MINNESOTA FOUNDATION FOR FISCAL EXCELLENCE (EIN 411426868) - 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

1983

Legal Domicile

Principal Officer

MARK HAVEMAN

Phone

6512247477

Tax Period

2024-01-01 to 2024-12-31

MINNESOTA FOUNDATION FOR FISCAL EXCELLENCE, founded in 1983, is a micro nonprofit in the Philanthropy & Grantmaking sector that reported $74K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring. Expenses of $204K exceeded revenue, resulting in a 175% operating deficit.

Mission

TO PROVIDE OBJECTIVE RESEARCH AND ANALYSIS ON STATE AND LOCAL TAX AND SPENDING ISSUES IN SUPPORT OF EFFECTIVE, EFFICIENT, AND ACCOUNTABLE GOVERNMENT. THIS ORGANIZATION IS A SUPPORTING ORGANIZATION OF THE MINNESOTA CENTER FOR FISCAL EXCELLENCE, A TAX-EXEMPT CORPORATION.

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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 $61,760

Program Service Revenue $0

Investment Income $12,452

Other Revenue $0

TOTAL REVENUE $74,212

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $58,648

Other Expenses $204,169

TOTAL EXPENSES $204,169

Year-over-Year Comparison

	2024	2023	Change
Revenue	$74,212	$93,536	-0.2%
Expenses	$204,169	$48,659	+3.2%
Net Income	$-129,957	$44,877	-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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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

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

$129,310

Total Directors

$129,310

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK HAVEMAN	EXECUTIVE DIRECTOR	10.00	Officer Director	$0	$3,766	$129,310
ANDREW BOSL	PRESIDENT	1.00	Officer Director	$0	$0	$0
THOMAS GOTTWALT	TREASURER	2.00	Officer Director	$0	$0	$0
DAN PETERSON	DIRECTOR	0.50	Director	$0	$0	$0
DAN LORITZ	DIRECTOR	0.50	Director	$0	$0	$0
SARAH GETTE	DIRECTOR	0.50	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	$74,212	$204,169	$611,822	$-129,957
2023	$93,536	$48,659	$669,423	$44,877
2022	$62,808	$70,265	$585,671	$-7,457
2021	$67,381	$69,959	$657,946	$-2,578
2020	$88,403	$42,946	$576,421	$45,457

MINNESOTA FOUNDATION FOR FISCAL EXCELLENCE