DULUTH 1200 FUND INC (EIN 411520829) - Form 990 Financial Analysis & Trantor Score

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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

1985

Legal Domicile

Principal Officer

Laura Mullen

Phone

2187305054

Tax Period

2024-01-01 to 2024-12-31

DULUTH 1200 FUND INC, founded in 1985, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2024. Revenue surged 1166% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.4M, a strong 83% operating margin.

Mission

The purpose of the 1200 Fund is to provide low, or no interest loans and other financial assistance (grants) to eligible individuals and businesses located in or near the City of Duluth, MN, in order to create and/or retain jobs and confront economic deterioration within the Duluth area.

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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 $1,550,000

Program Service Revenue $54,469

Investment Income $91,959

Other Revenue $0

TOTAL REVENUE $1,696,428

Expense Breakdown

Grants Paid $187,917

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $281,106

Other Expenses $93,189

TOTAL EXPENSES $281,106

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,696,428	$134,046	+11.7%
Expenses	$281,106	$418,100	-0.3%
Net Income	$1,415,322	$-284,054	-6.0%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Laura Mullen	President/Director	0.50	Director	$0	$0	$0
Julie Pierce	Vice President/Director	0.50	Director	$0	$0	$0
Emily Vikre	Director	0.50	Director	$0	$0	$0
Fred Lewis	Director	0.50	Director	$0	$0	$0
Jebeh Edmunds	Director	0.50	Director	$0	$0	$0
Simone Giacomelli	Director	0.50	Director	$0	$0	$0
Tara Swenson	City Council Representative	0.50	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	$1,696,428	$281,106	$4,259,009	$1,415,322
2023	$134,046	$418,100	$2,853,742	$-284,054
2022	$1,553,814	$152,208	$3,115,716	$1,401,606
2021	$25,658	$53,492	$1,711,403	$-27,834
2020	$44,104	$1,377,352	$1,742,903	$-1,333,248

DULUTH 1200 FUND INC