VESTERHEIM NORWEGIAN-AMERICAN MUSEUM (EIN 426081638) - 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

1965

Legal Domicile

Principal Officer

CHRIS JOHNSON

Phone

5633829681

Tax Period

2024-01-01 to 2024-12-31

VESTERHEIM NORWEGIAN-AMERICAN MUSEUM, founded in 1965, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.7M in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $4.3M left a modest 7% surplus.

Mission

BUILDING COMMUNITY AND CREATING EXPERIENCES INSPIRED BY NORWEGIAN-AMERICAN STORIES AND FOLK ART. THE MUSEUM IS A NATIONAL TREASURE THAT EXPLORES THE DIVERSITY OF AMERICAN IMMIGRATION THROUGH THE LENS OF NORWEGIAN-AMERICAN EXPERIENCE, SHOWCASES THE BEST IN HISTORIC AND CONTEMPORARY NORWEGIAN FOLK AND FINE ARTS, AND PRESERVES LIVING TRADITIONS THROUGH CLASSES IN NORWEGIAN CULTURE AND FOLK ART, INCLUDING ROSEMALING (DECORATIVE PAINTING), WOODWORKING, KNIFEMAKING, METALWORKING, TRADITIONAL FOOD WAYS, AND TEXTILE ARTS.

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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 $2,345,098

Program Service Revenue $977,586

Investment Income $1,102,169

Other Revenue $253,182

TOTAL REVENUE $4,678,035

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,951,379

Fundraising Expenses $636,725

Program Expenses $2,427,111

Other Expenses $2,393,214

TOTAL EXPENSES $4,344,593

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,678,035	$5,032,867	-0.1%
Expenses	$4,344,593	$3,841,101	+0.1%
Net Income	$333,442	$1,191,766	-0.7%

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

312

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

$256,369

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RUDE BRIAN	CHAIR	1.00	Officer Director	$0	$0	$0
TRYGSTAD CRAIG	VICE CHAIR	1.00	Officer Director	$0	$0	$0
PLATOU LIZ	SECRETARY	1.00	Officer Director	$0	$0	$0
ALSAKER DAN	TRUSTEE	1.00	Director	$0	$0	$0
BARNETT	KATHERINE	1.00	Director	$0	$0	$0
BIRKLAND CAROL	TRUSTEE	1.00	Director	$0	$0	$0
BOMAN GREG	TRUSTEE	1.00	Director	$0	$0	$0
DAHL JANSEN	TRUSTEE	1.00	Director	$0	$0	$0
ERDMAN LINDSAY	TRUSTEE	1.00	Director	$0	$0	$0
ESPINOSA KARI	TRUSTEE	1.00	Director	$0	$0	$0
FRETHEIM DANIEL	TRUSTEE	1.00	Director	$0	$0	$0
HANSON LOUISE	TRUSTEE	1.00	Director	$0	$0	$0
HOVDEN CHARIS	TRUSTEE	1.00	Director	$0	$0	$0
JOHNSON MAREN	TRUSTEE	1.00	Director	$0	$0	$0
KEMP JANE	TRUSTEE	1.00	Director	$0	$0	$0
KVENVOLD GAYLE	TRUSTEE	1.00	Director	$0	$0	$0
LARSON BRIAN	TRUSTEE	1.00	Director	$0	$0	$0
MIES KIRK	TRUSTEE	1.00	Director	$0	$0	$0
MILLER HEATHER	TRUSTEE	1.00	Director	$0	$0	$0
NIELSON MARTHA GESME	TRUSTEE	1.00	Director	$0	$0	$0
NICHOLS BJ	TRUSTEE	1.00	Director	$0	$0	$0
NORDAN KENNETH	TRUSTEE	1.00	Director	$0	$0	$0
REITAN RACHEL	TRUSTEE	1.00	Director	$0	$0	$0
SCHULTZ RUTH	TRUSTEE	1.00	Director	$0	$0	$0
SORENSON RUTH	TRUSTEE	1.00	Director	$0	$0	$0
JOHNSON CHRIS	PRESIDENT	40.00	Officer	$134,763	$6,378	$141,141
DUBE SITHABILE	CFO/TREASURER	40.00	Officer	$115,000	$228	$115,228

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	$4,678,035	$4,344,593	$30,677,256	$333,442
2023	$5,032,867	$3,841,101	$31,026,303	$1,191,766
2022	$5,553,551	$3,340,220	$26,285,697	$2,213,331
2021	$7,187,886	$2,823,052	$24,953,272	$4,364,834
2020	$2,153,032	$2,933,339	$20,072,525	$-780,307
2019	$3,077,295	$3,198,843	$19,170,708	$-121,548
2018	$5,247,853	$2,772,561	$16,920,521	$2,475,292

VESTERHEIM NORWEGIAN-AMERICAN MUSEUM