RAINY RIVER COMMUNITY COLLEGE FOUNDATION

EIN: 411644956 501(c)(3) Education

INTL FALLS, MN

Total Revenue
$296,238
Total Expenses
$195,413
Total Assets
$2,773,972
Net Assets
$2,773,631
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
MN
Principal Officer
JIM KNAPP
Phone
2185989342
Tax Period
2024-07-01 to 2025-06-30

RAINY RIVER COMMUNITY COLLEGE FOUNDATION, founded in 1988, is a small nonprofit in the Education sector that reported $296K in total revenue in fiscal year 2024. The organization ran a surplus of $101K, a strong 34% operating margin.

Mission

INVESTING IN STUDENT SUCCESS AND OUR COMMUNITYS FUTURE THROUGH SCHOLARSHIPS AND COLLEGEDEVELOPMENT.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $177,372
Program Service Revenue $0
Investment Income $109,367
Other Revenue $9,499
TOTAL REVENUE $296,238

Expense Breakdown

Grants Paid $137,832
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $147,507
Other Expenses $57,581
TOTAL EXPENSES $195,413

Year-over-Year Comparison

2024 2023 Change
Revenue $296,238 $283,918 +0.0%
Expenses $195,413 $232,163 -0.2%
Net Income $100,825 $51,755 +0.9%
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

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Governance

Voting Members
14
Independent Members
14
Employees
N/A
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
5
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PATTI BALLAN BOARD MEMBER 1.00
Director
$0 $0 $0
JOANN DORNHECKER SECRETARY 1.00
Director
$0 $0 $0
SUE NORDQUIST BOARD MEMBER 1.00
Director
$0 $0 $0
BETH SHERMOEN BOARD MEMBER 1.00
Director
$0 $0 $0
MIKE WILLIAMS BOARD MEMBER 1.00
Director
$0 $0 $0
MOLLY BRAGG BOARD MEMBER 1.00
Director
$0 $0 $0
LAURIE KNAPP BOARD MEMBER 1.00
Director
$0 $0 $0
JIM KNAPP PRESIDENT 2.00
Director
$0 $0 $0
SUE ANDERSON BOARD MEMBER 1.00
Director
$0 $0 $0
TIM ANDERSON BOARD MEMBER 1.00
Director
$0 $0 $0
NANCYLEE JORGENSON BOARD MEMBER 1.00
Director
$0 $0 $0
ALLEN RASMUSSEN TREASURER 1.00
Officer
$0 $0 $0
ERIK STRAND BOARD MEMBER 1.00
Officer
$0 $0 $0
KRISTI HUFFAKER FOUNDATION EXECUTIVE DIRECTOR 20.00
Officer
$0 $0 $0
PAUL NEVANEN PRESIDENT 2.00
Officer
$0 $0 $0
RACHEL BERRY FACULTY BOARD MEMBER 1.00
Officer
$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 $296,238 $195,413 $2,773,972 $100,825
2024 $283,918 $232,163 $2,493,120 $51,755
2023 $620,083 $205,226 $2,304,923 $414,857
2022 $259,753 $154,743 $1,704,570 $105,010
2021 $157,068 $175,089 $2,067,223 $-18,021
2020 $136,761 $218,339 $1,799,553 $-81,578
2018 $273,204 $269,497 $1,877,309 $3,707
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