ST LUKE'S FOUNDATION

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Principal Officer

LORI PECK

Phone

2182492420

Tax Period

2024-07-01 to 2025-06-30

ST LUKE'S FOUNDATION, founded in 1982, is a community nonprofit in the Health Care sector that reported $2.3M in total revenue in fiscal year 2024. Revenue surged 120% from the prior year, signaling strong growth momentum. Expenses of $2.0M left a modest 11% surplus.

Mission

ST. LUKE'S FOUNDATION PROVIDES FINANCIAL SUPPORT TO ASPIRUS ST. LUKE'S HOSPITAL OF DULUTH AND THE REGION IT SERVES TO ADVANCE PATIENT CARE, HEALTH EDUCATION, AND CLINICAL RESEARCH.

Program Service Accomplishments

Program 1

Expenses: $1,871,067 Revenue: $0

TO MAKE GRANTS TO ASPIRUS ST. LUKE'S HOSPITAL OF DULUTH AND OTHER ORGANIZATIONS TO PURCHASE MEDICAL EQUIPMENT AND SUPPLIES, AND TO PROVIDE HEALTHY LIFESTYLE EDUCATION TO BOTH THE PUBLIC AND HOSPITAL EMPLOYEES. DURING THE FISCAL YEAR ENDED JUNE 30, 2025, ASPIRUS ST. LUKE'S FOUNDATION PROVIDED $1,384,327 IN GRANTS TO ST. LUKE'S HOSPITAL OF DULUTH AND OTHER ORGANIZATIONS.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,692,086

Program Service Revenue $0

Investment Income $758,338

Other Revenue $-177,398

TOTAL REVENUE $2,273,026

Expense Breakdown

Grants Paid $1,384,327

Salaries & Benefits $470,723

Fundraising Expenses $0

Program Expenses $1,871,067

Other Expenses $170,029

TOTAL EXPENSES $2,025,079

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,273,026	$1,033,661	+1.2%
Expenses	$2,025,079	$666,162	+2.0%
Net Income	$247,947	$367,499	-0.3%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$7,763,260

Total Directors

$333,150

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JC WELLES	CHAIR	1.00	Officer Director	$0	$0	$0
CARMEN WENDLAND	VICE CHAIR	1.00	Officer Director	$0	$0	$0
STEVEN DASTOOR	TREASURER	1.00	Officer Director	$0	$0	$0
KERSTYN HENDRICKS	SECRETARY	1.00	Officer Director	$0	$0	$0
SCOTT LYONS	PAST CHAIR	1.00	Director	$0	$0	$0
WENDY ALTHOEN	DIRECTOR	1.00	Director	$0	$0	$0
DR WALDO AVELLO	DIRECTOR/PHYSICIAN	1.00	Director	$0	$2,133	$294,893
JUDY HARVEY	DIRECTOR	1.00	Director	$0	$0	$0
LINDSEY JACOBSON	DIRECTOR	1.00	Director	$0	$0	$0
JOHN LAWIEN	DIRECTOR	1.00	Director	$0	$0	$0
PAKOU LY	DIRECTOR (THRU 01/25)	1.00	Director	$0	$0	$0
JON NIEMI	DIRECTOR/PHYSICIAN	1.00	Director	$0	$6,422	$38,257
KAREN OLSON	DIRECTOR	1.00	Director	$0	$0	$0
RONI SALO	DIRECTOR (THRU 01/25)	1.00	Director	$0	$0	$0
CARRIE SCHERER	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW WEISZ	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW HEYWOOD	PRESIDENT & CEO ASPIRUS	2.00	Officer	$0	$361,440	$4,230,174
JERRY M YANG	SVP-CHIEF FINANCIAL OFFICER	2.00	Officer	$0	$138,394	$815,634
ERIC LOHN	CO-PRES./CEO & CFO (THRU 09/24)	1.00	Officer	$0	$224,034	$1,331,301
NICHOLAS VAN DEELEN MD	CO-PRESIDENT/CEO & CMO	1.00	Officer	$0	$197,401	$1,169,080
CATHERINE CARTER HUBER	EXECUTIVE DIRECTOR/CDO	1.00	Officer	$0	$5,538	$217,071

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	$2,273,026	$2,025,079	$18,199,938	$247,947
2024	No data	No data	No data	No data
2023	$1,598,383	$1,289,575	$15,474,436	$308,808
2022	$1,780,139	$1,768,562	$12,265,513	$11,577
2021	$2,156,464	$1,343,690	$14,804,830	$812,774
2020	$4,917,384	$1,653,635	$13,143,432	$3,263,749