SANFORD HEALTH FOUNDATION NORTH (EIN 450398104) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Principal Officer

BILL GASSEN

Phone

7012342000

Tax Period

2023-01-01 to 2023-12-31

Sanford Health Foundation North, founded in 1986, is a mid-sized nonprofit in the Health Care sector that reported $20.7M in total revenue in fiscal year 2017. Revenue surged 119% from the prior year, signaling strong growth momentum. The organization ran a surplus of $15.9M, a strong 77% operating margin.

Mission

TO INSPIRE PHILANTHROPY TO ADVANCE THE MISSION OF SANFORD HEALTH.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $6,329,346

Program Service Revenue $0

Investment Income $2,499,951

Other Revenue $8,549

TOTAL REVENUE $8,837,846

Expense Breakdown

Grants Paid $6,077,003

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $6,077,003

Other Expenses $0

TOTAL EXPENSES $6,077,003

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,837,846	$5,587,822	+0.6%
Expenses	$6,077,003	$5,164,792	+0.2%
Net Income	$2,760,843	$423,030	+5.5%

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

$8,708,710

Total Directors

$4,486,660

Key Employees

$481,227

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE BRUHN	EVP, CFO & TREASURER (END 6/23)	0.50	Officer	$0	$105,043	$3,631,305
BILL GASSEN	TRUSTEE, PRESIDENT & CEO	0.50	Officer Director	$0	$439,680	$3,261,032
BILL MARLETTE	INTERIM, EVP, CFO (BEG 6/23)	0.50	Officer	$0	$378	$1,306,708
MARK LUNDEEN MD	TRUSTEE, PHYSICIAN	0.50	Director	$0	$16,560	$608,433
DEB KOSKI	CHIEF PHILANTHROPIC OFFICER	5.00	Key Emp	$0	$49,029	$481,227
MICAH ABERSON	FORMER EVP	0.00		$0	$0	$453,110
ANDY NORTH	TRUSTEE, SECRETARY, INDEP CONTRACTOR	0.50	Officer Director	$0	$0	$324,345
BOBBIE TIBBETTS	FORMER CHIEF PHILANTHROPIC OFFICER	0.00		$0	$0	$124,802
NEIL GULSVIG	TRUSTEE, CHAIRPERSON	0.50	Officer Director	$0	$0	$66,718
BRENT TEIKEN	TRUSTEE, PAST CHAIR	0.50	Officer Director	$0	$0	$38,404
DON JACOBS	TRUSTEE (END 12/23)	0.50	Director	$0	$0	$37,332
LAURIS MOLBERT	TRUSTEE, VICE CHAIR	0.50	Officer Director	$0	$0	$37,099
JAMES CAIN	TRUSTEE	0.50	Director	$0	$0	$35,599
WESLEY ENGBRECHT	TRUSTEE	0.50	Director	$0	$0	$34,599
MARNIE HERMANN	TRUSTEE, TREASURER (BEG 4/23)	0.50	Officer Director	$0	$0	$32,099
ROBIN SMITH	TRUSTEE, TREASURER (END 4/23)	0.50	Officer Director	$0	$0	$11,000

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	$8,837,846	$6,077,003	$104,004,869	$2,760,843
2022	$5,587,822	$5,164,792	$89,361,279	$423,030
2021	$12,791,067	$6,667,198	$106,387,743	$6,123,869
2020	$11,024,432	$5,678,550	$97,741,963	$5,345,882
2019	$7,801,469	$6,691,319	$87,903,665	$1,110,150
2018	$20,656,907	$4,770,261	$53,734,949	$15,886,646

SANFORD HEALTH FOUNDATION NORTH