Leadingage Minnesota Foundation
Nonprofit profile at a glance
- EIN
- 203879574
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Minneapolis, MN, USA
- Phone
- 6516454545
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Senior Centers
Reported finances
- Revenue
- $1,452,524
- Expenses
- $4,206,788
- Assets
- $6,965,289
- Liabilities
- $1,527,986
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- KARI THURLOW (PRESIDENT/CEO)
Highest reported compensation
- KARI THURLOW (PRESIDENT/CEO): $377,559 total reported compensation
- LORI MEYER (SR VP & COO): $281,741 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The foundation supports initiatives designed to transform and enhance the experience of aging. The focus is on: catalytic change in building the workforce for tomorrow; advancing new approaches to service delivery; and developing leadership for aging services organizations.
What it reported doing in 2024
Connected communities: supported by funding from the margaret a. Cargill philanthropies (macp), the foundation continued its work on the connected communities for healthy aging project. Two existing rural pilots were supported in order to advance integrated care systems across aging services, healthcare, and community supports. Assistance was provided to expand project scope and evaluate outcomes. Objectives included: convening and advancing local and collaborative whole system, whole person approaches to serving seniors in community; experimenting and improving care of medicare advantage enrollees in a local health plan in coordination with providers of primary care, acute- and post-acute care, home care, and community-based services; connecting consumers to local resources for healthier aging and reduced social isolation; implementing effective workforce strategies to support this collaborative model; and collecting data to show project impact and outcomes. Three additional communities were selected to begin the community design process.
Operating model
- Revenue model
- Earned-program. 79% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Grant intermediary. The nonprofit sent 70% of its reported program spending out as grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 86
- Transparency & Controls: 83
- Accountability: 84
- Sustainability: 27
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 90.4%; rating input score 90
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 88.9%; rating input score 89; 22nd percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -189.6%; rating input score 0; 0th percentile among comparable filings
- Total-asset coverage ratio: 1.66; rating input score 59; 59th percentile among comparable filings
- Liabilities to assets ratio: 0.22; rating input score 30; 30th percentile among comparable filings
- Officer compensation ratio: 3.4%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 18.4% per year; rating input score 100; 80th percentile among comparable filings
- Revenue growth: 14.5% per year; rating input score 100; 77th percentile among comparable filings
- Asset growth: 13.1% per year; rating input score 100; 68th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 90.4% of spending went to programs
- Governance: 8 of 9 board members independent · 7 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $3.8M in reported program spending
- Leadership: top reported pay $378K · 10 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 2 contractors listed · $853K reported
- Consistency: 34 of 34 current checks pass
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 13 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 9 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 0/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Sustainability: Total-asset coverage ratio scored 59/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 30/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.