OSAKIS ECONOMIC DEVELOPMENT CORPOR… - Form 990 Financial Data

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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

BECKY HENSLEY

Phone

3208593777

Tax Period

2020-01-01 to 2020-12-31

OSAKIS ECONOMIC DEVELOPMENT CORPORATION, founded in 1982, is a micro nonprofit that reported $18K in total revenue in fiscal year 2020. Revenue fell 266% from the prior year — a significant decline worth monitoring.

Mission

THE ORGANIZATION CONDUCTS ACTIVITIES TO PROMOTE COMMUNITY ECONOMIC DEVELOPMENT.

Program Service Accomplishments

Program 1

Expenses: $1,151 Revenue: $2,622

THE OSAKIS ECONOMIC DEVELOPMENT CORPORATION ADVANCED, PROMOTED, ENCOURAGED, AND STIMULATED THE ECONOMIC AND INDUSTRIAL GROWTH OF OSAKIS AND THE SURROUNDING AREA. IT ALSO ENCOURAGED THE ESTABLISHMENT OR EXPANSION OF BUSINESSES AND INDUSTRIES. IT ALSO SUPPORTED THE VISITOR/HERITAGE CENTER. THE ORGANIZATION HAS APPROXIMATELY 72 MEMBERS.

Program 2

DONATIONS TO THE CITY OF OSAKIS FOR THE PURPOSE OF ECONOMIC DEVELOPMENT TOTAL OF $1,732 DURING 2020 IN MN LAWFUL GAMBLING EXPENDITURES. THESE EXPENDITURES BENEFIT THOUSANDS OF LOCAL CITIZENS.

Program 3

Expenses: $270

DONATION FOR BACK PACK ATTACK - FOR SCHOOL CHILDREN FOOD FOR HOME. DONATION TO OSAKIS FIRE DEPARTMENT.

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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 (2020)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,622

Investment Income $17

Other Revenue $-20,971

TOTAL REVENUE $-18,332

Expense Breakdown

Grants Paid $1,732

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $1,421

Other Expenses $-311

TOTAL EXPENSES $1,421

Year-over-Year Comparison

	2020	2019	Change
Revenue	$-18,332	$11,024	-2.7%
Expenses	$1,421	$2,713	-0.5%
Net Income	$-19,753	$8,311	-3.4%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BECKY HENSLEY	PRESIDENT	2.00	Officer Director	$0	$0	$0
RODGER LARSON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
NICHOL NESSMAN	SECRETARY	1.00	Officer Director	$0	$0	$0
GRETA KOCH	TREASURER	2.00	Officer Director	$0	$0	$0
SHAD SCHMIDT	DIRECTOR	1.00	Director	$0	$0	$0
GREG WEILER	DIRECTOR	1.00	Director	$0	$0	$0
LILLIAN ORTENDAHL	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
2020	$-18,332	$1,421	$22,670	$-19,753
2019	$11,024	$2,713	$43,125	$8,311
2018	$3,183	$5,173	$35,449	$-1,990

OSAKIS ECONOMIC DEVELOPMENT CORPORATION