BEMIDJI COMMUNITY ARTS COUNCIL INC (EIN 411287739) - 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

1970

Legal Domicile

Principal Officer

ANN GORMAN

Phone

2184447570

Tax Period

2024-01-01 to 2024-12-31

BEMIDJI COMMUNITY ARTS COUNCIL INC, founded in 1970, is a small nonprofit that reported $410K in total revenue in fiscal year 2024. Revenue decreased 16% compared to the prior year. Expenses of $566K exceeded revenue, resulting in a 38% operating deficit.

Mission

TO ENCOURAGE THE GROWTH AND DEVELOPMENT OF VISUAL ART FORMS IN BEMIDJI AND THE SURROUNDING AREA.

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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 $294,359

Program Service Revenue $87,041

Investment Income $2,844

Other Revenue $25,411

TOTAL REVENUE $409,655

Expense Breakdown

Grants Paid $0

Salaries & Benefits $218,538

Fundraising Expenses $1,037

Program Expenses $463,865

Other Expenses $347,387

TOTAL EXPENSES $565,925

Year-over-Year Comparison

	2024	2023	Change
Revenue	$409,655	$485,585	-0.2%
Expenses	$565,925	$528,886	+0.1%
Net Income	$-156,270	$-43,301	+2.6%

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

Volunteers

N/A

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

$40,000

Total Directors

$40,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARILYN MILLER	PRESIDENT	30.00	Officer Director	$0	$0	$0
MIKE OHL	VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
ANN GORMAN	SECRETARY/TREASURER	5.00	Officer Director	$0	$0	$0
PAT KELLY	BOARD MEMBER	5.00	Director	$0	$0	$0
ERIC CARLSON	BOARD MEMBER	5.00	Director	$0	$0	$0
GILLIAN BEDFORD	BOARD MEMBER	5.00	Director	$0	$0	$0
LORI FORSHEE-DONNAY	EXECUTIVE DIRECTOR	30.00	Officer Director	$40,000	$0	$40,000
NYLETA BELGARDE	BOARD MEMBER	5.00	Director	$0	$0	$0
KRISTEN MAJKRZAK	BOARD MEMBER	5.00	Director	$0	$0	$0
KATHY GUSTAFSON	BOARD MEMBER	5.00	Director	$0	$0	$0
EMMA ADAMS	BOARD MEMBER	5.00	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
2024	$409,655	$565,925	$2,458,504	$-156,270
2023	$485,585	$528,886	$2,690,194	$-43,301
2022	$449,095	$481,679	$2,745,878	$-32,584
2021	$400,962	$345,398	$2,795,150	$55,564
2020	$818,808	$298,831	$2,907,377	$519,977
2019	$362,792	$356,900	$2,864,624	$5,892
2018	$303,994	$344,365	$2,882,958	$-40,371

BEMIDJI COMMUNITY ARTS COUNCIL INC