Civic Intelligence

Minnesota Economic Development Foundation

990EZ • Fiscal year 2020 • EIN 02-0684826

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 03, 2021

Organization ProfileWWW.MNEDF.ORG
501 West St Germain Street No 10St Cloud, MN 56301

(320) 252-5247

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

90th percentile

55%

Higher net margin than 90% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

71st percentile

27%

Faster asset growth than 71% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

80th percentile

21%

Faster revenue growth than 80% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$152,192

Up $32,062 (+27%) from 2019

Net Assets

Up

$152,192

Up $32,062 (+27%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin90th percentile

Revenue

Up

$58,743

Up $10,273 (+21%) from 2019

Expenses

Down

$26,681

Down $8,571 (-24%) from 2019

Net Income

Up

$32,062

Up $18,844 (+143%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200K$150K$100K$50K$0Assets 2011: $160,651Liabilities 2011: $02011Assets 2012: $116,412Liabilities 2012: $02012Assets 2013: $83,398Liabilities 2013: $02013Assets 2014: $89,158Liabilities 2014: $02014Assets 2015: $86,918Liabilities 2015: $02015Assets 2016: $85,099Liabilities 2016: $02016Assets 2017: $109,943Liabilities 2017: $0Net Assets 2017: $109,9432017Assets 2018: $106,912Liabilities 2018: $02018Assets 2019: $120,130Liabilities 2019: $0Net Assets 2019: $120,1302019Assets 2020: $152,192Liabilities 2020: $0Net Assets 2020: $152,1922020Assets 2021: $137,748Liabilities 2021: $0Net Assets 2021: $137,7482021Assets 2022: $167,118Liabilities 2022: $5,791Net Assets 2022: $161,3272022Assets 2023: $171,107Liabilities 2023: $9,095Net Assets 2023: $162,0122023Assets 2024: $183,153Liabilities 2024: $7,621Net Assets 2024: $175,5322024

Highlighted filing

2020

Assets$152,192
Liabilities$0
Net Assets$152,192
Open 2020 Filing

Operations Trend

Revenue Growth80th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100K$50K$0-$50KRevenue 2011: $22,128Expenses 2011: $36,383Net Income 2011: -$14,2552011Revenue 2012: $1,988Expenses 2012: $46,227Net Income 2012: -$44,2392012Revenue 2013: $15,063Expenses 2013: $48,077Net Income 2013: -$33,0142013Revenue 2014: $32,116Expenses 2014: $26,356Net Income 2014: $5,7602014Revenue 2015: $23,341Expenses 2015: $25,581Net Income 2015: -$2,2402015Revenue 2016: $25,297Expenses 2016: $27,116Net Income 2016: -$1,8192016Revenue 2017: $43,943Expenses 2017: $19,099Net Income 2017: $24,8442017Revenue 2018: $21,899Expenses 2018: $24,930Net Income 2018: -$3,0312018Revenue 2019: $48,470Expenses 2019: $35,252Net Income 2019: $13,2182019Revenue 2020: $58,743Expenses 2020: $26,681Net Income 2020: $32,0622020Revenue 2021: $38,490Expenses 2021: $52,934Net Income 2021: -$14,4442021Revenue 2022: $60,930Expenses 2022: $37,351Net Income 2022: $23,5792022Revenue 2023: $50,483Expenses 2023: $49,798Net Income 2023: $6852023Revenue 2024: $73,468Expenses 2024: $59,950Net Income 2024: $13,5182024

Highlighted filing

2020

Revenue$58,743
Expenses$26,681
Net Income$32,062
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 3, 2021
Return Version
2020v4.1
Gross Receipts
$58,743
Mission and Program Overview

Mission

Building a stronger minnesota through education, scholarships/grants, research and outreach based incentives.

Program Services

DescriptionGrantsExpenses
MINNESOTA ECONOMIC DEVELOPMENT FOUNDATION HOSTED AN UPPER MIDWEST BASIC ECONOMIC DEVELOPMENT COURSE. THE COURSE WAS CONDUCTED VIRTUALLY DUE TO COVID-19 ON FOUR THURSDAYS IN OCTOBER. THE CONTENT INCLUDED SESSIONS ON AN ECONOMIC DEVELOMENT OVERVIEW, BUSINESS RETENTION AND EXPANSION, BUSINESS ATTRACTION AND MARKETING, ENTREPRENEURIAL AND SMALL BUSINESS DEVELOPMENT, RESEARCH AND ECONOMIC ANALYSIS, WORKFORCE DEVELOPMENT AND ATTRACTION, FINANCIAL AND INCENTIVES, BUSINESS AND INDUSTRIAL PARK DEVELOPMENT, REAL ESTATE DEVELOPMENT, INDUSTRIAL REDEVELOPMENT, TRANSPORTATION AND UTILITIES, STRATEGIC PLANNING, MANAGING DEVELOPMENT ORGANIZATIONS, COMMUNITY AND NEIGHBORHOOD DEVELOPMENT, AND ETHICS. THERE WERE 52 ATTENDEES, INCLUDING SEVERAL FROM THE AFRICAN AMERICAN, NATIVE AMERICAN AND ASIAN COMMUNITIES. THERE WERE 46 FROM MN, 4 FROM THE DAKOTAS AND ONE FROM VIRGINIA. THEY WERE FROM DIVERSE EDUCATIONAL BACKGROUNDS AND A VARIETY OF TYPES OF DEVELOPMENT ORGANIZATIONS. DUE TO SUCCESSFUL FUND RAISING FROM SPONSORS, $5,600 WAS AWARDED IN SCHOLARSHIPS TO HELP ENCOURAGE PARTICIPATION. THE SUCCESS OF THE BASIC E.D. COURSE HAD AFFIRMED MNEDF'S DESIRE TO HOLD THE COURSE AGAIN IN 2021.$5,600$23,706
BUILDING STRONGER MINNESOTA COMMUNITIES THROUGH ECONOMIC DEVELOPMENT OUTREACH, EDUCATION, TRAINING AND RESEARCH INITIATIVES.$1,250$1,250
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
DAVID ANDERSONDirector-$0--
JANNA KINGChair-$0--
JOHN CAMPOBASSODirector-$0--
PATRICK CONNOYDirector-$0--
MARK LOFTHUSDirector (Past Chair)-$0--
TIM KORBYSecretary-$0--
MICHAEL MULROONEYDirector-$0--
CRAIG WALDRONDirector-$0--
JOEL AKASONDirector-$0--
MILES SEPPELTDirector-$0--
REBECCA KURTZDirector-$0--
TOM LAMBRECHTDirector-$0--
Filing and Contact Details

Filer

Filer Name
Minnesota Economic Development
EIN
02-0684826
Phone
3202525247
Address
501 WEST ST GERMAIN STREET NO 10, ST CLOUD, MN 56301

Signing Officer

Name
Leslie Dingmann
Title
Treasurer
Phone
3202525247
Signed
2021-06-03

Preparer

Firm
Smith Schafer & Associates Ltd
Address
7500 HIGHWAY 55 SUITE 350, MINNEAPOLIS, MN 55427
Preparer
Dean Richards
Phone
9529201455
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 4 - Other Investment Income

“Description: interest. Amount: 1,301.”

Form 990-ez, Part I, Line 10 - Grants and Similar Amounts Paid

“Activity classification: bedc course scholarships. Grantee name: multiple individuals. Grantee relationship: none. Property description: cash. Amount given: 5,600.”

Form 990-ez, Part I, Line 10 - Grants and Similar Amounts Paid

“Activity classification: scholarship. Grantee name: economic development association of minnesota. Grantee address: 4248 park glen road minneapolis, mn 55416. Grantee relationship: none. Property description: cash. Amount given: 250.”

Form 990-ez, Part I, Line 10 - Grants and Similar Amounts Paid

“Activity classification: community internship grants. Grantee name: county of sherburne. Grantee address: 13880 business center drive nw, suite 100 elk river, mn 55330. Grantee relationship: none. Property description: cash. Date of gift: 08/27/20. Amount given: 1,000. Total included on form 990-ez, line 10: 6,850.”

Form 990-ez, Part I, Line 16 - Other Expenses

“Description: website expense. Amount: 780. Description: filing fee. Amount: 25. Description: miscellaneous. Amount: 50. Description: basic economic development course expenses. Amount: 18,156. Total to form 990-ez, line 16: 19,011.”

Raw XML Appendix236 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt6DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt7DIRECTOR
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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1MINNESOTA ECONOMIC DEVELOPMENT FOUNDATION HOSTED AN UPPER MIDWEST BASIC ECONOMIC DEVELOPMENT COURSE. THE COURSE WAS CONDUCTED VIRTUALLY DUE TO COVID-19 ON FOUR THURSDAYS IN OCTOBER. THE CONTENT INCLUDED SESSIONS ON AN ECONOMIC DEVELOMENT OVERVIEW, BUSINESS RETENTION AND EXPANSION, BUSINESS ATTRACTION AND MARKETING, ENTREPRENEURIAL AND SMALL BUSINESS DEVELOPMENT, RESEARCH AND ECONOMIC ANALYSIS, WORKFORCE DEVELOPMENT AND ATTRACTION, FINANCIAL AND INCENTIVES, BUSINESS AND INDUSTRIAL PARK DEVELOPMENT, REAL ESTATE DEVELOPMENT, INDUSTRIAL REDEVELOPMENT, TRANSPORTATION AND UTILITIES, STRATEGIC PLANNING, MANAGING DEVELOPMENT ORGANIZATIONS, COMMUNITY AND NEIGHBORHOOD DEVELOPMENT, AND ETHICS. THERE WERE 52 ATTENDEES, INCLUDING SEVERAL FROM THE AFRICAN AMERICAN, NATIVE AMERICAN AND ASIAN COMMUNITIES. THERE WERE 46 FROM MN, 4 FROM THE DAKOTAS AND ONE FROM VIRGINIA. THEY WERE FROM DIVERSE EDUCATIONAL BACKGROUNDS AND A VARIETY OF TYPES OF DEVELOPMENT ORGANIZATIONS. DUE TO SUCCESSFUL FUND RAISING FROM SPONSORS, $5,600 WAS AWARDED IN SCHOLARSHIPS TO HELP ENCOURAGE PARTICIPATION. THE SUCCESS OF THE BASIC E.D. COURSE HAD AFFIRMED MNEDF'S DESIRE TO HOLD THE COURSE AGAIN IN 2021.
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: INTEREST. AMOUNT: 1,301.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ACTIVITY CLASSIFICATION: BEDC COURSE SCHOLARSHIPS. GRANTEE NAME: MULTIPLE INDIVIDUALS. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 5,600.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACTIVITY CLASSIFICATION: SCHOLARSHIP. GRANTEE NAME: ECONOMIC DEVELOPMENT ASSOCIATION OF MINNESOTA. GRANTEE ADDRESS: 4248 PARK GLEN ROAD MINNEAPOLIS, MN 55416. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 250.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: COUNTY OF SHERBURNE. GRANTEE ADDRESS: 13880 BUSINESS CENTER DRIVE NW, SUITE 100 ELK RIVER, MN 55330. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. DATE OF GIFT: 08/27/20. AMOUNT GIVEN: 1,000. TOTAL INCLUDED ON FORM 990-EZ, LINE 10: 6,850.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DESCRIPTION: WEBSITE EXPENSE. AMOUNT: 780. DESCRIPTION: FILING FEE. AMOUNT: 25. DESCRIPTION: MISCELLANEOUS. AMOUNT: 50. DESCRIPTION: BASIC ECONOMIC DEVELOPMENT COURSE EXPENSES. AMOUNT: 18,156. TOTAL TO FORM 990-EZ, LINE 16: 19,011.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 4 - OTHER INVESTMENT INCOME
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY,OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT.THE ORGANIZATION, DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY,OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LESLIE DINGMANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03202525247
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-06-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MINNESOTA ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0MINN
ReturnHeader/Filer/EIN0020684826
ReturnHeader/Filer/PhoneNum03202525247
ReturnHeader/Filer/USAddress/AddressLine1Txt0501 WEST ST GERMAIN STREET NO 10
ReturnHeader/Filer/USAddress/CityNm0ST CLOUD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd056301
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411489071
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SMITH SCHAFER & ASSOCIATES LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07500 HIGHWAY 55 SUITE 350
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055427
ReturnHeader/PreparerPersonGrp/PhoneNum09529201455
ReturnHeader/PreparerPersonGrp/PreparationDt02021-06-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DEAN RICHARDS
ReturnHeader/ReturnTs02021-06-14T13:24:00-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LESLIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DINGMANN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$152,192
Liabilities
$0
Net assets
$152,192
Revenue
$58,743
Expenses
$26,681
Net income
$32,062
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.83$0.08$1.76$0.73$0.60$0.14
2023Detailed filing. Detailed filing data is available for this year.$1.71$0.09$1.62$0.50$0.50$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.67$0.06$1.61$0.61$0.37$0.24
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.38$0.00$1.38$0.38$0.53$0.14
2020Detailed filing. Detailed filing data is available for this year.$1.52$0.00$1.52$0.59$0.27$0.32
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$0.00$1.20$0.48$0.35$0.13
2018Summary only. Only limited summary data is available for this year.$1.07$0.00$0.22$0.25$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.10$0.00$1.10$0.44$0.19$0.25
2016Summary only. Only limited summary data is available for this year.$0.85$0.00$0.25$0.27$0.02
2015Summary only. Only limited summary data is available for this year.$0.87$0.00$0.23$0.26$0.02
2014Summary only. Only limited summary data is available for this year.$0.89$0.00$0.32$0.26$0.06
2013Summary only. Only limited summary data is available for this year.$0.83$0.00$0.15$0.48$0.33
2012Summary only. Only limited summary data is available for this year.$1.16$0.00$0.02$0.46$0.44
2011Summary only. Only limited summary data is available for this year.$1.61$0.00$0.22$0.36$0.14