MINNESOTA SECTION INSTITUTE OF FOOD TECH (EIN 416045207) - 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

1957

Legal Domicile

Phone

9525402271

Tax Period

2024-07-01 to 2025-06-30

MINNESOTA SECTION INSTITUTE OF FOOD TECH, founded in 1957, is a small nonprofit in the Food, Agriculture & Nutrition sector that reported $112K in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum. Expenses of $96K left a modest 14% surplus.

Mission

THE MINNESOTA SECTION OF THE INSTITUTE OF FOOD TECHNOLOGISTS (IFT) IS OPEN TO ANYONE WHO IS INTERESTED IN FOOD SCIENCE, FOOD TECHNOLOGY, AND THE FOOD INDUSTRY IN THIS GEOGRAPHICAL REGION. THE SECTION ALSO PROVIDES SUPPORT TO THE GREAT PLAINS SUBSECTION, WHICH INCLUDES MEMBERS LIVING IN EASTERN SOUTH DAKOTA AND SOUTHERN MINNESOTA. OUR CURRENT MEMBERSHIP IS APPROXIMATELY 597.ACTIVITIES INCLUDE: DINNER MEETINGS WITH GUEST SPEAKERS RELATED TO FOOD SCIENCE, PROVIDING ANNUAL SCHOLARSHIPS TO UNDERGRADUATE AND GRADUATE STUDENTS, AND FUNDRAISERS INCLUDING A SILENT AUCTION AND SUPPLIER'S EXPO.

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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 $6,680

Program Service Revenue $9,560

Investment Income $28,303

Other Revenue $66,979

TOTAL REVENUE $111,522

Expense Breakdown

Grants Paid $38,144

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $87,645

Other Expenses $57,411

TOTAL EXPENSES $95,555

Year-over-Year Comparison

	2024	2023	Change
Revenue	$111,522	$88,668	+0.3%
Expenses	$95,555	$88,097	+0.1%
Net Income	$15,967	$571	+27.0%

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

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
LINDSAY BUDIN	PRESIDENT	1.00	Officer Director	$0	$0	$0
MISEN LUU	PRESIDENT-ELECT	1.00	Officer Director	$0	$0	$0
HASMUKH PATEL	IMMEDIATE PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
CORINNE EGAN	TREASURER	1.00	Officer Director	$0	$0	$0
EMILY PETTERSON	ASSISTANT TREASURER	1.00	Officer Director	$0	$0	$0
GERRY BUESCHER	SECRETARY	1.00	Officer Director	$0	$0	$0
ARIANA FRANGOS	DIRECTOR AT LARGE	1.00	Director	$0	$0	$0
EMILY GRISBECK	DIRECTOR AT LARGE	1.00	Director	$0	$0	$0
TESS TIERNEY	DIRECTOR AT LARGE	1.00	Director	$0	$0	$0
DANA DRONEN	DIRECTOR AT LARGE	1.00	Director	$0	$0	$0
GEORGE ANNOR	DIRECTOR AT LARGE	1.00	Director	$0	$0	$0
TREVOR SANNES	DIRECTOR AT LARGE	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
2025	$111,522	$95,555	$939,040	$15,967
2024	$88,668	$88,097	$923,073	$571
2023	$129,517	$81,549	$922,502	$47,968
2022	$114,580	$60,890	$874,534	$53,690
2021	$63,514	$18,213	$820,844	$45,301
2020	$81,176	$72,570	$775,543	$8,606
2019	$133,470	$127,248	$766,938	$6,222

MINNESOTA SECTION INSTITUTE OF FOOD TECH