MINNESOTA GOLF ASSOCIATION FOUNDAT… - 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

Principal Officer

EDE RICE

Phone

9529274643

Tax Period

2023-01-01 to 2023-12-31

MINNESOTA GOLF ASSOCIATION FOUNDATION is a small nonprofit in the Education sector that reported $772K in total revenue in fiscal year 2023. Revenue surged 44% from the prior year, signaling strong growth momentum. The organization ran a surplus of $245K, a strong 32% operating margin.

Mission

TO PROVIDE GRANTS AND SCHOLARSHIPS TO YOUTH, HIGH SCHOOL AND COLLEGE GIRLS INVOLVED OR INTERESTED IN GOLF, AND TO PROVIDE ACCESSABILITY AND AFFORDABILITY TO YOUNG PEOPLE INTERESTED IN GOLF.

Program Service Accomplishments

Program 1

Expenses: $21,000

GRANTS AND SCHOLARSHIPS ARE AWARDED TO YOUTH, HIGH SCHOOL AND COLLEGE GIRLS INVOLVED OR INTERESTED IN GOLF.

Program 2

Expenses: $493,653

TO PROVIDE ACCESSABILITY AND AFFORDABILITY TO YOUTH GOLFERS.

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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 $771,965

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $771,965

Expense Breakdown

Grants Paid $21,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $514,653

Other Expenses $506,088

TOTAL EXPENSES $527,088

Year-over-Year Comparison

	2023	2022	Change
Revenue	$771,965	$534,691	+0.4%
Expenses	$527,088	$382,658	+0.4%
Net Income	$244,877	$152,033	+0.6%

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

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
ANNIE CRONIN	TRUSTEE	1.00	Director	$0	$0	$0
JOHN HALLBERG	TRUSTEE	1.00	Director	$0	$0	$0
MATT MAGERS	TRUSTEE	1.00	Director	$0	$0	$0
PAUL MEIERANT	SECRETARY/TR	1.00	Director	$0	$0	$0
ANNE COLEHOUR MULLEN	TRUSTEE	1.00	Director	$0	$0	$0
EDE RICE	PRESIDENT	1.00	Officer Director	$0	$0	$0
JEAN ROTTMAN	TRUSTEE	1.00	Director	$0	$0	$0
CAL SIMMONS	TRUSTEE	1.00	Director	$0	$0	$0
TOM SMITH	TRUSTEE	1.00	Director	$0	$0	$0
RICK SOSKIN	TRUSTEE	1.00	Director	$0	$0	$0
JIM TRENDA	TRUSTEE	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	$771,965	$527,088	$803,329	$244,877
2023	$863,581	$605,419	$816,614	$258,162
2022	$534,691	$382,658	$558,422	$152,033
2021	$584,788	$392,293	$406,389	$192,495
2020	$566,638	$441,240	$213,894	$125,398

MINNESOTA GOLF ASSOCIATION FOUNDATION