MINNESOTA QUILTERS INC

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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

1978

Legal Domicile

Principal Officer

WENDY KIESER

Phone

6512243572

Tax Period

2023-10-01 to 2024-09-30

MINNESOTA QUILTERS INC, founded in 1978, is a small nonprofit in the Recreation & Sports sector that reported $366K in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

THE MISSION OF MINNESOTA QUILTERS, INC. IS TO FACILITATE THE FELLOWSHIP OF QUILTERS WHILE PRESERVING THE ART AND CRAFT OF QUILTING THROUGH EDUCATION AND GATHERS, AS WELL AS PRESERVATION OF QUILTS FROM OUR PAST.

Program Service Accomplishments

Program 1

Expenses: $145,403 Revenue: $175,043

THE ANNUAL MINNESOTA QUILT SHOW DRAWS ATTENTION FROM QUILT ENTHUSIASTS ACROSS THE COUNTRY AND IS OPEN TO BOTH MEMBERS AND NONMEMBERS. INDIVIDUALS CAN REGISTER FOR LECTURES AND WORKSHOPS, VIEW MORE...

THE ANNUAL MINNESOTA QUILT SHOW DRAWS ATTENTION FROM QUILT ENTHUSIASTS ACROSS THE COUNTRY AND IS OPEN TO BOTH MEMBERS AND NONMEMBERS. INDIVIDUALS CAN REGISTER FOR LECTURES AND WORKSHOPS, VIEW MORE THAN 4050 JUDGED AND NON-JUDGED QUILTS, AND ENJOY SPECIAL EXHIBITS FROM AROUND THE COUNTRY. OUR JUNE 2024 SHOW DREW MORE THAN 4,050 ATTENDEES.

Program 2

Expenses: $73,848 Revenue: $88,902

EDUCATIONAL PROGRAM ACTIVITIES INCLUDE WORKSHOPS, DEMONSTRATIONS, AND LECTURES. THESE PROGRAMS ARE AVAILABLE TO MEMBERS AND NON-MEMBERS AND COMPLEMENT OUR MEMBERSHIP MEETINGS AND STAND-ALONE EVENTS. OTHER ACTIVITIES INCLUDE IN-TOWN AND OFF-SITE RETREATS. OUR FUNCTIONS INCLUDE QUILTING FOR OTHERS, WITH A MISSION TO INVOLVE MEMBERS/VOLUNTEERS IN MAKING QUILTS FOR LOCAL CHARITIES.

Program 3

Expenses: $43,606 Revenue: $52,494

MEMBERSHIP SERVICES - TWO MEETINGS ARE HELD EACH MONTH. ONE IS A ZOOM ONLY MEETING AND THE OTHER IS A ZOOM/IN-PERSON HYBRID. THESE MEETINGS ARE OPEN TO MEMBERS AND GUESTS, AND INCLUDE DEMONSTRATIONS, LECTURES, PROGRAMS, WORKSHOPS, ANNOUNCEMENTS AND "SHOW AND TELL." MINNESOTA QUILT PROJECT - IDENTIFIES AND DOCUMENTS QUILTS, BOTH PRIVATELY AND PUBLICLY HELD, THAT HAVE A MINNESOTA CONNECTION. THE GOALS OF MQP ARE TO PRESERVE IMAGES AND INFORMATION COLLECTED BY MQP AND MAKE THAT COLLECTION OF INFORMATION AVAILABLE TO THE PUBLIC.

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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 $12,978

Program Service Revenue $316,439

Investment Income $1,033

Other Revenue $35,890

TOTAL REVENUE $366,340

Expense Breakdown

Grants Paid $33,906

Salaries & Benefits $89,094

Fundraising Expenses $0

Program Expenses $262,857

Other Expenses $250,631

TOTAL EXPENSES $373,631

Year-over-Year Comparison

	2023	2022	Change
Revenue	$366,340	$325,244	+0.1%
Expenses	$373,631	$377,096	0.0%
Net Income	$-7,291	$-51,852	-0.9%

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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

250

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WENDY KIESER	PRESIDENT	10.00	Officer Director	$0	$0	$0
WYNN MARTIN	PAST PRESIDENT	2.00	Officer Director	$0	$0	$0
MARCY HUGGINS	TREASURER	7.00	Officer Director	$0	$0	$0
DEB NORSTEN	SECRETARY	2.00	Officer Director	$0	$0	$0
MAUREEN OHLAND	OPERATIONS DIRECTOR	2.00	Officer Director	$0	$0	$0
REGINA ZEDELL	CONMMUNICATIONS DIRECTOR	2.00	Director	$0	$0	$0
SARAH PARKER	EDUCATION DIRECTOR	2.00	Director	$0	$0	$0
KAREN ROOT	MEMBERSHIP DIRECTOR	2.00	Director	$0	$0	$0
TINA ROHDE	MEMBERSHIP DIRECTOR	2.00	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	$366,340	$373,631	$207,540	$-7,291
2023	$325,244	$377,096	$193,808	$-51,852
2022	$402,463	$391,892	$233,470	$10,571
2021	$245,241	$242,752	$261,881	$2,489
2020	$89,146	$209,239	$313,068	$-120,093
2018	$465,736	$410,880	$351,929	$54,856