Mankato Area Foundation
Nonprofit profile at a glance
- EIN
- 410011094
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Mankato, MN, USA
- Phone
- 5073894583
- Rating
- 87
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $8,755,693
- Expenses
- $5,448,595
- Assets
- $35,969,140
- Liabilities
- $5,094,712
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
23 people listed
Executive titles in this filing
- Nancy Zallek (President & CEO)
Highest reported compensation
- Nancy Zallek (President & CEO): $150,501 total reported compensation
- Ashley Eimer (VP of Philanthropy): $117,708 total reported compensation
- Samantha Spicer (Finance Director): $87,118 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 Mankato Area Foundation is a trusted resource that connects donors with causes they care about, provides funding to enhance our region and serves as a collaborative community partner.
What it reported doing in 2024
The Foundation awarded grants through its Community Fund, designated funds, and donor-advised funds to enhance the livability and vibrancy of the Greater Mankato area. Additionally, the Consultant in Residency Fund provided critical support to nonprofit organizations by offering access to expert consulting services to strengthen their operations. Through strategic partnerships, resources, and community connections, the Foundation played a key role in supporting nonprofits as they worked to meet critical community needs.
Operating model
- Revenue model
- Donor-supported. 76% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 85% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 90
- Transparency & Controls: 78
- Accountability: 95
- Sustainability: 78
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 87.5%; rating input score 87
- Fundraising efficiency: $15.06 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.3%; rating input score 93; 17th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 86.8%; rating input score 87; 24th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- 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: 37.8%; rating input score 88; 88th percentile among comparable filings
- Total-asset coverage ratio: 6.6; rating input score 87; 87th percentile among comparable filings
- Liabilities to assets ratio: 0.14; rating input score 52; 52nd percentile among comparable filings
- Officer compensation ratio: 6.5%; rating input score 44; 44th percentile among comparable filings
Growth
- Program expense growth: 19.9% per year; rating input score 100; 85th percentile among comparable filings
- Revenue growth: 13.8% per year; rating input score 100; 79th percentile among comparable filings
- Asset growth: 14.5% per year; rating input score 100; 73rd percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 87.5% of spending went to programs
- Governance: 19 of 19 board members independent · 8 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $4.8M in reported program spending
- Leadership: top reported pay $151K · 23 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $294K reported
- Consistency: 32 of 33 current checks pass · 1 finding to review
- Schedules: 8 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 103 filed money-flow records
- Related organizations: 99 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.
- Review — Financial Efficiency: Fundraising efficiency scored 51/100.
- Review — Accountability: Governance controls: Other executive compensation review process not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Moderate — Sustainability: Officer compensation ratio scored 44/100.
- Review — Sustainability: Liabilities to assets ratio scored 52/100.