MINNESOTA ALLIANCE FOR PATIENT SAFETY (EIN 454173347) - 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

2012

Legal Domicile

Principal Officer

MICHAEL NOVAK

Phone

9528538559

Tax Period

2024-01-01 to 2024-12-31

MINNESOTA ALLIANCE FOR PATIENT SAFETY, founded in 2012, is a micro nonprofit in the Health Care sector that reported $99K in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $189K exceeded revenue, resulting in a 91% operating deficit.

Mission

MINNESOTA ALLIANCE FOR PATIENT SAFETY UTILIZES DIVERSE STAKEHOLDERS TO ADDRESS PATIENT SAFETY ISSUES FOR WHICH COLLABORATIVE ACTION WILL ADVANCE THE STATE TOWARD THEVISION OF THE SAFEST CARE POSSIBLE.

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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 $92,285

Program Service Revenue $0

Investment Income $29

Other Revenue $6,215

TOTAL REVENUE $98,529

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $182,070

Other Expenses $188,560

TOTAL EXPENSES $188,560

Year-over-Year Comparison

	2024	2023	Change
Revenue	$98,529	$126,097	-0.2%
Expenses	$188,560	$167,237	+0.1%
Net Income	$-90,031	$-41,140	+1.2%

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

$562,968

Total Directors

$395,579

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JENNIFER LUNDBLAD	STRATIS HEALTH CEO/MAPS VICE CHAIR	1.00	Officer Director	$0	$0	$323,898
JANET SILVERSMITH	DIRECTOR	1.00	Director	$0	$0	$0
TERRA CAREY	DIRECTOR	1.00	Director	$0	$0	$0
ABIGAIL GREENHECK	DIRECTOR - SECRETARY/TREASURER	1.00	Officer Director	$0	$0	$0
ABRAHAM JACOB	DIRECTOR	1.00	Director	$0	$0	$0
LISA JULIAR	DIRECTOR	15.00	Director	$71,681	$0	$71,681
DAVID SATIN	DIRECTOR	1.00	Director	$0	$0	$0
KARI THURLOW	DIRECTOR - CHAIR	1.00	Officer Director	$0	$0	$0
MELISSA FRITZ	DIRECTOR	1.00	Director	$0	$0	$0
JENNIFER SCHOENECKER	DIRECTOR	1.00	Director	$0	$0	$0
GARY BOUGIE	DIRECTOR	1.00	Director	$0	$0	$0
DIANE RYDRYCH	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT CIMA	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL NOVAK	STRATIS HEALTH CFO	1.00	Officer	$0	$0	$180,570
HEIDI HOLSTE	EXECUTIVE DIRECTOR	15.00	Officer	$58,500	$0	$58,500

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	$98,529	$188,560	$215,319	$-90,031
2023	$126,097	$167,237	$301,464	$-41,140
2023	$126,097	$167,237	$301,464	$-41,140
2022	$113,000	$171,731	$348,335	$-58,731
2021	$135,777	$167,043	$403,779	$-31,266
2020	$252,046	$244,097	$372,075	$7,949
2019	$230,723	$288,790	$370,704	$-58,067
2018	$229,380	$219,485	$402,994	$9,895

MINNESOTA ALLIANCE FOR PATIENT SAFETY