SOUTHEASTERN MINNESOTA ARTS COUNCIL INC

EIN: 411417579 501(c)(3) Arts, Culture & Humanities

ROCHESTER, MN

Total Revenue
$1,580,768
Total Expenses
$1,575,653
Total Assets
$543,107
Net Assets
$135,019
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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
KJELLGREN ALKIRE
Phone
5072814848
Tax Period
2023-07-01 to 2024-06-30

SOUTHEASTERN MINNESOTA ARTS COUNCIL INC, founded in 1977, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.6M in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum.

Mission

SEMAC EXISTS TO ENCOURAGE, PROMOTE AND ASSIST REGIONAL ARTS DEVELOPMENT BY PROVIDING LEADERSHIP, OUTREACH, ADVOCACY, MENTORSHIP, GRANTS, AND SERVICES.

Program Service Accomplishments

Program 1
Expenses: $1,289,169 Revenue: $1,297,304

ACHF PROGRAM - GRANTS TO CONSTITUENTS AND ITS RELATED OPERATING EXPENSES AND TECHNICAL SERVICES.

Program 2
Expenses: $136,622 Revenue: $191,834

MSAB GENERAL ALLOCATION - USED FOR OPERATING EXPENSES, TECHNICAL SERVICES AND PROGRAM GRANTS TO OUR CONSTITUENTS.

Program 3
Expenses: $85,000 Revenue: $90,000

MCKNIGHT FOUNDATION - OFFERS INDIVIDUAL ARTIST GRANTS TO CONSTITUENTS.

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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 $1,579,138
Program Service Revenue $0
Investment Income $1,630
Other Revenue $0
TOTAL REVENUE $1,580,768

Expense Breakdown

Grants Paid $1,166,625
Salaries & Benefits $272,187
Fundraising Expenses $3,516
Program Expenses $1,510,791
Other Expenses $136,841
TOTAL EXPENSES $1,575,653

Year-over-Year Comparison

2023 2022 Change
Revenue $1,580,768 $1,258,283 +0.3%
Expenses $1,575,653 $1,256,174 +0.3%
Net Income $5,115 $2,109 +1.4%
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
1
Employees
2
Volunteers
25

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
4
$75,510
Total Directors
8
$3,660
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANDI ARNOLD DIRECTOR 0.50
Director
$200 $0 $200
SOPHIA CHAI DIRECTOR 0.50
Director
$400 $0 $400
KARA E MALONEY TREASURER 0.50
Officer Director
$550 $0 $550
ROB HARDY DIRECTOR 0.50
Director
$300 $0 $300
JONATHAN D SWANSON AT-LARGE DIRECTOR 0.50
Director
$500 $0 $500
ELISHA A MARIN VICE PRESIDENT 0.50
Officer Director
$1,510 $0 $1,510
KJELLGREN ALKIRE PRESIDENT 0.50
Officer Director
$200 $0 $200
STEVE DIETZ DIRECTOR 0.50
Director
$0 $0 $0
ANASTASIA SHARTIN EXECUTIVE DIRECTOR 40.00
Officer
$65,750 $7,500 $73,250
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 $1,580,768 $1,575,653 $543,107 $5,115
2023 $1,258,283 $1,256,174 $381,693 $2,109
2022 $1,469,801 $1,485,709 $551,106 $-15,908
2021 $777,550 $750,110 $706,176 $27,440
2020 $1,049,653 $1,056,764 $326,643 $-7,111
2019 $1,092,045 $1,094,000 $164,508 $-1,955
2018 $1,015,408 $1,025,830 $144,612 $-10,422
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