RIVER PLACE

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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

Principal Officer

BRENDA BAUMANN

Phone

2189860001

Tax Period

2024-01-01 to 2024-12-31

RIVER PLACE, founded in 2019, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024. Revenue fell 82% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $430K, a strong 33% operating margin.

Mission

WARROAD RIVERPLACE IS A 501(C)(3) NON-PROFIT ORGANIZATION WITH THE MISSION TO BECOME A WELCOMING PLACE FOR EVERYONE AND A WAY OF LIFE THAT WILL PROMOTE INSPIRED LIVING THROUGH CREATIVE EXPRESSION, ART EDUCATION, HUMAN CONNECTEDNESS, AND APPRECIAON FOR BEAUTY THROUGHOUT THE ENTIRE REGION.

Program Service Accomplishments

Program 1

Expenses: $177,423

TO PROMOTE INSPIRED LIVING IN THE ENTIRE WARROAD, MINNESOTA COMMUNITY THROUGH CREATIVE EXPRESSION, ART EDUCATION, HUMAN CONNECTEDNESS, AND APPRECIATION FOR BEAUTY. IN SUPPORT OF THIS MISSION, RIVER PLACE WILL:1. DEVELOP PROGRAMMING THAT SUPPORTS THE CREATION, INSTRUCTION, AND APPRECIATION OF ART, CULTURE, AND BEAUTY FOR ALL AGES IN THE COMMUNITY. EXAMPLES MAY INCLUDE, BUT ARE NOT LIMITED TO, PERFORMING ARTS, VISUAL ARTS, CULINARY ARTS, AND CULTURAL APPRECIATION.2. ENCOURAGE GROWTH OF THE INDIVIDUAL AS WELL AS STRENGTHENING OF GROUP BONDS. THIS MAY INCLUDE, BUT IS NOT LIMITED TO, FOSTERING SOCIAL INTERACTION, CONNECTION TO NATURE, AN APPRECIATION OF PLACE, GROUP CELEBRATIONS, PERSONAL WELL-BEING, ENTERTAINMENT, AND HEALTH/BALANCE OF THE MIND, BODY, AND SPIRIT.3. CREATE AND MAINTAIN A WELL-DESIGNED AND FLEXIBLE COMMUNITY SPACE IN WARROAD THAT INSPIRES PEOPLE AND FACILITATES THE ABOVE ACTIVITIES.GRAND OPENING TRANSPIRED IN OCTOBER 2024.

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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 $829,842

Program Service Revenue $0

Investment Income $490,097

Other Revenue $1,501

TOTAL REVENUE $1,321,440

Expense Breakdown

Grants Paid $0

Salaries & Benefits $316,963

Fundraising Expenses $0

Program Expenses $177,423

Other Expenses $574,170

TOTAL EXPENSES $891,133

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,321,440	$7,532,655	-0.8%
Expenses	$891,133	$317,607	+1.8%
Net Income	$430,307	$7,215,048	-0.9%

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

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

$171,075

Total Directors

$4,597

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JIM PROVANCE	BOARD MEMBER (UNTIL 11/4/24)	1.00	Director	$4,597	$0	$4,597
CRAIG ANDERSON	BOARD MEMBER	1.00	Director	$0	$0	$0
MARK BERTILRUD	BOARD MEMBER	1.00	Director	$0	$0	$0
NANCY FISHER	BOARD MEMBER	1.00	Director	$0	$0	$0
MARGARETTE MARVIN	BOARD MEMBER	1.00	Director	$0	$0	$0
CARMEN NORMAN PARSLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
JAY PELLAND	BOARD MEMBER	1.00	Director	$0	$0	$0
GABE HARREN	BOARD MEMBER	1.00	Director	$0	$0	$0
BRENDA BAUMANN	PRESIDENT	1.00	Officer Director	$0	$0	$0
PAUL MARVIN	CHAIR	1.00	Officer Director	$0	$0	$0
JENNA AMBROSIUS	SECRETARY	1.00	Officer Director	$0	$0	$0
RAY MUSGROVE	TREASURER	1.00	Officer Director	$0	$0	$0
JOHN DAVIS	EXECUTIVE DIRECTOR	40.00	Officer	$171,075	$0	$171,075

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	$1,321,440	$891,133	$30,379,267	$430,307
2023	$7,532,655	$317,608	$30,892,255	$7,215,047
2023	$7,532,655	$317,607	$30,892,256	$7,215,048
2022	$4,445,848	$135,023	$21,806,614	$4,310,825
2022	$4,445,846	$135,021	$21,806,614	$4,310,825
2021	$17,598,765	$10,823	$18,147,383	$17,587,942
2019	$550,000	$9,277	$540,723	$540,723