MADISON, MN
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)THE MADISON ART AND INNOVATION CENTER, founded in 2023, is a small nonprofit in the Human Services sector that reported $216K in total revenue in fiscal year 2024. Revenue surged 762% from the prior year, signaling strong growth momentum.
THE MISSION OF THE MADISON ART AND INNOVATION CENTER (THE CENTER) IS TO SERVE AS AN ACCESSIBLE, EQUITABLE AND INCLUSIVE SPACE FOR ART, CULTURE, INNOVATION AND COMMUNITY BUILDING. TO ACHIEVE THESE ENDS, THE CENTER WILL ENGAGE IN THE FOLLOWING PRIMARY ACTIVITIES: (1) PROVIDING FREE MEETING SPACE AND SUPPORTIVE RESOURCES FOR NONPROFITS AND COMMUNITY ORGANIZATIONS; (2) HOSTING COMMUNITY EDUCATION RELATED TO HEALTHY LIVING, WELLNESS, AND OTHER EDUCATIONAL TOPICS; (3) PROVIDING FREE ART- AND MUSIC-FOCUSED EXPERIENCES TO THE PUBLIC BY OFFERING SPACE FOR LOCAL ARTISTS TO DISPLAY WORK, HOSTING MUSICAL PERFORMANCES AND CONCERT SERIES, AND PROVIDING CLASSROOM SPACE FOR ARTS EDUCATION; AND (4) COMMUNITY WELLNESS CLASSES AND PROGRAMS.
FIRST, THE CENTER WILL PROMOTE DEEPENING OF COMMUNITY CONNECTIONS BY OFFERING FREE MEETING SPACE FOR NONPROFITS AND COMMUNITY ORGANIZATIONS SUCH AS THOSE SUPPORTING SENIOR SOCIAL ACTIVITIES, ART...
FIRST, THE CENTER WILL PROMOTE DEEPENING OF COMMUNITY CONNECTIONS BY OFFERING FREE MEETING SPACE FOR NONPROFITS AND COMMUNITY ORGANIZATIONS SUCH AS THOSE SUPPORTING SENIOR SOCIAL ACTIVITIES, ART COUNCILS, LOCAL COMMUNITY FOUNDATIONS, COMMUNITY THEATER GROUPS, FOOD BANKS, QUILTING CLUBS, BOOK CLUBS, BIBLE STUDY GROUPS, CAREGIVER SUPPORT GROUPS, ECONOMIC DEVELOPMENT AUTHORITIES, AND SIMILAR RESOURCES AND COMMUNITY-BUILDING ORGANIZATIONS. THE CENTER MAY ALSO PROVIDE SUPPORTIVE RESOURCES SUCH AS FREE ACCESS TO TECHNOLOGY, THE USE OF EQUIPMENT AND SUPPLIES, AND OTHER SUPPORTS TO THESE NONPROFIT AND COMMUNITY ORGANIZATIONS. THE CENTER WILL ALSO HOST COMMUNITY EDUCATION EVENTS AND SEMINARS FOR THE PUBLIC TO HELP PROMOTE THE UNDERSTANDING OF ISSUES IMPORTANT TO SOCIETY. FOR EXAMPLE, THE CENTER MAY OFFER EDUCATIONAL PROGRAMS TO THE PUBLIC FOCUSED ON STRATEGIES AND RESOURCES TO IMPROVE THE MENTAL AND PHYSICAL HEALTH OF INDIVIDUALS AND FAMILIES, COURSES ON DIGITAL LITERACY FOR SENIORS, EDUCATIONAL SEMINARS FOR ENTREPRENEURS, OR SIMILAR PROGRAMS. SUCH EDUCATIONAL ACTIVITIES MAY TAKE THE FORM OF CLASSES, CONFERENCES, SEMINARS, OR PUBLICATIONS SUCH AS BROCHURES AND ONLINE WEB CONTENT. THESE EDUCATIONAL ACTIVITIES WILL BE FREE OF CHARGE OR AT A REDUCED COST INTENDED ONLY TO COVER THE CENTERS EXPENSES. THE CENTER MAY PROVIDE SUPPLEMENTAL RESOURCES SUCH AS FREE CO-WORKING SPACE AND COMMON USE COMPUTERS, PRINTERS, AND OTHER EQUIPMENT. THESE ACTIVITIES ARE INTENDED TO PROMOTE THE UNDERSTANDING, RECOGNITION, AND AWARENESS OF ISSUES USEFUL TO INDIVIDUALS AND FAMILIES AND RELEVANT TO THE GREATER COMMUNITY. IN ADDITION, THE CENTER WILL PROVIDE ART- AND MUSIC-FOCUSED SPACE AND EXPERIENCES TO THE PUBLIC. THESE INCLUDE SPACE FOR LOCAL ARTISTS TO DISPLAY THEIR ARTWORK ON A ROTATING BASIS, HIGHLIGHTING VARIOUS ARTISTS AND ARTISTIC TALENT IN THE LOCAL COMMUNITY, AND HOSTING MUSICAL PERFORMANCES, CONCERT SERIES, AND OTHER PERFORMANCE ART. THE CENTER WILL ALSO PROVIDE FREE GATHERING SPACE FOR ARTS EDUCATION CLASSES WITH THE GOAL OF INCREASING PUBLIC ACCESS TO ARTS EDUCATION AND ENRICHMENT. FINALLY, THE CENTER INTENDS TO OFFER WELLNESS PROGRAMS TO THE PUBLIC AS A COMPLEMENT TO ITS COMMUNITY EDUCATION PROGRAM AND OTHER ACTIVITIES. THESE MAY INCLUDE, FOR EXAMPLE, PARTNERING WITH A LOCAL ORGANIZATION TO PROVIDE CLASSES ON RESEARCH-SUPPORTED MIND AND BODY INTERVENTIONS, SUCH AS YOGA AND MEDITATION, TO SUPPORT OVERALL HEALTH AND WELLBEING. THESE CLASSES WILL BE PROVIDED TO THE PUBLIC FREE OF CHARGE OR AT A REDUCED COST. THE CENTER MAY PARTNER WITH SCHOOLS, NONPROFIT ORGANIZATIONS, OR COMMUNITY ORGANIZATIONS TO INCREASE THE ACCESS OF ITS EDUCATIONAL AND WELLNESS PROGRAMS TO THE COMMUNITY. REVENUE GENERATED BY THE CENTER WILL BE REINVESTED IN IMPROVING ITS FACILITIES AND EDUCATION. IF THE CENTERS REVENUE EXCEEDS THE NEEDS FOR THE CENTERS OWN PURPOSES, WHICH IS UNLIKELY, THE CENTER MAY CONSIDER MAKING A GRANT TO ANOTHER ORGANIZATION DESCRIBED IN CODE SECTION 501(C)(3) TO BE USED FOR CHARITABLE PURPOSES.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2024 | 2023 | Change | |
|---|---|---|---|
| Revenue | $215,548 | $25,000 | +7.6% |
| Expenses | N/A | N/A | N/A |
| Net Income | N/A | $25,000 | N/A |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| BRIDGET BLY | VICE CHAIR | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| ANTHONY BORMANN | MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| DALE HANDEEN | MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| CYNTHIA HUSE | MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| DAVID JERPSETH | MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| DEB MEYER | MEMBER | 2.00 |
Director
|
$0 | $0 | $0 |
| CONNOR PEOPLES | SECRETARY | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| DOUG PETERSON | CHAIRMAN | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| KRISTINE SHELSTAD | EXECUTIVE DI | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| KARIE SORKNES | TREASURER | 2.00 |
Officer
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $215,548 | No data | $163,958 | No data |
| 2023 | $25,000 | No data | $25,000 | No data |
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