Ely Folk School (EIN 472706626) - 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

2015

Legal Domicile

Principal Officer

Chris Clemens

Phone

2182350138

Tax Period

2025-01-01 to 2025-12-31

Ely Folk School, founded in 2015, is a small nonprofit in the Arts, Culture & Humanities sector that reported $306K in total revenue in fiscal year 2025. Revenue grew 15% year-over-year, indicating healthy expansion. Expenses of $278K left a modest 9% surplus.

Mission

Mission Statement: Building community by providing learning experiences that celebrate the wilderness heritage art history culture and craft of the people of northern Minnesota.

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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 (2025)

Revenue Breakdown

Contributions & Grants $183,643

Program Service Revenue $104,803

Investment Income $0

Other Revenue $17,876

TOTAL REVENUE $306,322

Expense Breakdown

Grants Paid $0

Salaries & Benefits $149,393

Fundraising Expenses $16,682

Program Expenses $180,224

Other Expenses $128,281

TOTAL EXPENSES $277,674

Year-over-Year Comparison

	2025	2024	Change
Revenue	$306,322	$266,346	+0.2%
Expenses	$277,674	$233,671	+0.2%
Net Income	$28,648	$32,675	-0.1%

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

$44,706

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Chris Clemens	Board Treasurer	5.00	Officer Director	$0	$0	$0
Sue Remes	Board Member	1.00	Director	$0	$0	$0
Ozzie Reif	Board Member	1.00	Director	$0	$0	$0
Rick Anderson	Board Member	1.00	Director	$0	$0	$0
Sarah Paro	Board Member	1.00	Director	$0	$0	$0
Lacey Squier	Board Chair	5.00	Officer Director	$0	$0	$0
Jason Rabuck	Board Member	1.00	Director	$0	$0	$0
Rosa Oesterreich	Board Member	1.00	Director	$0	$0	$0
Steve Klar	Board Member	1.00	Director	$0	$0	$0
Lucy Soderstrom	Executive Director	40.00	Key Emp	$44,706	$0	$44,706
Kelly Cramer	Board Member	1.00	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
2025	$306,322	$277,674	$232,486	$28,648
2024	$266,346	$233,671	$189,167	$32,675
2023	$267,705	$219,052	$158,087	$48,653

Ely Folk School