Minnesota Leadership Council on Aging

EIN: 473146194 501(c)(3) Education

Arden Hills, MN

Total Revenue
$219,375
Total Expenses
$154,266
Total Assets
$175,033
Net Assets
$171,914
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2015
Legal Domicile
MN
Principal Officer
Adam Suomala
Phone
6516418612
Tax Period
2021-07-01 to 2022-06-30

Minnesota Leadership Council on Aging, founded in 2015, is a small nonprofit in the Education sector that reported $219K in total revenue in fiscal year 2021. Revenue surged 35% from the prior year, signaling strong growth momentum. The organization ran a surplus of $65K, a strong 30% operating margin.

Mission

The Minnesota Leadership Council on Aging creates communities and systems that support aging with dignity and a spirit of well-being in Minnesota.

Program Service Accomplishments

Program 1
Expenses: $106,735 Revenue: $85,080

The Minnesota Leadership Council on Aging is a champion, thought leader, planner and educator that advances positive system change for older adults, their families and caregivers. In 2021-2022, there...

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The Minnesota Leadership Council on Aging is a champion, thought leader, planner and educator that advances positive system change for older adults, their families and caregivers. In 2021-2022, there were 33 non-profit member organization that were part of the Leadership Council. The 2021 Summit, titled "The AGEnda" was held on November 3 and December 1, 2021.The primary objectives were as follows. (1) To understand the importance of strategic foresight for navigating uncertainty and influencing the experience of aging in the future; (2) To explore Dr. Richard Lum's 4 Steps to the Future process and it's application to support our work; (3) thinking critically about our work as inidividual leaders and as a sector to shape and lead change; (4) To activate stakeholders into ownership of and participation in developing a statewide framework for improving the experience of aging.

Program 2

The Minnesota Leadership Council on Aging added to the number of virtual education offerings throughout the year, including a Combating Ageism training on March 24, 2022 and a Microaggressions...

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The Minnesota Leadership Council on Aging added to the number of virtual education offerings throughout the year, including a Combating Ageism training on March 24, 2022 and a Microaggressions training on June 23, 2022

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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%)

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Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $134,295
Program Service Revenue $85,080
Investment Income $0
Other Revenue $0
TOTAL REVENUE $219,375

Expense Breakdown

Grants Paid $0
Salaries & Benefits $68,220
Fundraising Expenses $0
Program Expenses $106,735
Other Expenses $86,046
TOTAL EXPENSES $154,266

Year-over-Year Comparison

2021 2020 Change
Revenue $219,375 $162,139 +0.4%
Expenses $154,266 $156,137 0.0%
Net Income $65,109 $6,002 +9.8%
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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Governance

Voting Members
15
Independent Members
15
Employees
N/A
Volunteers
16

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
6
$68,220
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
James Falvey Chair 1.00
Officer Director
$0 $0 $0
Jessica Hausauer Vice Chair 1.00
Officer Director
$0 $0 $0
Dawn Simonson Immediate Past Chair 1.00
Officer Director
$0 $0 $0
Amanda Vikstrom Secretary 1.00
Officer Director
$0 $0 $0
Mary McKeown Treasurer 1.00
Officer Director
$0 $0 $0
Beth Wiggins Member 1.00
Director
$0 $0 $0
Kari Thurlow Member 1.00
Director
$0 $0 $0
Roxana Linares Member 1.00
Director
$0 $0 $0
Patti Cullen Member 1.00
Director
$0 $0 $0
Ann Bailey Member 1.00
Director
$0 $0 $0
Deb Taylor Member 1.00
Director
$0 $0 $0
Heidi Holste Member 1.00
Director
$0 $0 $0
Ruth Olkon Member 1.00
Director
$0 $0 $0
Julie Manworren Member 1.00
Director
$0 $0 $0
Patricia McArdle Member 1.00
Director
$0 $0 $0
Adam Suomala Executive Director and President 25.00
Officer
$68,220 $0 $68,220
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
2022 $219,375 $154,266 $175,033 $65,109
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