MILLE LACS AREA HEALTH FOUNDATION

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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

2005

Legal Domicile

Principal Officer

MARY PAULA MONTEIRO

Phone

3205322604

Tax Period

2023-10-01 to 2024-09-30

MILLE LACS AREA HEALTH FOUNDATION, founded in 2005, is a small nonprofit in the Medical Research sector that reported $552K in total revenue in fiscal year 2023. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $510K, a strong 92% operating margin.

Mission

OUR MISSION IS TO SUPPORT THE DIVERSE AND CHANGING HEALTHCARE NEEDS OF THE MILLE LACS AREA THROUGH VOLUNTEERISM AND CHARITABLE GIVING.

Program Service Accomplishments

Program 1

Expenses: $26,880 Revenue: $0

DONATIONS AND FUND RAISING PROGRAMS ARE USED TO SUPPORT THE DIVERSE AND CHANGING HEALTHCARE NEEDS OF THE MILLE LACS AREA THROUGH VOLUNTEERISM AND CHARITABLE GIVING.

Program 2

Expenses: $2,000 Revenue: $0

SCHOLARSHIPS TO ENSURE A STRONG WORK FORCE BY ENCOURAGING THOSE INTERESTED IN THE FIELD OF HEALTHCARE.

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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 $529,607

Program Service Revenue $0

Investment Income $9,618

Other Revenue $13,206

TOTAL REVENUE $552,431

Expense Breakdown

Grants Paid $28,880

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $28,880

Other Expenses $13,816

TOTAL EXPENSES $42,696

Year-over-Year Comparison

	2023	2022	Change
Revenue	$552,431	$438,179	+0.3%
Expenses	$42,696	$86,751	-0.5%
Net Income	$509,735	$351,428	+0.5%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY PAULA MONTEIRO	PRESIDENT	1.00	Officer Director	$0	$0	$0
CRAIG LEMIEUX	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
DAWN OSTERMAN	TREASURER	1.00	Officer Director	$0	$0	$0
JEAN STAFFORD	SECRETARY	1.00	Officer Director	$0	$0	$0
SHELLIE ATHMAN	DIRECTOR	1.00	Director	$0	$0	$0
DOUG HALVORSON	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS BURR	DIRECTOR	1.00	Director	$0	$0	$0
JULIE SOLBERG	DIRECTOR	1.00	Director	$0	$0	$0
BETH SUMNER	DIRECTOR	1.00	Director	$0	$0	$0
HANS WOELFLE	DIRECTOR	1.00	Director	$0	$0	$0
LINDA CARON	DIRECTOR	1.00	Director	$0	$0	$0
JAMIE ROOT-LARSEN	EXECUTIVE DIRECTOR	32.00	Officer	$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	$552,431	$42,696	$728,122	$509,735
2023	$438,179	$86,751	$678,323	$351,428
2022	$454,567	$30,098	$2,231,872	$424,469
2021	$835,464	$31,206	$1,864,180	$804,258
2020	$416,542	$146,426	$1,029,979	$270,116
2019	$157,158	$26,445	$695,042	$130,713
2018	$123,986	$160,307	$541,728	$-36,321