TEXTILE CENTER OF MINNESOTA (EIN 411790700) - 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

KARL REICHERT

Phone

6124360464

Tax Period

2024-04-01 to 2025-03-31

TEXTILE CENTER OF MINNESOTA, founded in 1994, is a community nonprofit in the Education sector that reported $1.1M in total revenue in fiscal year 2024. Revenue decreased 14% compared to the prior year. Expenses of $1.4M exceeded revenue, resulting in a 28% operating deficit.

Mission

TEXTILE CENTER'S MISSION IS TO HONOR TEXTILE TRADITIONS, PROMOTE EXCELLENCE AND INNOVATION, NUTURE APPRECIATION, AND INSPIRE WIDESPREAD PARTICIPATION IN FIBER ART.

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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 $583,238

Program Service Revenue $316,595

Investment Income $36,330

Other Revenue $175,794

TOTAL REVENUE $1,111,957

Expense Breakdown

Grants Paid $50,000

Salaries & Benefits $840,780

Fundraising Expenses $97,801

Program Expenses $1,073,290

Other Expenses $530,547

TOTAL EXPENSES $1,421,327

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,111,957	$1,287,390	-0.1%
Expenses	$1,421,327	$1,264,339	+0.1%
Net Income	$-309,370	$23,051	-14.4%

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

$121,248

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KARL REICHERT	EXECUTIVE DIRECTOR	40.00	Officer	$108,327	$12,921	$121,248
JEFFREY J WHITE	PRESIDENT	2.00	Officer Director	$0	$0	$0
LORRI TALBERG	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
CYNDI KAYE MEIER	TREASURER	2.00	Officer Director	$0	$0	$0
ABIGAIL KOSBERG	SECRETARY THROUGH JANUARY	2.00	Officer Director	$0	$0	$0
ROBERTA JONES	BOARD MEMBER/SECRETARY BEG' JANUARY	2.00	Officer Director	$0	$0	$0
ALFREDO CHICLANA-BIRCH	BOARD MEMBER	2.00	Director	$0	$0	$0
CAROL GRIM	BOARD MEMBER	2.00	Director	$0	$0	$0
SARAH E HANSON	BOARD MEMBER	2.00	Director	$0	$0	$0
PAMELA JOHNS	BOARD MEMBER	2.00	Director	$0	$0	$0
ROSANNE NATHANSON	BOARD MEMBER	2.00	Director	$0	$0	$0
CHIAKI O'BRIEN	BOARD MEMBER	2.00	Director	$0	$0	$0
MARY ANN SCHMIDT	BOARD MEMBER	2.00	Director	$0	$0	$0
MELAURA SCHMIDT DUNCAN	BOARD MEMBER	2.00	Director	$0	$0	$0
KAREN WEIBERG	BOARD MEMBER	2.00	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	$1,111,957	$1,421,327	$2,246,624	$-309,370
2024	$1,287,390	$1,264,339	$2,507,037	$23,051
2023	$1,166,686	$1,050,220	$2,444,518	$116,466
2022	$1,065,297	$995,367	$2,349,058	$69,930
2021	$802,435	$906,502	$2,483,413	$-104,067
2020	$1,291,977	$1,113,485	$2,302,928	$178,492
2019	$1,007,760	$971,483	$2,175,920	$36,277

TEXTILE CENTER OF MINNESOTA