SOUTH CENTRAL MINNESOTA ELECTRICAL WORKERS INDUSTRY WELFARE PLAN

EIN: 411305411

BLOOMINGTON, MN

Total Revenue
$21,656,471
Total Expenses
$17,935,311
Total Assets
$75,158,458
Net Assets
$74,297,389
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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
KRISTIN CAUSBY
Phone
9528540795
Tax Period
2023-07-01 to 2024-06-30

SOUTH CENTRAL MINNESOTA ELECTRICAL WORKERS INDUSTRY WELFARE PLAN, founded in 1977, is a mid-sized nonprofit that reported $21.7M in total revenue in fiscal year 2023. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.7M, a strong 17% operating margin.

Mission

TO PROVIDE HEALTH AND WELFARE BENEFITS

Program Service Accomplishments

Program 1

THE PLAN PROVIDES MEDICAL, DENTAL, PRESCRIPTION DRUG, DISABILITY AND DEATH BENEFITS FOR ELIGIBLE PARTICIPANTS AND THEIR DEPENDENTS OR BENEFICIARIES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $18,592,071
Investment Income $3,064,400
Other Revenue $0
TOTAL REVENUE $21,656,471

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $440,390
TOTAL EXPENSES $17,935,311

Year-over-Year Comparison

2023 2022 Change
Revenue $21,656,471 $18,130,367 +0.2%
Expenses $17,935,311 $13,563,131 +0.3%
Net Income $3,721,160 $4,567,236 -0.2%
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

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Governance

Voting Members
8
Independent Members
2
Employees
32
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
0
$0
Total Directors
8
$210,616
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEVEN CARDELL TRUSTEE 0.45
Director
$0 $50,283 $188,237
STEVEN OLSON TRUSTEE 0.45
Director
$97 $0 $157
SEAN SANNES TRUSTEE 0.45
Director
$1,255 $5,168 $21,108
DEAN HOGSTAD TRUSTEE 0.45
Director
$1,114 $0 $1,114
KRISTIN CAUSBY TRUSTEE 0.45
Director
$0 $0 $0
MARK DRAPER TRUSTEE 0.45
Director
$0 $0 $0
DON HAMEISTER TRUSTEE 0.45
Director
$0 $0 $0
JASON TENTIS TRUSTEE 0.45
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 No data No data No data No data
2024 $21,656,471 $17,935,311 $75,158,458 $3,721,160
2023 $18,130,367 $13,563,131 $65,719,238 $4,567,236
2022 $17,053,059 $16,922,112 $55,498,601 $130,947
2021 $16,507,851 $17,926,941 $63,328,603 $-1,419,090
2020 $15,446,693 $14,130,879 $54,239,086 $1,315,814
2019 $14,938,770 $12,105,623 $50,430,474 $2,833,147
2018 $12,559,821 $13,256,594 $45,091,753 $-696,773
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