WELSTORES OF MINNESOTA INC

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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

1984

Legal Domicile

Principal Officer

MIKE TRIPP

Phone

7636824178

Tax Period

2024-01-01 to 2024-12-31

WELSTORES OF MINNESOTA INC, founded in 1984, is a small nonprofit in the Unknown sector that reported $405K in total revenue in fiscal year 2024.

Mission

TO SUPPORT OTHER TAX EXEMPT ORGANIZATIONS BY RAISING FUNDS THROUGH A THRIFT STORE.

Program Service Accomplishments

Program 1

Expenses: $360,029

THE ORGANIZATION RAISES FUNDS THROUGH THE OPERATION OF A THRIFT STORE WHICH SELLS DONATED GOODS. THE THRIFT STORE ACTIVITIES ARE CONDUCTED THROUGH THE USE OF VOLUNTEER SERVICES. THE RECEIPTS OF THE...

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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 $405,017

Program Service Revenue $0

Investment Income $73

Other Revenue $0

TOTAL REVENUE $405,090

Expense Breakdown

Grants Paid $149,286

Salaries & Benefits $169,498

Fundraising Expenses $0

Program Expenses $363,742

Other Expenses $93,979

TOTAL EXPENSES $412,763

Year-over-Year Comparison

	2024	2023	Change
Revenue	$405,090	$402,186	+0.0%
Expenses	$412,763	$410,702	+0.0%
Net Income	$-7,673	$-8,516	-0.1%

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

186

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
BARB BELTRAND	SECRETARY	2.00	Officer Director	$0	$0	$0
RANDY HEBB	DIRECTOR	1.00	Director	$0	$0	$0
MARK KAESMEYER	DIRECTOR	1.00	Director	$0	$0	$0
BETSY LIBERATO	DIRECTOR	1.00	Director	$0	$0	$0
SHARYN MANTEL	DIRECTOR	1.00	Director	$0	$0	$0
MORRIS RAU	DIRECTOR	1.00	Director	$0	$0	$0
DAN SMITH	DIRECTOR	1.00	Director	$0	$0	$0
GINA THOMFORDE	TREASURER	1.00	Officer Director	$0	$0	$0
MIKE TRIPP	PRESIDENT	1.00	Officer 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
2024	$405,090	$412,763	$325,762	$-7,673
2023	$402,186	$410,702	$345,952	$-8,516
2022	$416,249	$436,519	$342,070	$-20,270
2021	$459,781	$497,409	$362,522	$-37,628
2020	$358,272	$350,829	$421,976	$7,443
2019	$468,239	$483,595	$389,352	$-15,356
2018	$454,507	$428,209	$404,708	$26,298