HIBBING COLLEGE 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

1958

Legal Domicile

Principal Officer

KIMBERLY THOMAS

Phone

2182936927

Tax Period

2024-07-01 to 2025-06-30

HIBBING COLLEGE FOUNDATION, founded in 1958, is a small nonprofit that reported $393K in total revenue in fiscal year 2024. Revenue surged 200% from the prior year, signaling strong growth momentum. The organization ran a surplus of $284K, a strong 72% operating margin.

Mission

PROVIDE ASSISTANCE TO MINNESOTA NORTH COLLEGE HIBBING

Program Service Accomplishments

Program 1

Expenses: $103,997 Revenue: $413,021

TO ASSIST IN THE ADVANCEMENT OF EDUCATION BY AWARDING SCHOLARSHIPS TO THE STUDENTS OF MINNESOTA NORTH COLLEGE HIBBING AND PROVIDE DIRECT ASSISTANCE TO THE COLLEGE

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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 $212,637

Program Service Revenue $0

Investment Income $165,532

Other Revenue $14,794

TOTAL REVENUE $392,963

Expense Breakdown

Grants Paid $85,325

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $103,997

Other Expenses $23,182

TOTAL EXPENSES $108,507

Year-over-Year Comparison

	2024	2023	Change
Revenue	$392,963	$131,127	+2.0%
Expenses	$108,507	$136,942	-0.2%
Net Income	$284,456	$-5,815	-49.9%

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
BRIAN SIMONSON	DIRECTOR	1.00	Director	$0	$0	$0
JIM SKALSKI	DIRECTOR	1.00	Director	$0	$0	$0
GREG HEYBLOM	DIRECTOR	1.00	Director	$0	$0	$0
CRAIG HATTAM	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD PUHEK	PRESIDENT	1.00	Officer Director	$0	$0	$0
DAVID JORDAN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
KIMBERLY THOMAS	TREASURER	1.00	Officer Director	$0	$0	$0
KELLI HORVATH	SECRETARY	1.00	Officer Director	$0	$0	$0
STEFANIE CARLSON	DIRECTOR	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
2025	$392,963	$108,507	$2,080,387	$284,456
2024	$131,127	$136,942	$1,779,379	$-5,815
2023	$92,891	$97,832	$1,670,957	$-4,941
2022	$193,368	$209,668	$1,434,990	$-16,300
2021	$312,364	$172,857	$1,737,208	$139,507
2020	$108,095	$145,953	$1,475,015	$-37,858
2018	$127,618	$86,404	$1,493,743	$41,214