BETHESDA FOUNDATION OF WILLMAR

EIN: 411457903 501(c)(3) Housing & Shelter

WILLMAR, MN

Total Revenue
$406,571
Total Expenses
$109,909
Total Assets
$1,999,813
Net Assets
$1,993,848
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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
MN
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

SUPPORTING ORGANIZATION OF BETHESDA AND AFFILIATES.

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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 $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

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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
32

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
9
$698,891
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
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
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
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