LEECH LAKE FINANCIAL SERVICES INC

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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

2014

Legal Domicile

Principal Officer

ROB AITKEN

Phone

2183393940

Tax Period

2023-01-01 to 2023-12-31

LEECH LAKE FINANCIAL SERVICES INC, founded in 2014, is a small nonprofit in the Human Services sector that reported $789K in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $878K exceeded revenue, resulting in a 11% operating deficit.

Mission

TO PROMOTE ECONOMIC DEVELOPMENT BY PROVIDING SAFE, AFFORDABLE LOANS AND FINANCIAL TRAINING.

Program Service Accomplishments

Program 1

Expenses: $342,082 Revenue: $64,191

THE LOAN PROGRAMS PROVIDED MORE THAN 200 LOANS TO INDIVIDUALS AND BUSINESS WHO NORMALLY WOULDN'T QUALIFY FOR A CONVENTIONAL LOAN. THE PROGRAM ALSO PROVIDES FINANCIAL TRAINING.

Program 2

Expenses: $186,672

THE COMMUNITY DEVELOPMENT PROGRAM IS DEVELOPING PROGRAMS TO IMPROVE THE AFFORDABLE HOUSING IN RURAL NORTHERN MINNESOTA AND THE LEECH LAKE RESERVATION.

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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 $725,278

Program Service Revenue $52,639

Investment Income $0

Other Revenue $11,552

TOTAL REVENUE $789,469

Expense Breakdown

Grants Paid $10,581

Salaries & Benefits $461,433

Fundraising Expenses $0

Program Expenses $528,754

Other Expenses $406,067

TOTAL EXPENSES $878,081

Year-over-Year Comparison

	2023	2022	Change
Revenue	$789,469	$704,238	+0.1%
Expenses	$878,081	$346,585	+1.5%
Net Income	$-88,612	$357,653	-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

Volunteers

N/A

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

$179,079

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM ETHIER	CHAIR	2.00	Director	$0	$0	$0
BREANNA MIETTINEN	DIRECTOR	2.00	Director	$0	$0	$0
SARAH KUESEL	SECRETARY	1.00	Director	$0	$0	$0
KATIE GUTHRIE	DIRECTOR	1.00	Director	$0	$0	$0
GORDON FINEDAY	VICE CHAIR	2.00	Director	$0	$0	$0
JEFF EVERHART	TREASURER	2.00	Director	$0	$0	$0
JAIMEE MEYER	DIRECTOR	1.00	Director	$0	$0	$0
ROB AITKEN	EXECUTIVE DIRECTOR	40.00	Officer	$90,374	$0	$90,374
PAM SPONG	OPERATIONS & FINANCE MANAGER	40.00	Officer	$88,705	$0	$88,705

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
2023	$789,469	$878,081	$1,732,951	$-88,612
2022	$704,238	$701,063	$1,772,149	$3,175
2021	$593,731	$476,575	$1,315,355	$117,156
2020	$512,951	$329,725	$1,036,593	$183,226
2019	$270,357	$412,483	$862,551	$-142,126
2018	$474,371	$427,632	$846,645	$46,739