KRINGEN CLUB INC SONS OF NORWAY (EIN 450375546) - 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

1974

Legal Domicile

Principal Officer

BILL MARTINSON

Phone

7012329222

Tax Period

2023-01-01 to 2023-12-31

KRINGEN CLUB INC SONS OF NORWAY, founded in 1974, is a small nonprofit that reported $319K in total revenue in fiscal year 2023. Expenses of $441K exceeded revenue, resulting in a 38% operating deficit.

Mission

TO PROMOTE AND PRESERVE THE HERITAGE AND CULTURE OF NORWAY, TO CELEBRATE OUR RELATIONSHIP WITH OTHER NORDIC COUNTRIES, AND TO PROVIDE QUALITY INSURANCE AND FINANCIAL PRODUCTS TO ITS MEMBERS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $18,260

Program Service Revenue $17,495

Investment Income $6,750

Other Revenue $276,511

TOTAL REVENUE $319,016

Expense Breakdown

Grants Paid $0

Salaries & Benefits $208,770

Fundraising Expenses $0

Other Expenses $232,170

TOTAL EXPENSES $440,940

Year-over-Year Comparison

	2023	2022	Change
Revenue	$319,016	$320,455	0.0%
Expenses	$440,940	$433,842	+0.0%
Net Income	$-121,924	$-113,387	+0.1%

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
JILL WILKEY	PRESIDENT	1.00	Officer Director	$0	$0	$0
JOAN BOMMEN	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
BILL MARTINSON	TREASURER	1.00	Officer Director	$0	$0	$0
DEB ANKENEY	SECRETARY	1.00	Officer Director	$0	$0	$0
PAUL VESLEDAHL	DIRECTOR	1.00	Director	$0	$0	$0
LYNNE OLSON ROMMESMO	TRUSTEE	1.00	Director	$0	$0	$0
KYLE HANDEGAARD	DIRECTOR	1.00	Director	$0	$0	$0
CHRIS CARLSON	DIRECTOR	1.00	Director	$0	$0	$0
MARILYN MARTINSON	LODGE PRESIDENT	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	No data	No data	No data	No data
2023	$319,016	$440,940	$993,987	$-121,924
2022	$320,455	$433,842	$1,064,106	$-113,387
2021	$387,700	$367,803	$1,211,034	$19,897
2020	$832,949	$316,597	$1,155,255	$516,352
2019	$256,491	$254,996	$346,693	$1,495
2018	$269,889	$259,613	$346,201	$10,276

KRINGEN CLUB INC SONS OF NORWAY