NORTHERN GREAT LAKES INITIATIVES

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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

ELIZABETH SANGALLI

Phone

9062285571

Tax Period

2023-01-01 to 2023-12-31

NORTHERN GREAT LAKES INITIATIVES, founded in 2014, is a community nonprofit in the Human Services sector that reported $8.9M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.2M, a strong 37% operating margin.

Mission

TO ENCOURAGE, PROMOTE, AND FOSTER REVITALIZATION PROJECTS AND PROGRAMS BY OFFERING LOANS, STRATEGIC PLANNING AND OTHER SUPPORT TO ECONOMICALLY DISADVANTAGED COMMUNITIES IN THE GREAT LAKES WATERSHED REGION THAT ARE UNABLE TO ACCESS SUPPORT FROM TRADITIONAL SOURCES. BUSINESS DEVELOPMENT RESOURCES ARE AVAILABLE TO USERS OUTSIDE OF THE GREAT LAKES WATERSHED REGION.

Program Service Accomplishments

Program 1

Expenses: $2,261,449 Revenue: $1,861,006

FINANCE SERVICES: PROVIDED AFFORDABLE ACCESS TO CAPITAL TO RURAL AND UNDESERVED MARKETS FROM ITS REVOLVING LOAN FUND AND ASSOCIATED GRANTS.

Program 2

Expenses: $2,228,659 Revenue: $490,831

BUSINESS DEVELOPMENT SERVICES: PROVIDED CONSULTING, TRAINING, AND TECHNICAL ASSISTANCE TO BUSINESSES FOR PROCESS IMPROVEMENTS, SYSTEMS DEVELOPMENT, MARKET RESEARCH SERVICES, E-COMMERCE SERVICES...

BUSINESS DEVELOPMENT SERVICES: PROVIDED CONSULTING, TRAINING, AND TECHNICAL ASSISTANCE TO BUSINESSES FOR PROCESS IMPROVEMENTS, SYSTEMS DEVELOPMENT, MARKET RESEARCH SERVICES, E-COMMERCE SERVICES, ACCOUNTING, AND MARKETING ASSISTANCE.

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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 $6,274,520

Program Service Revenue $2,351,936

Investment Income $248,010

Other Revenue $0

TOTAL REVENUE $8,874,466

Expense Breakdown

Grants Paid $363,050

Salaries & Benefits $2,999,687

Fundraising Expenses $0

Program Expenses $4,490,108

Other Expenses $2,266,941

TOTAL EXPENSES $5,629,678

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,874,466	$8,055,442	+0.1%
Expenses	$5,629,678	$5,036,597	+0.1%
Net Income	$3,244,788	$3,018,845	+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

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

$451,776

Total Directors

$188,125

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ELIZABETH SANGALLI	PRESIDENT/CE	40.00	Officer Director	$170,625	$17,500	$188,125
CHARLES HURST	VP OF LENDIN	40.00	Officer	$119,424	$8,955	$128,379
AMANDA BLONDEAU	CHIEF STRATE	40.00	Officer	$116,174	$19,098	$135,272
KEVIN BOYLE	TRUSTEE	0.50	Director	$0	$0	$0
R GAVIN LEACH	TRUSTEE	0.50	Director	$0	$0	$0
CAROL JOHNSON	TRUSTEE	0.50	Director	$0	$0	$0
MEREDITH FREEMAN	TRUSTEE	0.50	Director	$0	$0	$0
PETER GRAVES	TRUSTEE	0.50	Director	$0	$0	$0
RON GRZYWINSKI	ASSISTANT SE	0.50	Officer Director	$0	$0	$0
MARY HOUGHTON	SECRETARY	0.50	Officer Director	$0	$0	$0
ALFRED JOYAL III	CHAIRPERSON	0.50	Officer Director	$0	$0	$0
KATHY MASON	TREASURER	0.50	Officer Director	$0	$0	$0
WES MAURER JR	ASSISTANT SE	0.50	Officer Director	$0	$0	$0
CHANDRA MCMILLION	TRUSTEE	0.50	Director	$0	$0	$0
SARA PROANO	TRUSTEE	0.50	Director	$0	$0	$0
DR ERIC TRAVAN	TRUSTEE	0.50	Director	$0	$0	$0
CHARLES VAN LOAN	TRUSTEE	0.50	Director	$0	$0	$0
THOMAS VEAR	TRUSTEE	0.50	Director	$0	$0	$0
MARK WILLIAMS	TRUSTEE	0.50	Director	$0	$0	$0
GREG WEST	TRUSTEE	0.50	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	No data	No data	No data	No data
2023	$8,874,466	$5,629,678	$44,891,076	$3,244,788
2022	$8,055,442	$5,036,597	$40,128,234	$3,018,845
2021	$5,262,373	$3,949,119	$39,536,700	$1,313,254
2020	$5,032,659	$5,056,633	$33,507,545	$-23,974
2019	$4,099,464	$3,889,447	$30,290,395	$210,017
2018	$13,265,049	$672,816	$26,168,418	$12,592,233