FINLANDIA FOUNDATION NATIONAL INC

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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

1954

Legal Domicile

Tax Period

2023-01-01 to 2023-12-31

FINLANDIA FOUNDATION NATIONAL INC, founded in 1954, is a community nonprofit that reported $2.0M in total revenue in fiscal year 2023. Revenue surged 255% from the prior year, signaling strong growth momentum. The organization ran a surplus of $653K, a strong 33% operating margin.

Mission

SUPPORT, PRESERVE AND CULTIVATE FINNISH CULTURE IN THE UNITED STATES.

Program Service Accomplishments

Program 1

Expenses: $415,662 Revenue: $104,068

SAVING FINLAND IN AMERICA- ASSUMED THE RESPONSIBILTY OF THE FINNISH AMERICAN HERITAGE CENTER, FINLANDIA ART GALLERY, PRICE OF FREEDON MUSEUM, FINNISH AMERICAN FOLK SCHOOL, THE FINNISH AMERICAN...

SAVING FINLAND IN AMERICA- ASSUMED THE RESPONSIBILTY OF THE FINNISH AMERICAN HERITAGE CENTER, FINLANDIA ART GALLERY, PRICE OF FREEDON MUSEUM, FINNISH AMERICAN FOLK SCHOOL, THE FINNISH AMERICAN REPORTER AND NORTH WIND BOOKS.

Program 2

Expenses: $291,178

DONATE TO OTHER ORGANIZATIONS PROMOTING FINNISH CULTURAL AND EDUCATIONAL ACTIVITIES (20 ORGANIZATIONS SERVED)

Program 3

Expenses: $137,684

TO AWARD SCHOLARSHIPS AND GRANTS TO FINNISH-AMERICANS (36 INDIVIDUALS SERVED)

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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 $1,680,557

Program Service Revenue $21,791

Investment Income $244,044

Other Revenue $23,447

TOTAL REVENUE $1,969,839

Expense Breakdown

Grants Paid $401,000

Salaries & Benefits $394,584

Fundraising Expenses $36,713

Program Expenses $1,046,893

Other Expenses $521,700

TOTAL EXPENSES $1,317,284

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,969,839	$554,829	+2.6%
Expenses	$1,317,284	$688,483	+0.9%
Net Income	$652,555	$-133,654	-5.9%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TEUVO PULKKINEN	TRUSTEE	1.00	Director	$0	$0	$0
HANNA WAGNER	TRUSTEE	1.00	Director	$0	$0	$0
TIMOTHY NURVALA	TRUSTEE	1.00	Director	$0	$0	$0
EEVA SYVANEN	TRUSTEE	1.00	Director	$0	$0	$0
BETSEY NORGARD	TRUSTEE	1.00	Director	$0	$0	$0
ELLEN HARJU	TRUSTEE	1.00	Director	$0	$0	$0
TARJA SILVERMAN	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD AHOLA	TRUSTEE	1.00	Director	$0	$0	$0
JACQUELINE HARJULA	TRUSTEE	2.00	Director	$0	$0	$0
JARNO VANTO	TRUSTEE	0.00	Director	$0	$0	$0
HILARY VIRTANEN	TRUSTEE	0.50	Director	$0	$0	$0
MICHEL WENDELL	TRUSTEE	1.00	Director	$0	$0	$0
PETER MAKILA	TRUSTEE	1.00	Director	$0	$0	$0
KATARIINA LEHTONEN-HARRSKOG	TRUSTEE	1.00	Director	$0	$0	$0
JON JURVA	TRUSTEE	1.00	Director	$0	$0	$0
DIRK SCHULBACH	TREASURER	2.00	Officer Director	$0	$0	$0
PAUL O HALME	EXEC VICE PRESIDENT	1.00	Officer Director	$0	$0	$0
PAIVI TETRI	SECRETARY	1.00	Officer Director	$0	$0	$0
ANNE-MARI PASTER	PRESIDENT	2.00	Officer Director	$0	$0	$0
THOMAS FLANAGAN	EXECUTIVE DIRECTOR	40.00	Key Emp	$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	$1,969,839	$1,317,284	$4,537,675	$652,555
2022	$554,829	$688,483	$3,722,738	$-133,654
2021	$1,513,706	$553,272	$4,408,032	$960,434
2020	$654,643	$355,017	$3,263,975	$299,626
2019	$379,952	$467,070	$2,922,397	$-87,118