REIF ARTS COUNCIL

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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

1982

Legal Domicile

Principal Officer

JAMES MACK

Phone

2183275780

Tax Period

2024-07-01 to 2025-06-30

REIF ARTS COUNCIL, founded in 1982, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.6M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $253K, a strong 16% operating margin.

Mission

THE ORGANIZATION'S MISSION IS TO STIMULATE ARTS IN NORTHERN MINNESOTA.

Program Service Accomplishments

Program 1

Expenses: $980,159 Revenue: $794,537

THE REIF ARTS COUNCIL PROVIDES ARTISTIC, EDUCATIONAL AND CULTURAL ACTIVITIES AND EVENTS FOR THE SURROUNDING COMMUNITIES. THIS IS ACCOMPLISHED BY PROVIDING LIVE PERFORMANCES, OFFERING AN ACCLAIMED...

THE REIF ARTS COUNCIL PROVIDES ARTISTIC, EDUCATIONAL AND CULTURAL ACTIVITIES AND EVENTS FOR THE SURROUNDING COMMUNITIES. THIS IS ACCOMPLISHED BY PROVIDING LIVE PERFORMANCES, OFFERING AN ACCLAIMED STUDENT DANCE PROGRAM AND SUPPORTING VARIOUS OTHER LOCAL ORGANIZATIONS BY OFFERING ITS FACILITIES FOR PARTNERSHIP WITH THE ITASCA ORCHESTRA AND STRINGS PROGRAM AND THE GRAND RAPIDS PLAYERS WHO ARE IN-HOUSE TENANTS AND WHO OFFER PERFORMANCES AND CLASSES IN THE REIF VENUE. THE ORGANIZATION HAS ALSO JOINED WITH THE GRAND RAPIDS PLAYERS TO LAUNCH A YOUTH THEATER PROGRAM WITH CLASSES AND PERFORMANCES.

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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 $776,964

Program Service Revenue $794,537

Investment Income $19,820

Other Revenue $28,107

TOTAL REVENUE $1,619,428

Expense Breakdown

Grants Paid $0

Salaries & Benefits $678,820

Fundraising Expenses $177,425

Program Expenses $980,159

Other Expenses $687,374

TOTAL EXPENSES $1,366,194

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,619,428	$1,410,910	+0.1%
Expenses	$1,366,194	$1,461,060	-0.1%
Net Income	$253,234	$-50,150	-6.0%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATIE CARGILL	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
MICHELLE ARNHOLD DAVIES	VICE CHAIR	1.00	Officer Director	$0	$0	$0
TRICIA STERLE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ANGELA TOBECK	VICE CHAIR	1.00	Officer Director	$0	$0	$0
HEATHER PEDERSON	SECRETARY	1.00	Director	$0	$0	$0
JONI NAMYST	DIRECTOR	1.00	Director	$0	$0	$0
DAVE COWAN	DIRECTOR	1.00	Director	$0	$0	$0
KISHA HARMS	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT WARD JR	DIRECTOR	1.00	Director	$0	$0	$0
MYRNA PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
SAM JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
CHARLIE BLACK	DIRECTOR	1.00	Director	$0	$0	$0
EMILIE RONDEAU	DIRECTOR	1.00	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
2025	$1,619,428	$1,366,194	$742,536	$253,234
2024	$1,410,910	$1,461,060	$384,309	$-50,150
2023	$1,427,756	$1,752,316	$513,469	$-324,560
2022	$2,139,857	$1,570,397	$931,251	$569,460
2021	$599,936	$798,713	$543,366	$-198,777
2020	$1,377,956	$1,297,312	$641,981	$80,644
2019	$1,175,014	$1,441,869	$639,162	$-266,855
2018	$1,036,774	$1,432,322	$739,184	$-395,548