MINNESOTA SHOPPING CENTER ASSOCIATION (EIN 411609394) - 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

1988

Legal Domicile

Principal Officer

EMILY BECKER

Phone

9528883491

Tax Period

2024-10-01 to 2025-09-30

MINNESOTA SHOPPING CENTER ASSOCIATION, founded in 1988, is a small nonprofit that reported $487K in total revenue in fiscal year 2024.

Mission

TO PROVIDE A FORUM FOR EXCHANGE OF INFORMATION AMONG SHOPPING CENTER DEVELOPERS, OWNERS, MANAGERS, BROKERS, INVESTORS, RETAILERS, AND ALL PROFESSIONALS SERVING THE MINNESOTA RETAIL REAL ESTATE INDUSTRY FOR MUTUAL BENEFIT.

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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 $0

Program Service Revenue $486,214

Investment Income $1,018

Other Revenue $250

TOTAL REVENUE $487,482

Expense Breakdown

Grants Paid $0

Salaries & Benefits $187,498

Fundraising Expenses $0

Other Expenses $312,228

TOTAL EXPENSES $499,726

Year-over-Year Comparison

	2024	2023	Change
Revenue	$487,482	$463,885	+0.1%
Expenses	$499,726	$495,603	+0.0%
Net Income	$-12,244	$-31,718	-0.6%

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

215

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

$169,178

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEREMY WELTER	PRESIDENT/PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
MATT HAZELTON	1ST VP/PRESIDENT	1.00	Officer Director	$0	$0	$0
EMILY BECKER	2ND VP/1ST VP	1.00	Officer Director	$0	$0	$0
ROSEANNE HOPE	SECRETARY (THROUGH NOV)	1.00	Officer Director	$0	$0	$0
ELLIOT CHRISTENSEN	TREASURER	1.00	Officer Director	$0	$0	$0
BRENDA NEUENFELDT	DIRECTOR/SECRETARY	1.00	Officer Director	$0	$0	$0
GREGORY HOUCK	DIRECTOR (THROUGH NOV)	1.00	Director	$0	$0	$0
LEE KRUEGER	DIRECTOR	1.00	Director	$0	$0	$0
GENEVIEVE LIESENER	DIRECTOR/2ND VP	1.00	Officer Director	$0	$0	$0
MIKE STURDIVANT	DIRECTOR (THROUGH NOV)	1.00	Director	$0	$0	$0
JOAN SUKO	DIRECTOR	1.00	Director	$0	$0	$0
CORY VILLAUME	DIRECTOR	1.00	Director	$0	$0	$0
EMILEE DECOTEAU	PAST PRESIDENT/DIRECTOR (THROUGH NOV)	1.00	Officer Director	$0	$0	$0
ROB BARSE	DIRECTOR	1.00	Director	$0	$0	$0
ALAN CATCHPOOL	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE EID	DIRECTOR	1.00	Director	$0	$0	$0
JACKIE MILLER	DIRECTOR	1.00	Director	$0	$0	$0
KARLA KELLER TORP	EXECUTIVE DIRECTOR	40.00	Officer	$146,063	$23,115	$169,178

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	$487,482	$499,726	$153,593	$-12,244
2024	$463,885	$495,603	$166,087	$-31,718
2023	$387,240	$453,113	$214,500	$-65,873
2022	$370,932	$420,211	$271,913	$-49,279
2021	$327,005	$371,271	$327,419	$-44,266
2020	$388,127	$439,840	$379,437	$-51,713
2019	$485,556	$475,460	$431,053	$10,096
2018	$526,690	$478,325	$423,401	$48,365

MINNESOTA SHOPPING CENTER ASSOCIATION