Duluth, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)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.
The 1200 Fund's purpose is to provide low or no interest loans & other financial assistance (grants) to local Duluth area individuals and businesses to confront economic deterioration & loss of jobs. Financing, provided by a governmental funded revolving loan fund, is intended to provide assistance to individuals & businesses that aren't able to obtain affordable, adequate, or appropriate financing from other conventional sources. The primary requirement for assistance is the recipient provides for new job creation and/or retention of existing jobs.
There were 4 new 1200 Fund Advance loans that were approved and drawn down in 2024. The Advance loans have a provision for partial loan forgiveness based on the number of new jobs created and...
There were 4 new 1200 Fund Advance loans that were approved and drawn down in 2024. The Advance loans have a provision for partial loan forgiveness based on the number of new jobs created and maintained for a specific period of time. (For the Advance loans with a partial loan forgiveness clause, quarterly job reporting is required in order to substantiate the amount of loan forgiveness that will be granted to the borrowers upon fulfillment of the loan agreements' job creation & maintenance requirements.) In 2024, there were no business entities that qualified for Advance loan forgiveness because of achieving their job creation and maintenance provisions of their loans; nor, did any of the Daycare related Advanced loans in 2024 meet the required number of childcare slots created and maintained for a specified amount of time, per their agreements. The Duluth Downtown and West End/Lincoln Park business and retail areas continue to suffer from the many business closings, from the effects of the COVID pandemic, with many empty and unoccupied office and retail spaces still remaining in 2024. In 2023, The 1200 Fund started the Mentorship Loan Program, which are low interest loans given to new businesses to assist them in their startup costs and to build credit, along with assistance from SCORE.org, known for their expert business knowledge & support for businesses. In 2024, the 1200 Fund gave 7 Mentorship loans. In 2024, 2 grants were given to a local non-profit foundation for 2 different child care grants, to promote growth of child care spots in the area, which is in great shortage; and 1 grant was given to a Business Club to promote their business district and to stimulate the growth & success of the area businesses.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 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% |
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
Sign In| 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 |
| 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 |
Compare DULUTH 1200 FUND INC with other nonprofits in Minnesota and across the country.