TWIN CITIES HEART FOUNDATION (EIN 412016735) - 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

2007

Legal Domicile

Principal Officer

IRVIN F GOLDENBERG

Phone

6125816593

Tax Period

2024-01-01 to 2024-12-31

TWIN CITIES HEART FOUNDATION, founded in 2007, is a micro nonprofit in the Medical Research sector that reported $86K in total revenue in fiscal year 2024. Revenue fell 80% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $45K, a strong 52% operating margin.

Mission

TO SUPPORT AND CONDUCT CARDIAC RESEARCH

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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 $43,050

Program Service Revenue $0

Investment Income $43,214

Other Revenue $0

TOTAL REVENUE $86,264

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $15,685

Other Expenses $41,491

TOTAL EXPENSES $41,491

Year-over-Year Comparison

	2024	2023	Change
Revenue	$86,264	$436,336	-0.8%
Expenses	$41,491	$19,214	+1.2%
Net Income	$44,773	$417,122	-0.9%

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
IRVIN GOLDENBERG	PRESIDENT	20.00	Officer Director	$0	$0	$0
PAUL SEIFERT	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
RICK MARIAM	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
WES PEDERSEN	VICE PRESIDENT & DIRECTOR OF RESEARCH	1.00	Officer Director	$0	$0	$0
CONSTANCE CICHY	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
PAM SCHILLER	VICE PRESIDENT & SECRETARY	1.00	Officer Director	$0	$0	$0
TERRY L BAUMGARD	VICE PRESIDENT & TREASURER	1.00	Officer Director	$0	$0	$0
GARY SHANK	TREASURER	1.00	Officer 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	$86,264	$41,491	$970,419	$44,773
2023	$436,336	$19,214	$951,621	$417,122
2022	$35,668	$25,901	$767,921	$9,767
2021	$17,456	$59,966	$927,190	$-42,510
2020	$271,477	$28,619	$718,238	$242,858

TWIN CITIES HEART FOUNDATION