MINNESOTA ASSOCIATION OF WORKFORCE… - 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

1994

Legal Domicile

Principal Officer

JEANNA FORTNEY

Phone

6517894323

Tax Period

2023-01-01 to 2023-12-31

MINNESOTA ASSOCIATION OF WORKFORCE BOARDS, founded in 1994, is a small nonprofit in the Employment sector that reported $212K in total revenue in fiscal year 2023. The organization ran a surplus of $37K, a strong 17% operating margin.

Mission

IT IS THE MISSION OF THE MINNESOTA ASSOCIATION OF WORKFORCE BOARDS (MAWB) TO PROVIDE MINNESOTA WITH A SKILLED AND COMPETITIVE WORKFORCE THROUGH ENGAGED AND PROACTIVE LOCAL ELECTED OFFICIALS, WORKFORCE DEVELOPMENT BOARDS, AND STAFF.

Program Service Accomplishments

Program 1

Expenses: $159,931 Revenue: $21,528

REGIONAL PLANNING. THE PURPOSE OF THESE FUNDS IS TO HELP EACH OF THE SIXTEEN WORKFORCE DEVELOPMENT BOARDS/SIX WORKFORCE DEVELOPMENT REGIONS IN IMPLEMENTING VARIOUS ASPECTS OF THE FEDERAL WORKFORCE...

REGIONAL PLANNING. THE PURPOSE OF THESE FUNDS IS TO HELP EACH OF THE SIXTEEN WORKFORCE DEVELOPMENT BOARDS/SIX WORKFORCE DEVELOPMENT REGIONS IN IMPLEMENTING VARIOUS ASPECTS OF THE FEDERAL WORKFORCE INNOVATION AND OPPORTUNITY ACT (WIOA) PROGRAMS. FUNDING SUPPORTED COMMUNITY ENGAGEMENT, TECHNICAL ASSISTANCE, AND RESOURCES TO IMPLEMENT SECTOR STRATEGIES AND EQUITY INITIATIVES; ALL WITH THE GOAL OF ENSURING THAT MINNESOTA'S EMPLOYERS HAVE WORKERS AND JOB SEEKERS HAVE THE SKILLS NEEDED BY EMPLOYERS.

Program 2

CLASP. THE CENTER FOR LAW AND SOCIAL POLICY (CLASP) HAS DEVELOPED A SET OF RECOMMENDATIONS FOR MN DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT (DEED) LEADERSHIP ON STATE AGENCY ACTIONS THAT CAN HELP ADVANCE EQUITY OF ACCESS AND OUTCOMES FOR MINNESOTANS THAT HAVE BEEN DISPARATELY IMPACTED IN THEIR ATTAINMENT OF SKILLS AND QUALITY EMPLOYMENT. THESE ACTIONS WILL HELP MINNESOTA IMPLEMENT ITS WORKFORCE INNOVATIONS AND OPPORTUNITY ACT (WIOA) PLAN GOAL TO REDUCE THE RACIAL DISPARITIES IN EDUCATION AND EMPLOYMENT TO PROVIDE GREATER OPPORTUNITY FOR ALL MINNESOTANS.

Program 3

MINNESOTA ASSOCIATION OF WORKFORCE BOARDS SERVICES. THESE FUNDS WERE USED TO CONTRACT FOR SERVICES THAT INCREASE COLLABORATION BETWEEN WORKFORCE SYSTEM PARTNERS INCLUDING LOCAL SERVICE PROVIDERS...

MINNESOTA ASSOCIATION OF WORKFORCE BOARDS SERVICES. THESE FUNDS WERE USED TO CONTRACT FOR SERVICES THAT INCREASE COLLABORATION BETWEEN WORKFORCE SYSTEM PARTNERS INCLUDING LOCAL SERVICE PROVIDERS, LOCAL WORKFORCE BOARDS, THE STATE WORKFORCE BOARDS AND STATE AGENCIES INCLUDING THE DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT AND THE DEPARTMENT OF EDUCATION. ACTIVITIES INCLUDED TRAINING ON NEW FEDERAL LAWS, RESEARCH ON BEST PRACTICES, STRATEGIC PLANNING ON STATEWIDE VISION AND SUPPORT REGIONAL COLLABORATION.

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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 $190,257

Program Service Revenue $21,528

Investment Income $0

Other Revenue $0

TOTAL REVENUE $211,785

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $159,931

Other Expenses $174,912

TOTAL EXPENSES $174,912

Year-over-Year Comparison

	2023	2022	Change
Revenue	$211,785	$203,304	+0.0%
Expenses	$174,912	$170,097	+0.0%
Net Income	$36,873	$33,207	+0.1%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEANNA FORTNEY	DIRECTOR	30.00	Officer Director	$0	$0	$0
SCOTT SCHULTE	CHAIR	2.00	Officer Director	$0	$0	$0
NICOLE MATTSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
CAROL ANDERSON	AT-LARGE	1.00	Director	$0	$0	$0
DEB BAHR-HELGEN	LEGISLATIVE COMMITTEE CHAI	1.00	Officer Director	$0	$0	$0
TAMMY BIERY	TREASURER	1.00	Officer Director	$0	$0	$0
JINNY RIETMANN	LEGISLATIVE COMMITTEE CHAI	1.00	Officer Director	$0	$0	$0
ELENA FOSHAY	OPERATIONS COMMITTEE CHAIR	1.00	Officer Director	$0	$0	$0
MITCH LENTZ	AT-LARGE	1.00	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
2024	No data	No data	No data	No data
2023	$211,785	$174,912	$299,353	$36,873
2022	$203,304	$170,097	$242,528	$33,207
2021	$187,155	$141,762	$229,428	$45,393
2020	$640,935	$502,615	$165,333	$138,320

MINNESOTA ASSOCIATION OF WORKFORCE BOARDS