NORTHEAST MINNEAPOLIS TOOL LIBRARY (EIN 471051712) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2014

Legal Domicile

Principal Officer

Timothy McCormick

Phone

3202010227

Tax Period

2024-01-01 to 2024-12-31

NORTHEAST MINNEAPOLIS TOOL LIBRARY, founded in 2014, is a small nonprofit in the Education sector that reported $274K in total revenue in fiscal year 2024. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $44K, a strong 16% operating margin.

Mission

Lending tools to members and providing education regarding safe tool use.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $230,646

Program Service Revenue $42,772

Investment Income $459

Other Revenue $0

TOTAL REVENUE $273,877

Expense Breakdown

Grants Paid $0

Salaries & Benefits $123,222

Fundraising Expenses $0

Program Expenses $226,434

Other Expenses $106,668

TOTAL EXPENSES $229,890

Year-over-Year Comparison

	2024	2023	Change
Revenue	$273,877	$248,921	+0.1%
Expenses	$229,890	$182,346	+0.3%
Net Income	$43,987	$66,575	-0.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$41,512

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Timothy McCormick	President	5.00	Officer Director	$0	$0	$0
Katheryn Schneider	Boardmember	5.00	Director	$0	$0	$0
Zachary Wefel	Boardmember	5.00	Director	$0	$0	$0
Tim Nelson	Boardmember	5.00	Director	$0	$0	$0
Kate Hersey	Executive Director	20.00	Key Emp	$41,512	$0	$41,512
Nathan Schneider	Boardmember	5.00	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	$273,877	$229,890	$258,399	$43,987
2023	$248,921	$182,346	$214,409	$66,575

NORTHEAST MINNEAPOLIS TOOL LIBRARY