DULUTH LIBRARY FOUNDATION

EIN: 411696460 501(c)(3) Education

DULUTH, MN

Total Revenue
$619,365
Total Expenses
$280,549
Total Assets
$2,535,522
Net Assets
$2,529,602
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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
ERIN KREEGER
Phone
2187304262
Tax Period
2024-01-01 to 2024-12-31

DULUTH LIBRARY FOUNDATION, founded in 1990, is a small nonprofit in the Education sector that reported $619K in total revenue in fiscal year 2024. Revenue surged 84% from the prior year, signaling strong growth momentum. The organization ran a surplus of $339K, a strong 55% operating margin.

Mission

TO ENHANCE THE WORK OF THE DULUTH PUBLIC LIBRARY AND SUSTAIN A STRONG LIBRARY SYSTEM.

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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 $270,400
Program Service Revenue $0
Investment Income $349,605
Other Revenue $-640
TOTAL REVENUE $619,365

Expense Breakdown

Grants Paid $88,472
Salaries & Benefits $123,093
Fundraising Expenses $26,502
Program Expenses $163,895
Other Expenses $68,984
TOTAL EXPENSES $280,549

Year-over-Year Comparison

2024 2023 Change
Revenue $619,365 $337,252 +0.8%
Expenses $280,549 $452,938 -0.4%
Net Income $338,816 $-115,686 -3.9%
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
15
Independent Members
15
Employees
6
Volunteers
40

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
$77,692
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MATT ROSENDAHL PRESIDENT 1.50
Officer Director
$0 $0 $0
JENNIFER BERGES VICE PRESIDENT 1.50
Officer Director
$0 $0 $0
DOUGLAS BREMER TREASURER 0.50
Officer Director
$0 $0 $0
DAVID MOELLER PAST PRESDIENT 0.50
Officer Director
$0 $0 $0
AZRIN AWAL DIRECTOR 5.00
Director
$0 $0 $0
CRAIG CHILCOTE DIRECTOR 0.50
Director
$0 $0 $0
LEAH FISHER DIRECTOR 0.50
Director
$0 $0 $0
GREG FOX DIRECTOR 0.50
Director
$0 $0 $0
SUSAN GOLTZ DIRECTOR 0.50
Director
$0 $0 $0
INGRID JOHNSON DIRECTOR 0.50
Director
$0 $0 $0
SHERRY HALL DIRECTOR (THRU 03/24) 1.00
Director
$0 $0 $0
ANDREW KEENAN DIRECTOR 0.50
Director
$0 $0 $0
JOHN MAGAS DIRECTOR 0.50
Director
$0 $0 $0
COLE MAKI DIRECTOR 0.50
Director
$0 $0 $0
THERESA O'GARA DIRECTOR 0.80
Director
$0 $0 $0
CARLA POWERS MEMBER EX OFFICO 1.00
Director
$0 $0 $0
ERIN KREEGER EXECUTIVE DIRECTOR 40.00
Officer
$77,692 $0 $77,692
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 $619,365 $280,549 $2,535,522 $338,816
2023 $337,252 $452,938 $1,914,280 $-115,686
2022 $417,028 $304,000 $2,033,164 $113,028
2021 $685,085 $340,076 $1,948,980 $345,009
2020 $391,571 $242,960 $1,603,086 $148,611
2019 $410,721 $215,200 $1,482,974 $195,521
2018 $245,292 $174,953 $1,368,783 $70,339
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