ECONOMIC INITIATIVES OF CANNON FAL… - Form 990 Financial Data

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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

2009

Legal Domicile

Phone

5072634945

Tax Period

2024-01-01 to 2024-12-31

ECONOMIC INITIATIVES OF CANNON FALLS INC, founded in 2009, is a micro nonprofit in the Community Improvement sector that reported $23K in total revenue in fiscal year 2024. Revenue surged 21% from the prior year, signaling strong growth momentum. The organization ran a surplus of $22K, a strong 95% operating margin.

Mission

THE ORGANIZATION WAS FORMED TO INVITE AND ASSIST NEW BUSINESSES TO LOCATE IN CANNON FALLS, MINNESOTA.

Program Service Accomplishments

Program 1

Revenue: $9,988

THE ORGANIZATION ADMINISTERED 8 LOANS TO SMALL BUSINESSES IN 2024. CONTRIBUTIONS ARE MADE TO THE LOCAL CHAMBER OF COMMERCE AND ANOTHER AREA ECONOMIC DEVELOPMENT ASSOCIATION TO HELP IN PROMOTION OF...

THE ORGANIZATION ADMINISTERED 8 LOANS TO SMALL BUSINESSES IN 2024. CONTRIBUTIONS ARE MADE TO THE LOCAL CHAMBER OF COMMERCE AND ANOTHER AREA ECONOMIC DEVELOPMENT ASSOCIATION TO HELP IN PROMOTION OF CANNON FALLS AREA BUSINESSES.

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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 $9,988

Investment Income $13,101

Other Revenue $0

TOTAL REVENUE $23,089

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $1,256

TOTAL EXPENSES $1,256

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,089	$19,148	+0.2%
Expenses	$1,256	$2,110	-0.4%
Net Income	$21,833	$17,038	+0.3%

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
KEITH MEYERS	Vice President	1.00	Officer Director	$0	$0	$0
SHELLY BOLDON	Secretary	1.00	Officer Director	$0	$0	$0
MARY REINHARDT	Treasurer	1.00	Officer Director	$0	$0	$0
PHIL JACOBSON	Director	1.00	Director	$0	$0	$0
KIM O'REILLY	Director	1.00	Director	$0	$0	$0
JOHN PETERSON	President	1.00	Officer Director	$0	$0	$0
JAMES ALTHOFF	President	1.00	Director	$0	$0	$0
DIANA WALTMAN	Director	1.00	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
2025	No data	No data	No data	No data
2024	$23,089	$1,256	$664,711	$21,833
2023	$19,148	$2,110	$642,878	$17,038
2022	$11,223	$1,000	$625,840	$10,223
2021	$8,108	$1,735	$615,617	$6,373
2020	$8,538	$1,445	$609,244	$7,093
2019	$8,959	$7,396	$602,151	$1,563
2018	$12,061	$6,021	$600,588	$6,040

ECONOMIC INITIATIVES OF CANNON FALLS INC