BETHESDA FOUNDATION OF WILLMAR

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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

MICHELLE HAEFNER

Phone

3202359532

Tax Period

2023-10-01 to 2024-09-30

BETHESDA FOUNDATION OF WILLMAR, founded in 1983, is a small nonprofit in the Housing & Shelter sector that reported $407K in total revenue in fiscal year 2023. Revenue surged 47% from the prior year, signaling strong growth momentum. The organization ran a surplus of $297K, a strong 73% operating margin.

Mission

BETHESDA FOUNDATION IS DRIVEN TO AMPLIFY THE MISSION AND MINISTRY OF BETHESDA THROUGH PHILANTHROPY.

Program Service Accomplishments

Program 1

Expenses: $33,154 Revenue: $0

PROVISION OF SUPPORT AND FUNDING TO BETHESDA, CENTENNIAL SQUARE, AND SUNRISE VILLAGE, ALL 501(C)(3) ORGANIZATIONS, IN ORDER TO ASSIST THEM IN PROVIDING NURSING CARE AND HOUSING TO THE ELDERLY.

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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 $376,753

Program Service Revenue $0

Investment Income $44,855

Other Revenue $-15,037

TOTAL REVENUE $406,571

Expense Breakdown

Grants Paid $33,154

Salaries & Benefits $46,222

Fundraising Expenses $7,655

Program Expenses $33,154

Other Expenses $30,533

TOTAL EXPENSES $109,909

Year-over-Year Comparison

	2023	2022	Change
Revenue	$406,571	$276,729	+0.5%
Expenses	$109,909	$1,036,527	-0.9%
Net Income	$296,662	$-759,798	-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

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

$698,891

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE KVEENE	CHAIR	0.10	Officer Director	$0	$0	$0
STEVE DRESSER	VICE CHAIR	0.10	Officer Director	$0	$0	$0
NOAH HULTGREN	TREASURER	0.10	Officer Director	$0	$0	$0
CONNIE VENDERBILL-MEDIN	SECRETARY	0.10	Officer Director	$0	$0	$0
THOMAS GILBERTSON	SECRETARY	0.10	Officer Director	$0	$0	$0
PAULETTE LINDQUIST	DIRECTOR	0.10	Director	$0	$0	$0
MILT SWENSON	DIRECTOR	0.10	Director	$0	$0	$0
KAREN MARCUS	DIRECTOR	0.10	Director	$0	$0	$0
MYRON BEHM	DIRECTOR	0.10	Director	$0	$0	$0
LISA THIELKE	DIRECTOR	0.10	Director	$0	$0	$0
MICHELLE HAEFNER	CEO	8.00	Officer	$0	$42,961	$362,825
TAMALA GJERDE	FINANCE DIRECTOR	8.00	Officer	$0	$28,301	$119,929
MARY LATHAM	FOUNDATION DIRECTOR	32.00	Officer	$0	$500	$48,549
SAM QUAM	VP OF OPERATIONS	8.00	Officer	$0	$35,990	$167,588

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	$406,571	$109,909	$1,999,813	$296,662
2023	$276,729	$1,036,527	$1,622,897	$-759,798
2022	$646,195	$81,712	$2,343,962	$564,483
2021	$480,443	$101,481	$1,874,962	$378,962
2020	$291,946	$103,827	$1,408,684	$188,119
2019	$118,195	$92,097	$1,314,147	$26,098
2018	$715,151	$1,831,937	$1,280,426	$-1,116,786