FARIBAULT AREA HOSPICE FOUNDATION

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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

Tax Period

2023-01-01 to 2023-12-31

FARIBAULT AREA HOSPICE FOUNDATION, founded in 2014, is a micro nonprofit in the Health Care sector that reported $49K in total revenue in fiscal year 2023. Revenue surged 44% from the prior year, signaling strong growth momentum. Net assets of $899K represent 222 months of operating reserves.

Mission

TO IMPROVE THE QUALITY OF LIFE FOR PATIENTS AND THEIR LOVED ONES IN THE DISTRICT ONE HOSPITAL AREA.

Program Service Accomplishments

Program 1

Expenses: $48,748

THE FOUNDATION PROVIDES SUPPORT FOR INDIVIDUAL HOSPICE PATIENTS AND THEIR LOVED ONES TO IMPROVE THE QUALITY OF LIFE THROUGH COMFORT CARE, SUPPORT, AND COMPASSION. THE FOUNDATION PROVIDED FINANCIAL...

THE FOUNDATION PROVIDES SUPPORT FOR INDIVIDUAL HOSPICE PATIENTS AND THEIR LOVED ONES TO IMPROVE THE QUALITY OF LIFE THROUGH COMFORT CARE, SUPPORT, AND COMPASSION. THE FOUNDATION PROVIDED FINANCIAL ASSISTANCE TO HOSPICE PATIENTS AND THEIR FAMILIES TO ASSIST WITH EXPENSES, SUCH AS PAYMENT OF UTILITY BILLS, GIFT CARDS FOR GROCERIES, OTHER HOUSEHOLD EXPENSES, THERAPY SERVICES, HOMECARE, TRANSPORTATION, AND RESIDENTIAL HOSPICE SERVICES.

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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 $20,776

Program Service Revenue $0

Investment Income $27,906

Other Revenue $0

TOTAL REVENUE $48,682

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $48,748

Other Expenses $49,385

TOTAL EXPENSES $49,385

Year-over-Year Comparison

	2023	2022	Change
Revenue	$48,682	$33,865	+0.4%
Expenses	$49,385	$75,750	-0.3%
Net Income	$-703	$-41,885	-1.0%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JULIE FOX	DIRECTOR	0.50	Director	$0	$0	$0
JEFF SANDGRAN	DIRECTOR	0.50	Director	$0	$0	$0
NORMA SCHULTZ	DIRECTOR	0.50	Director	$0	$0	$0
JEAN BRAZIL	DIRECTOR	0.50	Director	$0	$0	$0
KRIS DREULOW	DIRECTOR	0.50	Director	$0	$0	$0
SARAH EDWARDS	DIRECTOR	0.50	Director	$0	$0	$0
AMY WILLIAMSON	DIRECTOR	0.50	Director	$0	$0	$0
CALISTA VOS	VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
RICK MILLER	EXECUTIVE DIRECTOR	1.00	Officer Director	$0	$0	$0
GARY VOEGELE	PRESIDENT	0.50	Officer Director	$0	$0	$0
KEN KANGAS	TREASURER	0.50	Officer Director	$0	$0	$0
AUDRREY TEBO	SECRETARY	0.50	Officer 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
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$48,682	$49,385	$899,218	$-703
2022	$33,865	$75,750	$833,499	$-41,885
2021	$40,966	$88,643	$875,384	$-47,677
2020	$53,297	$99,314	$923,061	$-46,017
2019	$50,024	$148,322	$969,078	$-98,298
2018	$27,120	$205,524	$1,067,376	$-178,404