FARIBAULT AREA SENIOR CITIZENS INC (EIN 411288388) - 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

1992

Legal Domicile

Principal Officer

SHERMAYNE CROSS

Phone

5073327357

Tax Period

2024-01-01 to 2024-12-31

FARIBAULT AREA SENIOR CITIZENS INC, founded in 1992, is a small nonprofit in the Human Services sector that reported $285K in total revenue in fiscal year 2024. Expenses of $328K exceeded revenue, resulting in a 15% operating deficit.

Mission

TO PROMOTE THE PHYSICAL, EMOTIONAL, INTELLECTUAL, ECONOMIC AND SOCIAL WELL BEING OF OLDER ADULTS AND TO PROMOTE THEIR PARTICIPATION IN ALL ASPECTS OF COMMUNITY LIFE IN FARIBAULT 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 $143,145

Program Service Revenue $47,777

Investment Income $15,797

Other Revenue $77,951

TOTAL REVENUE $284,670

Expense Breakdown

Grants Paid $0

Salaries & Benefits $152,796

Fundraising Expenses $265

Program Expenses $306,516

Other Expenses $175,466

TOTAL EXPENSES $328,262

Year-over-Year Comparison

	2024	2023	Change
Revenue	$284,670	$265,048	+0.1%
Expenses	$328,262	$325,535	+0.0%
Net Income	$-43,592	$-60,487	-0.3%

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

Total Directors

$70,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENN KORBEL	EXECUTIVE DI	40.00	Director	$70,000	$0	$70,000
LISA BOEVERS	BOARD	2.00	Director	$0	$0	$0
JULIE CARVER	BOARD	2.00	Director	$0	$0	$0
KENN DUBBLES	BOARD	2.00	Director	$0	$0	$0
GEORGE GALVIN	BOARD	2.00	Director	$0	$0	$0
MARY NIERMANN	BOARD	2.00	Director	$0	$0	$0
BRUCE SCHAFFER	BOARD	2.00	Director	$0	$0	$0
ANNETTE SCHWARTZ	BOARD	2.00	Director	$0	$0	$0
WALTER WETZEL	BOARD	2.00	Director	$0	$0	$0
SHERMAYNE CROSS	PRESIDENT	2.00	Officer	$0	$0	$0
SHARON EICHHORN	SECRETARY	2.00	Officer	$0	$0	$0
WINNIE HUGHES	TREASURER	2.00	Officer	$0	$0	$0
JOHN SLETTEDAHL	VICE PRESIDE	2.00	Officer	$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	$284,670	$328,262	$2,545,199	$-43,592
2023	$265,048	$325,535	$2,636,598	$-60,487
2022	$230,594	$305,024	$2,704,550	$-74,430
2021	$354,919	$266,634	$2,896,979	$88,285
2020	$303,740	$259,356	$2,938,671	$44,384
2019	$504,934	$290,098	$2,887,645	$214,836
2018	$558,380	$222,822	$2,625,877	$335,558

FARIBAULT AREA SENIOR CITIZENS INC