Minnesotans' Military Appreciation Fund

Nonprofit profile at a glance

EIN
201935180
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6123592516
Rating
60
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,899,578
Expenses
$378,024
Assets
$27,232,463
Liabilities
$35,076

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • GEN DENNIS SCHULSTAD (PRESIDENT &)

People named in this filing

  • KELLY BOSTON (ASSISTANT SE)
  • SKIP KRAWZCYK (TREASURER &)
  • GEN DENNIS SCHULSTAD (PRESIDENT &)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide financial assistance to Minnesota military personnel and their families who have served in a combat zone since september 11, 2001

What it reported doing in 2024

Since the inception of the fund, 23,983 grants have been paid. There have been 71 grants totaling 355,000 to the families of soldiers killed in combat and 539 grants totaling 1,078,500 to purple heart wounded soldiers. There have also been 27 grants totaling 54,000 to wounded soldiers that received multiple purple heart awards and 22,921 grants totaling 9,689,250 to soldiers who served in a combat zone. Additionally, pursuant to grant policy, upon medical documentation, a second grant of up to 9,000 was awarded to 425 wounded soldiers totaling 2,344,000.

Operating model

Revenue model
Donor-supported. 67% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 78% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 22
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 97
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 8.4%; rating input score 8
  • Program expense ratio: 38.5%; rating input score 38
  • Fundraising efficiency: $12.37 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 87%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 72.04; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -5.2% per year; rating input score 0; 5th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 12% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 8.4% of revenue deployed · 38.5% of spending went to programs
  • Governance: 4 of 4 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $145K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Financial Efficiency: Mission deployment rate scored 8/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 38/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.
  • High — Growth: Program expense growth scored 0/100.