BRIDGES OF HOPE

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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

2002

Legal Domicile

Principal Officer

MICHAEL AUSTIN

Phone

2188257682

Tax Period

2024-01-01 to 2024-12-31

BRIDGES OF HOPE, founded in 2002, is a community nonprofit in the Mental Health sector that reported $2.2M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion.

Mission

BRIDGES OF HOPE WAS FOUNDED IN 2002 AS A 501C3 FAITH-BASED NONPROFIT ORGANIZATION. THE MISSION OF BRIDGES OF HOPE IS TO BUILD BRIDGES OF SUPPORT, ANCHORED IN CHRIST'S LOVE, AMONG THOSE WE SERVE AND SERVE ALONGSIDE. BRIDGES OF HOPE IS FOR EVERYONE; HOPE IS FOR EVERYONE. ALTHOUGH THE ORGANIZATION IS FOUNDED ON RELIGIOUS PRINCIPLES, THE SERVICES TO HOUSEHOLDS ARE ALWAYS PROVIDED WITHOUT REFERENCE TO OR EXPECTATION OF ANY STATED BELIEF. BRIDGES OF HOPE PARTNERS WITH THE COMMUNITY TO STRENGTHEN, STABILIZE, AND SUPPORT INDIVIDUALS AND FAMILIES. BRIDGES OF HOPE SERVES ANYONE WHO CONTACTS US WITHIN CROW WING COUNTY AND THE SURROUNDING COMMUNITIES IN CENTRAL MINNESOTA. EVERY PERSON WHO REACHES OUT FOR HELP IS FACING A UNIQUE CHALLENGE. UNLIKE TRADITIONAL HUMAN SERVICE AGENCIES THAT TYPICALLY FOCUS ON A SINGLE TYPE OF SERVICE SUCH AS HOUSING, COUNSELING, OR HEALTHBRIDGES OF HOPE FOCUSES ON ASSISTING THE WHOLE HOUSEHOLD BY ASSESSING THEIR NEEDS AND STRENGTHS AND WORKING CREATIVELY AND COLLABORATIVELY TO PROVIDE INTERVENTIONS THAT HELP THEM MOVE FORWARD. BRIDGES OF HOPE DOES NOT SET INCOME OR ASSET LIMITS AS PART OF OUR ELIGIBILITY; OUR EXPERTISE IS IN HELPING A HOUSEHOLD ACCESS THE EXISTING RESOURCES THEY QUALIFY FOR AND IN SEEKING CREATIVE SOLUTIONS FOR THOSE WHO ARE NOT ELIGIBLE FOR MORE TRADITIONAL SERVICES (SUCH AS COUNTY SOCIAL SERVICES). OUR RESOURCES AND SERVICES PROGRAMMING VISION IS FOR A FUTURE WHERE ALL PEOPLE CAN ACCESS VITAL RESOURCES AND SUPPORT, FOSTERING RESILIENCE, DIGNITY, AND LASTING TRANSFORMATION. OUR GOAL IS TO BUILD A COMPASSIONATE AND CONNECTED COMMUNITY THAT EMPOWERS INDIVIDUALS AND FAMILIES.

Program Service Accomplishments

Program 1

Expenses: $1,191,136 Revenue: $1,409,425

COMMON GOODS CHARITY THRIFT STORE: OPERATED THREE THRIFT STORES TO CONTINUE MISSION OF SUPPORTING CHILDREN AND FAMILIES. THE STORE UTILIZED VOLUNTEERS TO ASSIST IN STORE OPERATIONS AND PROCESSING...

COMMON GOODS CHARITY THRIFT STORE: OPERATED THREE THRIFT STORES TO CONTINUE MISSION OF SUPPORTING CHILDREN AND FAMILIES. THE STORE UTILIZED VOLUNTEERS TO ASSIST IN STORE OPERATIONS AND PROCESSING DONATIONS. THE GOAL OF COMMON GOODS IS TO HAVE A MAJOR IMPACT ON THE NUMBER OF PRODUCTS LEAVING THE AREA AND/OR ENTERING LANDFILLS. GOODS ARE RECYCLED AND REDISTRIBUTED WITHIN THE COMMUNITY, AND AS A RESULT, LOCAL DONATIONS STAY LOCAL AND PROCEEDS FROM THE STORE HELP US SERVE LOCAL FAMILIES IN NEED. IN 2023, WE BEGAN RECYCLING TEXTILES WITH A PARTNER ORGANIZATION IN CROSBY, MN. WE PURCHASED A BALER AND FORKLIFT AND ARE COLLECTING TEXTILES AT OUR THRIFT STORES TO BE RECYCLED. THE GOAL IS TO CREATE POSITIVE CHANGE BY REDUCING WASTE IN LOCAL LANDFILLS. THE REVENUE STREAM WILL BE USED TO SUPPLEMENT BRIDGES OF HOPE'S CURRENT PROGRAMS, WHICH SUPPORTS INDIVIDUALS AND FAMILIES IN NEED IN THE BRAINERD LAKES AREA.

Program 2

Expenses: $330,396

WARMING SHELTER: A SAFE, SECURE, WARM PLACE TO SLEEP FOR THE COLDER MONTHS FOR THOSE 18+ OF AGE. HOURS OF OPERATION ARE 7 PM - 8 AM AND TRAINED STAFF ARE PRESENT DURING OPEN HOURS OF OPERATION.

Program 3

Expenses: $141,374

RESOURCE CONNECTION SERVICES IS A SINGLE POINT OF ENTRY IN THE COMMUNITY FOR INDIVIDUALS AND FAMILIES WITH A SHORT-TERM CHALLENGE OR NEED; PROVIDING ACCESS TO THE RESOURCES THEY NEED TO REGAIN...

RESOURCE CONNECTION SERVICES IS A SINGLE POINT OF ENTRY IN THE COMMUNITY FOR INDIVIDUALS AND FAMILIES WITH A SHORT-TERM CHALLENGE OR NEED; PROVIDING ACCESS TO THE RESOURCES THEY NEED TO REGAIN STABILITY. WHEN NECESSARY, WE DISBURSE DIRECT FINANCIAL ASSISTANCE TO OVERCOME BARRIERS TO STABILITY, SUCH AS SUDDEN HEALTH EXPENSES OR IMMEDIATE RENT SUPPORT. CLIENTS CONTACT BRIDGES OF HOPE BECAUSE THEY NEED HELP WITH BASIC NEEDS, RANGING FROM FOOD INSECURITY, HOUSING, UTILITIES, MEDICAL BILLS, TRANSPORTATION, AND EMPLOYMENT ASSISTANCE. IN 2024 WE ASSISTED 3,192 CLIENTS WITH $62,333.69 IN FINANCIAL 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 (2024)

Revenue Breakdown

Contributions & Grants $753,727

Program Service Revenue $0

Investment Income $17,961

Other Revenue $1,413,928

TOTAL REVENUE $2,185,616

Expense Breakdown

Grants Paid $141,374

Salaries & Benefits $1,299,323

Fundraising Expenses $68,375

Program Expenses $1,993,302

Other Expenses $698,195

TOTAL EXPENSES $2,138,892

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,185,616	$1,905,856	+0.1%
Expenses	$2,138,892	$1,895,525	+0.1%
Net Income	$46,724	$10,331	+3.5%

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

375

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

$123,271

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL AUSTIN	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
PASTOR SARAH MARSHALL	VICE CHAIR	1.00	Officer Director	$0	$0	$0
AARON STEGNER	TREASURER	1.00	Officer Director	$0	$0	$0
MATT KARLGAARD	SECRETARY	1.00	Officer Director	$0	$0	$0
MEGAN FRIEDRICH	DIRECTOR	1.00	Director	$0	$0	$0
SARAH KINKEADE	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTY RAMLER	DIRECTOR	1.00	Director	$0	$0	$0
TAMI LUECK	DIRECTOR	1.00	Director	$0	$0	$0
KYLE KNUDSEN	DIRECTOR	1.00	Director	$0	$0	$0
LUKE CHRISTIANSEN	DIRECTOR	1.00	Director	$0	$0	$0
RANDY CAPELLE	DIRECTOR	1.00	Director	$0	$0	$0
TERESE DIRKS	DIRECTOR	1.00	Director	$0	$0	$0
JASON KOTTKE	DIRECTOR	1.00	Director	$0	$0	$0
JANA SHOGREN	EXECUTIVE DIRECTOR	40.00	Officer	$117,271	$6,000	$123,271

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	$2,185,616	$2,138,892	$2,225,980	$46,724
2023	$1,905,856	$1,895,525	$1,966,424	$10,331
2022	$1,694,290	$1,680,677	$1,252,624	$13,613
2021	$1,767,420	$1,215,464	$1,016,950	$551,956
2020	$1,161,449	$1,002,812	$522,804	$158,637
2019	$1,014,097	$1,224,034	$259,362	$-209,937
2018	$1,126,816	$1,103,768	$475,876	$23,048
2017	$937,509	$932,345	$445,319	$5,164