ELDER NETWORK

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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

1988

Legal Domicile

Principal Officer

KATHY SCHEID

Phone

5072855272

Tax Period

2024-01-01 to 2024-12-31

ELDER NETWORK, founded in 1988, is a small nonprofit in the Health Care sector that reported $958K in total revenue in fiscal year 2024. Revenue surged 20% from the prior year, signaling strong growth momentum. Expenses of $820K left a modest 14% surplus.

Mission

THOSE 55 AND BETTER AND THEIR CAREGIVERS HAVE THE OPPORTUNITY TO THRIVE AND LEAD REWARDING LIVES.

Program Service Accomplishments

Program 1

Expenses: $626,174 Revenue: $343,408

WITH THE SUPPORT OF STAFF, VOLUNTEERS AND DONORS, ELDER NETWORK PROVIDES DIRECT CLIENT SERVICES SUCH AS SENIOR ADVOCACY, COMPANION SERVICES, FRIENDLY VISITOR, NON-MEDICAL TRANSPORTATION, MEDICAL...

WITH THE SUPPORT OF STAFF, VOLUNTEERS AND DONORS, ELDER NETWORK PROVIDES DIRECT CLIENT SERVICES SUCH AS SENIOR ADVOCACY, COMPANION SERVICES, FRIENDLY VISITOR, NON-MEDICAL TRANSPORTATION, MEDICAL TRANSPORTATION, CAREGIVER RESPITE, CAREGIVER CONSULTING, SUPPORT GROUPS, EDUCATION, PEARLS, TECHNOLOGY ASSISTANCE PROGRAM, GROUP RESPITE, AND OTHERS. ELDER NETWORK PROVIDED SERVICES IN DODGE, OLMSTED, WABASHA, AND WINONA COUNTIES IN 2024. ELDER NETWORK STAFF AND VOLUNTEERS PROVIDED OVER 29,616 HOURS OF DIRECT CARE TO OVER 4,200 OLDER ADULT & CAREGIVER PARTICIPANTS. SENIOR ADVOCATES HELPED OVER 630 INDIVIDUALS WITH 3,407 CONTACTS FOR HOUSING ASSISTANCE, MEDICARE ASSISTANCE, AND NUMEROUS OTHER PROGRAMS AND SERVICES TO THOSE OLDER ADULTS AND CAREGIVERS IN NEED OF ADVOCACY. CAREGIVERS RECEIVED OVER 12,582 HOURS OF DIRECT RESPITE THROUGHOUT 2024. STAFF SCHEDULED 2,588 RIDES, AND VOLUNTEERS PROVIDED OVER 2,065 RIDES TO MEDICAL AND NON-MEDICAL APPOINTMENTS IN OLMSTED COUNTY. ELDER NETWORK HAS HELPED OLDER ADULTS AND THOSE WHO CARE FOR THEM TO MAINTAIN THEIR HEALTH AND INDEPENDENCE-HELPING THEM HAVE THE OPPORTUNITY TO THRIVE AND LEAD REWARDING LIVES.

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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 $613,869

Program Service Revenue $343,408

Investment Income $5,077

Other Revenue $-4,337

TOTAL REVENUE $958,017

Expense Breakdown

Grants Paid $0

Salaries & Benefits $621,251

Fundraising Expenses $36,644

Program Expenses $626,174

Other Expenses $199,011

TOTAL EXPENSES $820,262

Year-over-Year Comparison

	2024	2023	Change
Revenue	$958,017	$797,579	+0.2%
Expenses	$820,262	$698,500	+0.2%
Net Income	$137,755	$99,079	+0.4%

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

200

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

$68,271

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHY SCHEID	EXECUTIVE DI	40.00	Officer	$68,271	$0	$68,271
MICHAEL ROGERS	PRESIDENT	2.00	Officer Director	$0	$0	$0
TIFFANY OLSON	VICE PRESIDE	10.00	Officer Director	$0	$0	$0
TYLER BROBERG	TREASURER	1.00	Officer Director	$0	$0	$0
THERESE WHITE	SECRETARY	2.00	Officer Director	$0	$0	$0
RIBU GOYAL	DIRECTOR	0.50	Director	$0	$0	$0
KELLY SHIRLEY	DIRECTOR	0.50	Director	$0	$0	$0
HEIDI WIGHTMAN	DIRECTOR	0.50	Director	$0	$0	$0
ADEDAYO DOSUMU	DIRECTOR	0.50	Director	$0	$0	$0
TAMMY HARNACK	DIRECTOR	0.50	Director	$0	$0	$0
JOHN ANDERSON	DIRECTOR	0.00	Director	$0	$0	$0
LAURIE MANGEN	DIRECTOR	1.00	Director	$0	$0	$0
CLARA STITT	DIRECTOR	0.50	Director	$0	$0	$0
MARY DOUCETTE	HONARARY MEM	0.00	Director	$0	$0	$0
TRICIA SCHILLING	HONORARY MEM	0.00	Director	$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	No data	No data	No data	No data
2024	$958,017	$820,262	$650,999	$137,755
2023	$797,579	$698,500	$349,670	$99,079
2022	$713,481	$640,498	$223,744	$72,983
2021	$547,772	$573,092	$136,299	$-25,320
2020	$595,996	$511,743	$152,585	$84,253
2019	$546,906	$540,152	$69,988	$6,754