HEARTH CONNECTION (EIN 411945956) - 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

1999

Legal Domicile

Principal Officer

MARCUS SCHMIT

Phone

6516450676

Tax Period

2023-01-01 to 2023-12-31

HEARTH CONNECTION, founded in 1999, is a mid-sized nonprofit in the Housing & Shelter sector that reported $12.8M in total revenue in fiscal year 2023.

Mission

LEADING EFFORTS TO ASSIST MINNESOTANS EXPERIENCING HOMELESSNESS AND HOUSING INSTABILITY

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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 $11,118,328

Program Service Revenue $1,676,075

Investment Income $2,346

Other Revenue $7,369

TOTAL REVENUE $12,804,118

Expense Breakdown

Grants Paid $10,886,384

Salaries & Benefits $1,477,160

Fundraising Expenses $2,186

Program Expenses $12,550,144

Other Expenses $436,848

TOTAL EXPENSES $12,800,392

Year-over-Year Comparison

	2023	2022	Change
Revenue	$12,804,118	$13,144,302	0.0%
Expenses	$12,800,392	$13,700,110	-0.1%
Net Income	$3,726	$-555,808	-1.0%

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

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

$254,353

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SAM SMITH	CHAIR	1.00	Officer Director	$0	$0	$0
JULIE GROTHE	VICE CHAIR	1.00	Officer Director	$0	$0	$0
STACY WELLS	SECRETARY	1.00	Officer Director	$0	$0	$0
RYAN ROBINSON	TREASURER	1.00	Officer Director	$0	$0	$0
ED ARIAS	BOARD MEMBER	1.00	Director	$0	$0	$0
KELLI JOHNSON	BOARD MEMBER	1.00	Director	$0	$0	$0
RICK KAHN	BOARD MEMBER	1.00	Director	$0	$0	$0
MEREDITH VADIS	BOARD MEMBER	1.00	Director	$0	$0	$0
ANGELA WILHIGHT	BOARD MEMBER	1.00	Director	$0	$0	$0
MARIE ZIMMERMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
MARCUS SCHMIT	EXECUTIVE DIRECTOR	40.00	Officer	$139,211	$21,731	$160,942
WINDA ROETS	DIRECTOR OF FINANCE	40.00	Officer	$82,410	$11,001	$93,411
ERIC HANDS	DIRECTOR OF SOFTWARE DEVELOPMENT	40.00	Highest	$102,133	$13,589	$115,722
KRISTINE DAVIS	DEPUTY EXECUTIVE DIRECTOR	40.00	Highest	$100,545	$4,501	$105,046

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	$12,804,118	$12,800,392	$1,251,935	$3,726
2022	$13,144,302	$13,700,110	$2,575,145	$-555,808
2021	$14,314,767	$14,152,424	$2,283,440	$162,343
2020	$13,820,616	$13,939,533	$3,522,034	$-118,917
2019	$13,754,289	$13,615,385	$2,435,658	$138,904
2018	$11,939,961	$11,898,354	$2,378,617	$41,607

HEARTH CONNECTION