680	$81,350,440	$1,636,287
2022	$6,318,095	$5,398,526	$79,318,282	$919,569
2021	$8,284,111	$5,228,981	$81,373,559	$3,055,130
2020	$8,562,276	$5,754,024	$76,745,783	$2,808,252
2019	$9,796,447	$6,896,735	$74,261,345	$2,899,712
2018	$11,564,257	$5,443,783	$72,785,083	$6,120,474

MIDWEST MINNESOTA COMMUNITY DEVELOPMENT CORPORATION