Moorhead Legacy Education Foundation

EIN: 411689598 501(c)(3) Education

Moorhead, MN

Total Revenue
$367,977
Total Expenses
$271,995
Total Assets
$1,977,869
Net Assets
$1,945,233
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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
MN
Principal Officer
Janelle Leiseth
Phone
7012617012
Tax Period
2024-01-01 to 2024-12-31

Moorhead Legacy Education Foundation, founded in 1990, is a small nonprofit in the Education sector that reported $368K in total revenue in fiscal year 2024. Revenue surged 51% from the prior year, signaling strong growth momentum. The organization ran a surplus of $96K, a strong 26% operating margin.

Mission

To support and promote educational programs in Independent School District 152.

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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 $218,645
Program Service Revenue $74,263
Investment Income $57,408
Other Revenue $17,661
TOTAL REVENUE $367,977

Expense Breakdown

Grants Paid $200,697
Salaries & Benefits $12,000
Fundraising Expenses $2,520
Program Expenses $204,836
Other Expenses $59,298
TOTAL EXPENSES $271,995

Year-over-Year Comparison

2024 2023 Change
Revenue $367,977 $243,444 +0.5%
Expenses $271,995 $226,758 +0.2%
Net Income $95,982 $16,686 +4.8%
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
12
Independent Members
12
Employees
N/A
Volunteers
30

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
$12,000
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Katherine Halvorson Board Chair 15.00
Officer Director
$0 $0 $0
Julie Wilson Board Vice Chair 7.50
Officer Director
$0 $0 $0
Mike McFeely Secretary 2.00
Officer Director
$0 $0 $0
Chad Hansen Treasurer 2.00
Officer Director
$0 $0 $0
Tina Christenson Board Member (as of June 2024) 4.00
Director
$0 $0 $0
Stephen Astrup Board Member 2.00
Director
$0 $0 $0
Monica Peterson Board Member (as of June 2024) 4.00
Director
$0 $0 $0
Charles Fisher Board Member 2.00
Director
$0 $0 $0
Brett Rathbone Board Member (as of June 2024) 2.00
Director
$0 $0 $0
Jana Kasper Board Member (as of June 2024) 2.00
Director
$0 $0 $0
Mark Rice Board Member 2.00
Director
$0 $0 $0
Angie Homuth Board Member 2.00
Director
$0 $0 $0
Janelle Leiseth Executive Director 20.00
Officer
$12,000 $0 $12,000
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 $367,977 $271,995 $1,977,869 $95,982
2023 $243,444 $226,758 $1,854,040 $16,686
2022 $184,691 $204,011 $1,505,126 $-19,320
2021 $202,920 $214,882 $1,875,759 $-11,962
2020 $176,952 $218,969 $1,698,560 $-42,017
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