VEAP Inc

EIN: 416175999 501(c)(3)

Bloomington, MN

Total Revenue
$14,594,986
Total Expenses
$14,965,133
Total Assets
$7,667,279
Net Assets
$4,123,357
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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
1973
Legal Domicile
MN
Principal Officer
Kari Thompson
Phone
9529558311
Tax Period
2024-01-01 to 2024-12-31

VEAP Inc, founded in 1973, is a mid-sized nonprofit that reported $14.6M in total revenue in fiscal year 2024.

Mission

Together, we create pathways to stronger, more hopeful, communities through access to healthy food, housing stability and supportive services.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $14,124,325
Program Service Revenue $75,214
Investment Income $86,578
Other Revenue $308,869
TOTAL REVENUE $14,594,986

Expense Breakdown

Grants Paid $11,350,560
Salaries & Benefits $2,231,180
Fundraising Expenses $514,524
Program Expenses $13,754,741
Other Expenses $1,383,393
TOTAL EXPENSES $14,965,133

Year-over-Year Comparison

2024 2023 Change
Revenue $14,594,986 $14,609,967 0.0%
Expenses $14,965,133 $14,448,577 +0.0%
Net Income $-370,147 $161,390 -3.3%
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

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Governance

Voting Members
22
Independent Members
22
Employees
33
Volunteers
1119

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
7
$208,676
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Kari Thompson CEO 40.00
Officer
$187,422 $21,254 $208,676
Ross Widmoyer President 5.00
Officer Director
$0 $0 $0
Dion Evans Vice President 1.50
Officer Director
$0 $0 $0
Joe Bauer Treasurer 3.00
Officer Director
$0 $0 $0
Molly McCormick Co-Secretary 2.50
Officer Director
$0 $0 $0
Shannon McCormick Co-Secretary 2.50
Officer Director
$0 $0 $0
Brianna Williamson Co-Secretary 2.50
Officer Director
$0 $0 $0
Margaret Brandt Member 1.00
Director
$0 $0 $0
Katie Burns Member 1.00
Director
$0 $0 $0
Anne Clarrissimeaux Member 1.00
Director
$0 $0 $0
Jim DeBuse Member 1.00
Director
$0 $0 $0
Josh Gerber Member 1.00
Director
$0 $0 $0
Tai Giwa Member 1.00
Director
$0 $0 $0
Sara Hong Member 1.00
Director
$0 $0 $0
Rebecca Johnson Member 1.00
Director
$0 $0 $0
Shawn Nelson Member 1.00
Director
$0 $0 $0
Laura Perrault Member 1.00
Director
$0 $0 $0
Jeff Rodgers Member 1.00
Director
$0 $0 $0
Megan Rogers Member 1.00
Director
$0 $0 $0
Corinne Shepherd Member 1.00
Director
$0 $0 $0
Jennifer Siedow Member 1.00
Director
$0 $0 $0
Michelle Swanson Member 1.00
Director
$0 $0 $0
Chris Westergaard Member 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
2024 $14,594,986 $14,965,133 $7,667,279 $-370,147
2023 $14,609,967 $14,448,577 $8,006,329 $161,390
2022 $16,186,207 $16,223,392 $7,922,083 $-37,185
2021 $16,891,199 $17,105,053 $8,119,973 $-213,854
2020 $17,321,534 $15,142,965 $8,523,564 $2,178,569
2019 $11,315,176 $10,748,149 $6,379,309 $567,027
2018 $9,379,602 $9,397,411 $5,911,455 $-17,809
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