VISITBEMIDJI

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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

1989

Legal Domicile

Principal Officer

BRENDA BAILEY

Tax Period

2023-01-01 to 2023-12-31

VISITBEMIDJI, founded in 1989, is a small nonprofit that reported $588K in total revenue in fiscal year 2023. Expenses of $736K exceeded revenue, resulting in a 25% operating deficit.

Mission

OUR MISSION IS TO PROMOTE THE CITY OF BEMIDJI TO VISITORS AND CONVENTION ORGANIZERS BY ADVERTISING, SOLICITING, CONVENTIONS AND BY SPECIAL PROMOTIONS.

Program Service Accomplishments

Program 1

Expenses: $607,333

THE ORGANIZATION PROMOTED THE CITY OF BEMIDJI TO VISITORS AND CONVENTION ORGANIZERS BY ADVERTISING, SOLICITING, CONVENTIONS AND BY SPECIAL PROMOTION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $15,000

Program Service Revenue $565,658

Investment Income $388

Other Revenue $7,045

TOTAL REVENUE $588,091

Expense Breakdown

Grants Paid $0

Salaries & Benefits $208,441

Fundraising Expenses $0

Program Expenses $607,333

Other Expenses $527,809

TOTAL EXPENSES $736,250

Year-over-Year Comparison

	2023	2022	Change
Revenue	$588,091	$559,164	+0.1%
Expenses	$736,250	$676,495	+0.1%
Net Income	$-148,159	$-117,331	+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

Volunteers

N/A

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

$76,075

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSH PETERSON	EXECUTIVE DIRECTOR	40.00	Officer	$76,075	$0	$76,075
ABBY RANDALL	DIRECTOR	2.00	Director	$0	$0	$0
RON JOHNSON	DIRECTOR	2.00	Director	$0	$0	$0
RICH SPICZKA	DIRECTOR	2.00	Director	$0	$0	$0
TYLER WINKA	DIRECTOR	2.00	Director	$0	$0	$0
RICH SIEGERT	DIRECTOR	2.00	Director	$0	$0	$0
DAVE HENGEL	DIRECTOR	2.00	Director	$0	$0	$0
JASON BRODINA	DIRECTOR	2.00	Director	$0	$0	$0
PETE HARRISON	DIRECTOR	2.00	Director	$0	$0	$0
BRENDA BAILEY	PRESIDENT	2.00	Officer Director	$0	$0	$0
BOBBY ANDERSON	SECRETARY	2.00	Officer Director	$0	$0	$0
MICHELLE FISCHER	VICE PRESIDENT	2.00	Officer 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	No data	No data	No data	No data
2023	$588,091	$736,250	$301,640	$-148,159
2022	$559,164	$676,495	$439,041	$-117,331
2021	$570,410	$470,267	$445,487	$100,143
2020	$354,075	$346,858	$337,368	$7,217
2019	$466,992	$395,661	$309,169	$71,331
2019	$473,992	$395,661	$316,169	$78,331
2018	$468,539	$442,234	$231,667	$26,305