MINNESOTA VETERINARY MEDICAL FOUND… - 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

1990

Legal Domicile

Principal Officer

KELLY ANDREWS

Phone

6516457533

Tax Period

2024-08-01 to 2025-07-31

MINNESOTA VETERINARY MEDICAL FOUNDATION, founded in 1990, is a small nonprofit in the Animal-Related sector that reported $371K in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year. Net assets of $2.0M represent 64 months of operating reserves.

Mission

THE MISSION OF MINNESOTA VETERINARY MEDICAL FOUNDATION IS TO PROVIDE SCHOLARSHIPS AND EDUCATIONAL GRANTS TO BENEFIT ANIMAL HEALTH AND ENSURE THE FUTURE OF VETERINARY MEDICINE.

Program Service Accomplishments

Program 1

Expenses: $281,696 Revenue: $0

THE MVMF SEEKS TO BOLSTER THE FUTURE OF THE VETERINARY COMMUNITY ACROSS MINNESOTA THROUGH SCHOLARSHIPS AND GRANTS. SCHOLARSHIPS ARE AWARDED TO DVM AND POST-GRADUATE STUDENTS AT THE UNIVERSITY OF...

THE MVMF SEEKS TO BOLSTER THE FUTURE OF THE VETERINARY COMMUNITY ACROSS MINNESOTA THROUGH SCHOLARSHIPS AND GRANTS. SCHOLARSHIPS ARE AWARDED TO DVM AND POST-GRADUATE STUDENTS AT THE UNIVERSITY OF MINNESOTA, AND VETERINARY TECHNICIANS AT RIDGEWATER COLLEGE, ROCHESTER COMMUNITY AND TECHNICAL COLLEGE, MINNESOTA NORTH COLLEGE, NORTHWOOD TECHNICAL COLLEGE, AND DAKOTA COUNTY TECHNICAL COLLEGE. FOR SOME SCHOLARSHIPS, PRIORITY IS GIVEN TO THOSE LIVING IN A CERTAIN REGION IN MINNESOTA OR WHO GRADUATED FROM A MINNESOTA HIGH SCHOOL.GRANTS ARE AWARDED TO A VARIETY OF NONPROFIT ORGANIZATIONS AND FOUNDATIONS, STUDENT GROUPS, PROFESSIONAL ORGANIZATIONS, AND INDIVIDUALS, THAT HAVE PROGRAMS OR RESOURCES THAT BENEFIT THE VETERINARY COMMUNITY AND/OR ANIMAL HEALTH IN MINNESOTA.THE MVMF IS A 501(C)(3) NONPROFIT ORGANIZATION CREATED TO SERVE AS THE PHILANTHROPIC PARTNER OF THE MINNESOTA VETERINARY MEDICAL ASSOCIATION. RAISING FUNDS THROUGH PLANNED GIVING, EVENTS, AND INDIVIDUAL CONTRIBUTIONS IS AN ESSENTIAL COMPONENT THAT POWERS THE MVMF MISSION.WE HAVE INCREASED OUR PAID STAFFS' WORK HOURS AND HAVE A FIRST ANNUAL VET GALA SCHEDULED FOR THIS SPRING. WE ARE GROWING AND EXPANDING OUR REACH!OUR EVENT COMMITTEES, VOLUNTEERS, AND BOARD OF DIRECTORS HAVE CONTINUED TO RAISE THE CRITICAL FUNDS NEEDED TO SUPPORT THE FUTURE OF VETERINARY MEDICINE. ONCE AGAIN, OUR PROFESSION HAS PROVED TO BE GENEROUS AND SUPPORTIVE. OUR $200 CLUB, SILENT AUCTION, GOLF CLASSIC, AND CLAY SHOOT RAISED OVER $100,000 FOR STUDENT SCHOLARSHIPS IN 2024-25!

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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 $217,391

Program Service Revenue $0

Investment Income $68,538

Other Revenue $85,463

TOTAL REVENUE $371,392

Expense Breakdown

Grants Paid $263,250

Salaries & Benefits $0

Fundraising Expenses $57,274

Program Expenses $281,696

Other Expenses $122,847

TOTAL EXPENSES $386,097

Year-over-Year Comparison

	2024	2023	Change
Revenue	$371,392	$454,194	-0.2%
Expenses	$386,097	$345,936	+0.1%
Net Income	$-14,705	$108,258	-1.1%

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

$156,637

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HEIDI MITTELSTEADT DVM	PRESIDENT	1.00	Officer Director	$0	$0	$0
ERIN BURTON DVM	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
LINDA SPENGLER	SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
JAMES BENNETT DVM	DIRECTOR, PAST PRESIDENT MVMA	0.50	Director	$0	$0	$0
MATT KRUSE DVM	DIRECTOR	0.50	Director	$0	$0	$0
JENNIFER SCOTT-DODD DVM	DIRECTOR	0.50	Director	$0	$0	$0
WILLIAM BUTLER	DIRECTOR BEGINNING 2024	0.50	Director	$0	$0	$0
AMBER OLSON DVM	DIRECTOR	0.50	Director	$0	$0	$0
JASON NORDAUNE DVM	DIRECTOR	0.50	Director	$0	$0	$0
CHRIS ANDERSON DVM	DIRECTOR BEGINNING 2024	0.50	Director	$0	$0	$0
KARL OMDAHL	DIRECTOR	0.50	Director	$0	$0	$0
AMY O'BRIEN DVM	DIRECTOR	0.50	Director	$0	$0	$0
TOM WETZELL DVM	DIRECTOR	0.50	Director	$0	$0	$0
KELLY ANDREWS	EXECUTIVE DIRECTOR	5.00	Officer	$0	$16,050	$156,637

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	$371,392	$386,097	$1,996,095	$-14,705
2024	$454,194	$345,936	$1,905,695	$108,258
2023	$383,762	$346,207	$1,733,097	$37,555
2022	$317,114	$274,777	$1,610,554	$42,337
2021	$522,491	$229,904	$1,836,481	$292,587
2020	$425,878	$228,170	$1,426,087	$197,708
2019	$369,806	$199,445	$1,154,600	$170,361

MINNESOTA VETERINARY MEDICAL FOUNDATION