NORWEGIAN-AMERICAN HISTORICAL ASSOC (EIN 416038548) - 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

1925

Legal Domicile

Principal Officer

KYLE JANSSON

Phone

5077863221

Tax Period

2024-01-01 to 2024-12-31

NORWEGIAN-AMERICAN HISTORICAL ASSOC, founded in 1925, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 116% from the prior year, signaling strong growth momentum. The organization ran a surplus of $811K, a strong 64% operating margin.

Mission

THE MISSION OF THE NORWEGIAN-AMERICAN HISTORICAL ASSOCIATION (NAHA) IS TO INSPIRE CONNECTIONS TO NORWEGIAN-AMERICAN EXPERIENCES THROUGH DISCOVERY, SCHOLARSHIP, AND STEWARDSHIP. TO ACHIEVE THIS GOAL, WE MAINTAIN AN ACTIVE ACQUISITIONS PROGRAM FOCUSING ON MATERIALS RELATED TO NORWEGIAN-AMERICAN IMMIGRATION, IMMIGRANTS AND THEIR DESCENDANTS. IN ADDITION TO MAINTAINING THE LARGEST ARCHIVE OF NORWEGIAN-AMERICAN LIFE, WE MAINTAIN AN ACTIVE PUBLICATIONS PROGRAM TO ENCOURAGE SCHOLARSHIP AND HOLD REGULAR EVENTS FOR OUR MEMBERS AND THE PUBLIC.

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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 $440,906

Program Service Revenue $10,817

Investment Income $805,739

Other Revenue $742

TOTAL REVENUE $1,258,204

Expense Breakdown

Grants Paid $4,500

Salaries & Benefits $325,491

Fundraising Expenses $0

Program Expenses $283,880

Other Expenses $117,277

TOTAL EXPENSES $447,268

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,258,204	$581,731	+1.2%
Expenses	$447,268	$280,250	+0.6%
Net Income	$810,936	$301,481	+1.7%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KRISTIN ANDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
ANNETTE ATKINS	BOARD MEMBER	1.00	Director	$0	$0	$0
KRISTIN DEKUIPER	BOARD MEMBER	1.00	Director	$0	$0	$0
KARI LIE DORER	BOARD MEMBER	1.00	Director	$0	$0	$0
ESSAM ELKORGHLI	BOARD MEMBER	1.00	Director	$0	$0	$0
JASON ENGBRECHT	BOARD MEMBER	1.00	Director	$0	$0	$0
GRACIA GRINDAL	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID HAKENSEN	BOARD MEMBER	1.00	Director	$0	$0	$0
ARNSTEIN HJELDE	BOARD MEMBER	1.00	Director	$0	$0	$0
TIM HOKANSON	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES HONSVALL	BOARD MEMBER	1.00	Director	$0	$0	$0
KYLE JANSSON	PRESIDENT	4.00	Officer Director	$0	$0	$0
JEFFREY KINDSETH	BOARD MEMBER	1.00	Director	$0	$0	$0
ANN MARIE LEGREID	BOARD MEMBER	1.00	Director	$0	$0	$0
TERJE LEIREN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN NILSON	TREASURER	2.00	Officer Director	$0	$0	$0
SCOTT RICHARDSON	SECRETARY	1.00	Officer Director	$0	$0	$0
DAN RILEY	BOARD MEMBER	1.00	Director	$0	$0	$0
PAUL ROLVAAG	BOARD MEMBER	1.00	Director	$0	$0	$0
ANNA RUE	BOARD MEMBER	1.00	Director	$0	$0	$0
CAITLIN SACKRISON	BOARD MEMBER	1.00	Director	$0	$0	$0
VICKI TOBIAS	BOARD MEMBER	1.00	Director	$0	$0	$0
INGRID URBERG	AT-LARGE MEM	1.00	Officer Director	$0	$0	$0
KRISTEN WALSETH	VICE PRESIDE	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	$1,258,204	$393,716	$4,810,971	$864,488
2024	$1,258,204	$447,268	$4,811,664	$810,936
2023	$581,731	$280,250	$4,196,056	$301,481
2022	$371,031	$394,052	$3,617,487	$-23,021
2021	$519,355	$298,074	$4,271,382	$221,281
2020	$411,165	$467,885	$3,843,346	$-56,720
2019	$224,376	$160,575	$3,676,967	$63,801
2018	$263,539	$127,057	$3,251,209	$136,482

NORWEGIAN-AMERICAN HISTORICAL ASSOC