THE PARACHUTE FOUNDATION

EIN: 841767763 501(c)(3) Health Care

MINNETONKA, MN

Total Revenue
$216,984
Total Expenses
$229,202
Total Assets
$41,870
Net Assets
$41,870
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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
2019
Legal Domicile
MN
Principal Officer
PAUL GIEL JR
Tax Period
2023-01-01 to 2023-12-31

THE PARACHUTE FOUNDATION, founded in 2019, is a small nonprofit in the Health Care sector that reported $217K in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring.

Mission

SUPPORT FAMILIES DURING EARLY RECOVERY

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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 (2023)

Revenue Breakdown

Contributions & Grants $76,000
Program Service Revenue $0
Investment Income $566
Other Revenue $140,418
TOTAL REVENUE $216,984

Expense Breakdown

Grants Paid $33,112
Salaries & Benefits $26,366
Fundraising Expenses $0
Program Expenses $33,112
Other Expenses $169,724
TOTAL EXPENSES $229,202

Year-over-Year Comparison

2023 2022 Change
Revenue $216,984 $277,936 -0.2%
Expenses $229,202 $277,507 -0.2%
Net Income $-12,218 $429 -29.5%
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

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
10

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
3
$26,366
Total Directors
3
$26,366
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PAUL GIEL JR PRESIDENT 35.00
Officer Director
$26,366 $0 $26,366
RICK DESLAURIERS TREASURER 5.00
Officer Director
$0 $0 $0
JOSEPH W HUTTON SECRETARY 5.00
Officer 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 No data No data No data No data
2023 $216,984 $229,202 $41,870 $-12,218
2022 $277,936 $277,507 $55,235 $429
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