MIDWEST BUSINESS FINANCE CORPORATION (EIN 411846655) - 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

1996

Legal Domicile

Principal Officer

NADENE KRUIZE

Phone

3202585000

Tax Period

2024-10-01 to 2025-09-30

MIDWEST BUSINESS FINANCE CORPORATION, founded in 1996, is a community nonprofit in the Community Improvement sector that reported $4.4M in total revenue in fiscal year 2024. The organization ran a surplus of $1.1M, a strong 25% operating margin.

Mission

TO PROMOTE SMALL BUSINESS & JOBS

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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 $0

Program Service Revenue $4,270,385

Investment Income $205,908

Other Revenue $-43,901

TOTAL REVENUE $4,432,392

Expense Breakdown

Grants Paid $88,639

Salaries & Benefits $2,334,326

Fundraising Expenses $0

Program Expenses $2,588,839

Other Expenses $914,247

TOTAL EXPENSES $3,337,212

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,432,392	$4,303,425	+0.0%
Expenses	$3,337,212	$3,545,186	-0.1%
Net Income	$1,095,180	$758,239	+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

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

$871,495

Total Directors

$25,800

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DUSTEN JOHNSON	BOARD MEMBER	1.00	Director	$4,800	$0	$4,800
MATTHEW DOROTHY	BOARD MEMBER	1.00	Director	$3,600	$0	$3,600
CHAD SYLTIE	BOARD MEMBER	1.00	Director	$3,600	$0	$3,600
MARK SCHIK	BOARD MEMBER	1.00	Director	$3,600	$0	$3,600
DAN NYGAARD	VICE CHAIR	1.00	Director	$3,900	$0	$3,900
NANCY HOFFMAN	BOARD MEMBER	1.00	Director	$3,600	$0	$3,600
JAMES VRCHOTA	BOARD MEMBER	1.00	Director	$2,700	$0	$2,700
JOSHUAA LAFFEN	VICE PRESIDENT BUSINESS DE	40.00	Officer	$137,108	$34,530	$171,638
JENNIFER FITZPATRICK	VICE PRESIDENT, LOAN PORTF	40.00	Officer	$120,591	$33,239	$153,830
CAROL ANDERSON	CHAIRMAN	1.00	Officer	$5,400	$0	$5,400
BOB PALMQUIST	TREASURER	1.00	Officer	$4,800	$0	$4,800
SARAH BORGMAN	CHIEF CREDIT OFFICER	40.00	Officer	$130,779	$26,730	$157,509
DALE UMLAUF	SECRETARY	1.00	Officer	$4,800	$0	$4,800
NADENE KRUIZE	PRESIDENT & CEO	40.00	Officer	$317,546	$49,672	$367,218
MAURICE DURHEIM	BOARD MEMBER	1.00	Officer	$6,300	$0	$6,300
JOSEPH KAMMERMEIER	VICE PRESIDENT BUSINESS DE	40.00	Highest	$174,797	$30,921	$205,718
TERRY STEIN	VICE PRESIDENT BUSINESS DE	40.00	Highest	$162,965	$38,945	$201,910
MICHAEL STEARNS	VICE PRESIDENT BUSINESS DE	40.00	Highest	$149,923	$43,197	$193,120

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	$4,432,392	$3,337,212	$8,029,828	$1,095,180
2024	$4,303,425	$3,545,186	$7,238,812	$758,239
2023	$4,245,343	$3,921,562	$6,667,308	$323,781
2022	$3,673,437	$3,536,673	$6,710,385	$136,764
2021	$3,041,380	$3,016,973	$4,905,481	$24,407
2020	$2,943,295	$2,737,613	$4,318,975	$205,682
2019	$2,826,328	$2,673,673	$4,165,762	$152,655
2018	$2,577,392	$2,556,590	$4,069,597	$20,802

MIDWEST BUSINESS FINANCE CORPORATION