HOSPITALITY MN EDUCATION FOUNDATION

EIN: 710971013 501(c)(3) Education

MINNEAPOLIS, MN

Total Revenue
$460,805
Total Expenses
$387,267
Total Assets
$503,909
Net Assets
$473,866
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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
2004
Legal Domicile
MN
Principal Officer
ANGELA WHITCOMB
Phone
6517782400
Tax Period
2024-01-01 to 2024-12-31

HOSPITALITY MN EDUCATION FOUNDATION, founded in 2004, is a small nonprofit in the Education sector that reported $461K in total revenue in fiscal year 2024. Revenue surged 29% from the prior year, signaling strong growth momentum. The organization ran a surplus of $74K, a strong 16% operating margin.

Mission

WE ARE INVESTING IN OUR INDUSTRY'S FUTURE BY TRAINING THE WORKFORCE OF TODAY AND INSPIRING THE LEADERS OF TOMORROW.

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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 (2024)

Revenue Breakdown

Contributions & Grants $432,586
Program Service Revenue $16,490
Investment Income $0
Other Revenue $11,729
TOTAL REVENUE $460,805

Expense Breakdown

Grants Paid $92,808
Salaries & Benefits $0
Fundraising Expenses $71,172
Program Expenses $295,128
Other Expenses $294,459
TOTAL EXPENSES $387,267

Year-over-Year Comparison

2024 2023 Change
Revenue $460,805 $358,136 +0.3%
Expenses $387,267 $312,872 +0.2%
Net Income $73,538 $45,264 +0.6%
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
30
Independent Members
30
Employees
N/A
Volunteers
50

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
$171,595
Total Directors
29
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANGELA WHITCOMB PRESIDENT/CEO 1.00
Officer
$0 $10,947 $171,595
BRANDEN ROBINSON CHAIR 1.00
Officer Director
$0 $0 $0
KEITH REARDON VICE CHAIR 1.00
Officer Director
$0 $0 $0
AUSTIN THULL SECRETARY 1.00
Officer Director
$0 $0 $0
FRANK SOUKUP TREASURER 1.00
Officer Director
$0 $0 $0
DOUG KARLE PAST CHAIR/DIRECTOR 1.00
Officer Director
$0 $0 $0
PETER MIHAJLOV PAST CHAIR/DIRECTOR 1.00
Director
$0 $0 $0
TIM MURRAY PAST CHAIR/DIRECTOR 1.00
Director
$0 $0 $0
TIM BOLDT DIRECTOR 1.00
Director
$0 $0 $0
JOSHUA BROWN DIRECTOR 1.00
Director
$0 $0 $0
ROLLIE CARLSON DIRECTOR 1.00
Director
$0 $0 $0
RICK CASPER DIRECTOR 1.00
Director
$0 $0 $0
TIM DEVINS DIRECTOR 1.00
Director
$0 $0 $0
HOOBIE ESKURI DIRECTOR 1.00
Director
$0 $0 $0
BILL GODBE DIRECTOR 1.00
Director
$0 $0 $0
DEB HALLBECK DIRECTOR 1.00
Director
$0 $0 $0
JULIA HENDERSON DIRECTOR 1.00
Director
$0 $0 $0
JOYCE HWANG PHD DIRECTOR 1.00
Director
$0 $0 $0
MARTIN KAPPERNMAN DIRECTOR THROUGH FALL 24 1.00
Director
$0 $0 $0
JORDAN LENZ DIRECTOR 1.00
Director
$0 $0 $0
MARY LEVINSKI DIRECTOR 1.00
Director
$0 $0 $0
ANN LOVCIK DIRECTOR 1.00
Director
$0 $0 $0
SHEILA LUKONEN DIRECTOR 1.00
Director
$0 $0 $0
LEOPOLDO POLO NAVARRO DIRECTOR 1.00
Director
$0 $0 $0
CHEF BILL NIEMER DIRECTOR 1.00
Director
$0 $0 $0
TAMMY OLSON DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL PETERSON DIRECTOR 1.00
Director
$0 $0 $0
MONIQUE SABBY DIRECTOR 1.00
Director
$0 $0 $0
BRANDON SUPERNAULT DIRECTOR 1.00
Director
$0 $0 $0
KIMBERLY THOMPSON DIRECTOR 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
2024 $460,805 $387,267 $503,909 $73,538
2023 $358,136 $312,872 $405,151 $45,264
2022 $395,604 $306,138 $355,258 $89,466
2021 $130,361 $116,018 $269,732 $14,343
2021 $98,830 $110,194 $250,756 $-11,364
2020 $220,555 $210,768 $261,263 $9,787
2019 $234,612 $240,698 $269,920 $-6,086
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