NORSE HALL ASSOCIATION

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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

1925

Legal Domicile

Principal Officer

ERICA DODSON

Phone

5032363401

Tax Period

2024-01-01 to 2024-12-31

NORSE HALL ASSOCIATION, founded in 1925, is a small nonprofit that reported $188K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

MAINTAIN & OPERATE HISTORIC BUILDING

Program Service Accomplishments

Program 1

PROVIDED BUILDING SPACE TO SONS OF NORWAY MEMBERSHIP FOR THE YEAR TO HOLD THEIR FRATERNAL AND SOCIAL ACTIVITIES. MEMBERSHIP IS APPROXIMATELY 425 PEOPLE OF SCANDINAVIAN DESCENT OR INTEREST.

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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 $22,929

Program Service Revenue $164,985

Investment Income $66

Other Revenue $0

TOTAL REVENUE $187,980

Expense Breakdown

Grants Paid $5,050

Salaries & Benefits $76,867

Fundraising Expenses $0

Other Expenses $105,488

TOTAL EXPENSES $187,405

Year-over-Year Comparison

	2024	2023	Change
Revenue	$187,980	$160,132	+0.2%
Expenses	$187,405	$145,299	+0.3%
Net Income	$575	$14,833	-1.0%

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

Total Directors

$8,394

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVIS WHIPPLE	DIRECTOR	2.00	Director	$0	$0	$5,184
GEOFF SMITH	DIRECTOR	1.00	Director	$1,824	$0	$3,210
GARY GRAALUM	PRESIDENT	2.00	Officer Director	$0	$0	$0
ERICA DODSON	VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
JENNIFER JARDEE-BORQUIST	SECRETARY	2.00	Officer Director	$0	$0	$0
DARREL KING	TREASURER	4.00	Officer Director	$0	$0	$0
KIM APPLEBERRY	DIRECTOR	1.00	Director	$0	$0	$0
RONDA BUTLER	DIRECTOR	2.00	Director	$0	$0	$0
MARY KNUTSON SULLIVAN	EX OFFICIO	1.00	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	$187,980	$187,405	$236,675	$575
2023	$160,132	$145,299	$237,400	$14,833
2022	$130,492	$140,834	$222,117	$-10,342
2021	$88,115	$83,590	$234,259	$4,525
2020	$53,997	$65,044	$1,102,936	$-11,047
2018	$151,402	$157,398	$1,257,628	$-5,996