GLACIAL RIDGE HOSPITAL FOUNDATION

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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

1986

Legal Domicile

Principal Officer

KIRK STENSRUD

Phone

3206344521

Tax Period

2024-10-01 to 2025-09-30

GLACIAL RIDGE HOSPITAL FOUNDATION, founded in 1986, is a community nonprofit in the Human Services sector that reported $2.0M in total revenue in fiscal year 2024. Revenue surged 36% from the prior year, signaling strong growth momentum. The organization ran a surplus of $831K, a strong 42% operating margin.

Mission

TO DEVELOP AND ADMINISTER PROGRAMS THAT WILL PROVIDE FINANCIAL RESOURCES THROUGH VOLUNTARY GIVING FOR SPECIAL PROJECTS OF THE GLACIAL RIDGE HOSPITAL AND GLACIAL RIDGE HOSPITAL DISTRICT, AND SUCH OTHER ORGANIZATIONS.

Program Service Accomplishments

Program 1

Expenses: $1,154,382 Revenue: $1,487,028

THE MAIN PROGRAM OF THE FOUNDATION IS OPERATIONS OF THE RIDGEWOOD VILLA INDEPENDENT LIVING CENTER "THE VILLA". RIDGEWOOD VILLA IS A 59+ BED INDEPENDENT LIVING CAMPUS IN GLENWOOD, MN THAT OFFERS...

THE MAIN PROGRAM OF THE FOUNDATION IS OPERATIONS OF THE RIDGEWOOD VILLA INDEPENDENT LIVING CENTER "THE VILLA". RIDGEWOOD VILLA IS A 59+ BED INDEPENDENT LIVING CAMPUS IN GLENWOOD, MN THAT OFFERS RESIDENTS THE FREEDOM TO LIVE INDEPENDENTLY WHILE PROVIDING MANY OF THE COMFORTS OF HOME AND OPPORTUNITIES TO GATHER WITH FRIENDS. IT IS CONVENIENTLY LOCATED ACROSS THE STREET FROM THE GLACIAL RIDGE HEALTH SYSTEM AND OPERATES AN URGENT CALL SYSTEM MONITORED BY GLACIAL RIDGE HOSPITAL 24 HOURS A DAY. THE FACILITY IS EQUIPPED WITH STATE OF THE ART FIRE PROTECTION AND SECURED ENTRANCES. FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2025 RIDGEWOOD VILLA HAD 54 UNITS OCCUPIED AND OPERATED AT 93% CAPACITY. MONTHLY RENT INCLUDES HOMEMADE MEALS SERVED EACH DAY AT NOON, 365 DAYS A YEAR AND BREAKFAST 5 DAYS A WEEK, FULL USE OF THE FIRESIDE LOUNGE, ACTIVITY LOUNGE, LIBRARY, CHAPEL AND GAME ROOM. VARIOUS ACTIVITIES ARE PROVIDED FOR RESIDENTS 2-3 TIMES PER WEEK. THE GAME ROOM IS USED FOR BINGO, CARDS, PUZZLES AND OTHER SOCIAL GATHERINGS. THE CHAPEL IS OPEN FOR RESIDENTS TO USE TO FULFILL THEIR SPIRITUAL NEEDS. RESIDENTS HAVE THE OPTION TO PURCHASE ADDITIONAL SERVICES, SUCH AS HOME HEALTH CARE, LAUNDRY, GROCERY DELIVERY, ADDITIONAL HOUSEKEEPING OR MEAL SERVICES AND PERSONAL ALARM MEDALLIONS ARE ALSO AVAILABLE TO RESIDENTS.STANDARD AND DELUXE 1 AND 2 BEDROOM APARTMENTS ARE AVAILABLE. THE VILLA HAS 59 UNITS FOR RENTAL TO THOSE AGE 55 PLUS. ADDITIONAL AMENITIES INCLUDE GLACIAL RIDGE WELLNESS CENTER WITH AN EXERCISE POOL AND A PHARMACY AND GIFT SHOP.

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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 $467,664

Program Service Revenue $1,487,028

Investment Income $38,556

Other Revenue $-4,381

TOTAL REVENUE $1,988,867

Expense Breakdown

Grants Paid $0

Salaries & Benefits $148,962

Fundraising Expenses $0

Program Expenses $1,154,382

Other Expenses $1,008,588

TOTAL EXPENSES $1,157,550

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,988,867	$1,466,416	+0.4%
Expenses	$1,157,550	$1,093,039	+0.1%
Net Income	$831,317	$373,377	+1.2%

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

$691,985

Total Directors

$365,498

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KIRK STENSRUD	CEO	40.00	Officer Director	$0	$39,496	$365,498
DENNIS MARTINSON	CHAIR	1.00	Officer Director	$0	$0	$0
BRUCE HARVEY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
MARY JOHNSON	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
DUAINE ESSIG	DIRECTOR	1.00	Director	$0	$0	$0
KAREN DEMORETT	DIRECTOR	1.00	Director	$0	$0	$0
KYLE CHASE	CFO	40.00	Officer	$0	$22,149	$211,987
DARYL KLOUS	EXECUTIVE DIRECTOR	40.00	Officer	$0	$15,639	$114,500

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
2025	$1,988,867	$1,157,550	$9,133,010	$831,317
2024	$1,466,416	$1,093,039	$8,587,476	$373,377
2023	$1,306,265	$1,109,047	$8,492,546	$197,218
2022	$1,165,670	$1,092,358	$8,586,027	$73,312
2021	$1,214,806	$1,124,769	$8,841,367	$90,037
2020	$1,265,849	$1,133,670	$9,002,291	$132,179
2019	$1,245,685	$1,131,120	$9,044,784	$114,565
2018	$1,113,629	$1,133,088	$9,346,760	$-19,459