NAEVE HEALTH CARE FOUNDATION

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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

2000

Legal Domicile

Principal Officer

CORRINE TIMS

Phone

5074341595

Tax Period

2024-01-01 to 2024-12-31

NAEVE HEALTH CARE FOUNDATION, founded in 2000, is a small nonprofit in the Health Care sector that reported $530K in total revenue in fiscal year 2024. Revenue surged 75% from the prior year, signaling strong growth momentum. The organization ran a surplus of $302K, a strong 57% operating margin.

Mission

TO ENSURE THE FUTURE OF LOCAL, QUALITY HEALTH CARE THROUGH THE CONTINUED DEVELOPMENT OF A PERMANENT ENDOWMENT FUND AND OTHER PHILANTHROPIC RELATIONSHIPS AND ACTIVITIES AS MAY BE DEEMED APPROPRIATE FOR THE GROWTH AND DEVELOPMENT OF MCHS IN ALBERT LEA AND SURROUNDING COMMUNITIES.

Program Service Accomplishments

Program 1

Expenses: $182,400 Revenue: $0

NAEVE HEALTH CARE FOUNDATION SUPPORTS PROJECTS WITHIN MAYO CLINIC HEALTH SYSTEM IN ALBERT LEA.

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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 $168

Program Service Revenue $0

Investment Income $529,855

Other Revenue $0

TOTAL REVENUE $530,023

Expense Breakdown

Grants Paid $182,400

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $182,400

Other Expenses $45,973

TOTAL EXPENSES $228,373

Year-over-Year Comparison

	2024	2023	Change
Revenue	$530,023	$303,677	+0.7%
Expenses	$228,373	$298,275	-0.2%
Net Income	$301,650	$5,402	+54.8%

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

$998,450

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DANIEL KOLKER	PRESIDENT	12.00	Officer Director	$0	$0	$0
CORRINE TIMS	VICE CHAIR	6.00	Officer Director	$0	$0	$0
DIANE CLARK	SECRETARY	10.00	Officer Director	$0	$0	$0
SHANNON STEENSMA	TREASURER	10.00	Officer Director	$0	$0	$0
DIANE DAMEROW	TRUSTEE	6.00	Director	$0	$0	$0
DIANE WICHMANN	TRUSTEE	6.00	Director	$0	$0	$0
GARY SCHINDLER	TRUSTEE	6.00	Director	$0	$0	$0
KAREN CONN	TRUSTEE	6.00	Director	$0	$0	$0
NICK SCHILTZ	TRUSTEE	6.00	Director	$0	$0	$0
MATTHEW GREIBROK	TRUSTEE	6.00	Director	$0	$0	$0
DR TIMOTHY KOZELSKEY	TRUSTEE	6.00	Director	$0	$0	$0
DR HEIDI GASTON	TRUSTEE	6.00	Director	$0	$52,682	$567,798
DR SUMIT BHAGRA	EX-OFFICIO OFFICER	10.00	Director	$0	$42,625	$430,652

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	$530,023	$228,373	$5,367,734	$301,650
2023	$303,677	$298,275	$5,053,753	$5,402
2022	$138,101	$277,267	$4,688,945	$-139,166
2021	$356,553	$271,083	$5,959,953	$85,470
2020	$273,835	$477,688	$5,347,686	$-203,853
2019	$240,693	$38,097	$5,345,864	$202,596
2018	$216,498	$257,207	$4,502,612	$-40,709