BOREALIS ART GUILD INC

EIN: 473541299 501(c)(3) Arts, Culture & Humanities

HIBBING, MN

Total Revenue
$53,830
Total Expenses
$54,623
Total Assets
$368,479
Net Assets
$367,863
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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
MN
Principal Officer
MELISSA CORADDI
Phone
2189692388
Tax Period
2025-04-01 to 2025-12-31

BOREALIS ART GUILD INC, founded in 2015, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $54K in total revenue in fiscal year 2025. Revenue fell 31% from the prior year — a significant decline worth monitoring. Net assets of $368K represent 82 months of operating reserves.

Mission

To inspire, support, and connect artists of all skill levels and backgrounds.

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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 (2025)

Revenue Breakdown

Contributions & Grants $2,963
Program Service Revenue $10,937
Investment Income $29,720
Other Revenue $10,210
TOTAL REVENUE $53,830

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $4,395
Other Expenses $54,623
TOTAL EXPENSES $54,623

Year-over-Year Comparison

2025 2024 Change
Revenue $53,830 $78,146 -0.3%
Expenses $54,623 N/A N/A
Net Income $-793 $78,146 -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

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Governance

Voting Members
6
Independent Members
6
Employees
N/A
Volunteers
6

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
0
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MELISSA CORADDI PRESIDENT 20.00
Director
$0 $0 $0
LINDA NYQUIST VICE PRESIDENT 20.00
Director
$0 $0 $0
CLARA METZER SECRETARY 2.00
Director
$0 $0 $0
KAREN LORENZ TREASURER 2.00
Director
$0 $0 $0
JOLENE SNELL BOARD MEMBER 0.50
Director
$0 $0 $0
DAVID SAMUELSON BOARD MEMBER 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
2025 $53,830 $54,623 $368,479 $-793
2023 $259,168 $61,720 $305,071 $197,448
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