MINNESOTA ASSOCIATION OF WORKFORCE BOARDS (EIN 411778499) - Form 990 Financial Analysis & Trantor Score

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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.

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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