FINISHING TRADES INSTITUTE OF THE UPPER MIDWEST TRUST FUND

EIN: 411296033 501(c)(3) Education

LITTLE CANADA, MN

Total Revenue
$4,012,610
Total Expenses
$3,793,605
Total Assets
$3,248,071
Net Assets
$3,003,040
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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
1977
Legal Domicile
MN
Principal Officer
JEFF STARK
Phone
6513799600
Tax Period
2024-07-01 to 2025-06-30

FINISHING TRADES INSTITUTE OF THE UPPER MIDWEST TRUST FUND, founded in 1977, is a community nonprofit in the Education sector that reported $4.0M in total revenue in fiscal year 2024. Expenses of $3.8M left a modest 5% surplus.

Mission

APPRENTICESHIP AND TRAINING PROGRAM.

Program Service Accomplishments

Program 1
Expenses: $2,022,017 Revenue: $2,748,600

ESTABLISH AND CARRY ON APPRENTICESHIP AND JOURNEYMAN TRAINING PROGRAMS FOR PERSONS IN THE BUSINESS OF PAINTING, DECORATING, DRYWALL FINISHING, GLAZING AND GLASSWORKING, AND IN SUCH OTHER BUSINESSES...

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ESTABLISH AND CARRY ON APPRENTICESHIP AND JOURNEYMAN TRAINING PROGRAMS FOR PERSONS IN THE BUSINESS OF PAINTING, DECORATING, DRYWALL FINISHING, GLAZING AND GLASSWORKING, AND IN SUCH OTHER BUSINESSES AS THE TRUSTEES SHALL DETERMINE.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,185,930
Program Service Revenue $2,748,600
Investment Income $77,746
Other Revenue $334
TOTAL REVENUE $4,012,610

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,294,738
Fundraising Expenses $0
Program Expenses $2,022,017
Other Expenses $1,498,867
TOTAL EXPENSES $3,793,605

Year-over-Year Comparison

2024 2023 Change
Revenue $4,012,610 $3,756,417 +0.1%
Expenses $3,793,605 $3,830,842 0.0%
Net Income $219,005 $-74,425 -3.9%
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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Governance

Voting Members
6
Independent Members
6
Employees
29
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
2
$0
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFF STARK CHAIRMAN 2.00
Officer Director
$0 $0 $0
CRAIG PECK TRUSTEE - PAST 1.00
Director
$0 $0 $0
JORDAN FRY TRUSTEE 1.00
Director
$0 $0 $0
SCOTT PARKER ALTERNATE TRUSTEE 0.50
Director
$0 $0 $0
TERESA ELLIS ALTERNATE TRUSTEE 0.50
Director
$0 $0 $0
JON PIETZ ALTERNATE TRUSTEE 0.50
Director
$0 $0 $0
MARTHA HENRICKSON SECRETARY 2.00
Officer Director
$0 $0 $0
JAMES BRINGLE TRUSTEE 1.00
Director
$0 $0 $0
JOEL SWANSON TRUSTEE 1.00
Director
$0 $0 $0
JOHN NESSE ALTERNATE TRUSTEE 0.50
Director
$0 $0 $0
CHAD FENNELL ALTERNATE TRUSTEE 0.50
Director
$0 $0 $0
SHANE BOSKOVICH ALTERNATE TRUSTEE 0.50
Director
$0 $0 $0
PHIL CARTER ALTERNATE TRUSTEE 0.50
Director
$0 $0 $0
BILL BOUDREAU ALTERNATE TRUSTEE 0.50
Director
$0 $0 $0
TADD TRATAR TRUSTEE 1.00
Director
$0 $0 $0
TOM AASHEIM DIRECTOR OF TECH EDUCATION 50.00
Highest
$128,412 $63,238 $191,650
JOHN BURCAW CHIEF ADMIN OFFICER 50.00
Highest
$125,315 $63,238 $188,553
BRIAN HAGBERG COORDINATOR 40.00
Highest
$107,734 $50,643 $158,377
ANTHONY OSBORN INSTRUCTOR 40.00
Highest
$102,280 $50,172 $152,452
JORDAN BREMSETH RECRUITER 40.00
Highest
$100,447 $50,643 $151,090
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 $4,012,610 $3,793,605 $3,248,071 $219,005
2024 $3,756,417 $3,830,842 $3,044,740 $-74,425
2023 $3,126,245 $3,441,699 $3,279,322 $-315,454
2022 $2,697,111 $2,847,835 $3,359,502 $-150,724
2021 $2,977,173 $2,868,002 $3,520,165 $109,171
2020 $2,760,859 $2,812,379 $3,695,670 $-51,520
2019 $2,845,135 $2,565,988 $3,440,046 $279,147
2018 $2,622,092 $2,211,733 $3,114,501 $410,359
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