LOAN REPAYMENT ASSISTANCE PROGRAM … - 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

1991

Legal Domicile

Principal Officer

DEE BASKIN

Phone

6122786315

Tax Period

2023-01-01 to 2023-12-31

LOAN REPAYMENT ASSISTANCE PROGRAM OF MINNESOTA INC, founded in 1991, is a small nonprofit in the Education sector that reported $193K in total revenue in fiscal year 2023. Revenue grew 20% year-over-year, indicating healthy expansion. The organization ran a surplus of $34K, a strong 17% operating margin.

Mission

TO PROVIDE SUPPORT FOR LAWYERS WHO ARE IN PUBLIC SERVICE POSITIONS BY ASSISTING THEM IN REPAYING THEIR STUDENT LOANS. THE ORGANIZATION AWARDS LOAN REPAYMENT ASSISTANCE TO INDIVIDUALS EACH SPRING AND FALL.

Program Service Accomplishments

Program 1

Expenses: $115,705

LRAP MINNESOTA ENABLED 50 PUBLIC SERVICE ATTORNEYS TO HELP SOME 10,000 LOW-INCOME CLIENTS SECURE ESSENTIAL NEEDS LIKE FOOD, SHELTER, AND SAFETY.

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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 $185,084

Program Service Revenue $0

Investment Income $7,812

Other Revenue $0

TOTAL REVENUE $192,896

Expense Breakdown

Grants Paid $71,101

Salaries & Benefits $73,952

Fundraising Expenses $27,150

Program Expenses $115,705

Other Expenses $14,148

TOTAL EXPENSES $159,201

Year-over-Year Comparison

	2023	2022	Change
Revenue	$192,896	$160,943	+0.2%
Expenses	$159,201	$83,879	+0.9%
Net Income	$33,695	$77,064	-0.6%

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

$67,508

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREA DERBY WORKMAN	DIRECTOR	0.45	Director	$0	$0	$0
ANN GEMMELL	DIRECTOR	0.45	Director	$0	$0	$0
ANNA BEADLE	DIRECTOR	0.45	Director	$0	$0	$0
DANIEL BROWN	TREASURER	0.60	Director	$0	$0	$0
DEBRA SCHNEIDER	DIRECTOR	0.45	Director	$0	$0	$0
ELIZABETH FORS	DIRECTOR	0.45	Director	$0	$0	$0
ERIC BROWN	DIRECTOR	0.45	Director	$0	$0	$0
JAMES FORMAN	DIRECTOR	0.45	Director	$0	$0	$0
LAURETTE HANKOM	DIRECTOR	0.45	Director	$0	$0	$0
LISA HOLLINGSWORTH	DIRECTOR	0.45	Director	$0	$0	$0
PETER HENNIGAN	DIRECTOR	0.45	Director	$0	$0	$0
PETER KNAPP	DIRECTOR	0.45	Director	$0	$0	$0
PHILLIP HOLMES	DIRECTOR	0.45	Director	$0	$0	$0
VALERIE HERRING	PRESIDENT	0.60	Officer Director	$0	$0	$0
KRISTIN STOCK	DIRECTOR	0.45	Director	$0	$0	$0
DEE BASKIN	EXECUTIVE DIRECTOR	30.00	Officer	$67,508	$0	$67,508

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	$192,896	$159,201	$768,096	$33,695
2022	$160,943	$83,879	$707,073	$77,064
2021	$163,807	$84,868	$662,765	$78,939
2020	$148,450	$101,463	$579,109	$46,987
2019	$210,463	$195,018	$529,610	$15,445
2018	$201,813	$191,073	$497,505	$10,740

LOAN REPAYMENT ASSISTANCE PROGRAM OF MINNESOTA INC