Civic Intelligence

Minnesota Economic Development Foundation

990EZ • Fiscal year 2022 • EIN 02-0684826

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 07, 2023

Organization ProfileWWW.MNEDF.ORG
4248 Park Glen RoadMinneapolis, MN 55416

(952) 928-4640

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.03x

Higher debt load relative to assets than 73% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

0.10x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

84th percentile

39%

Higher net margin than 84% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

72nd percentile

21%

Faster asset growth than 72% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

76th percentile

58%

Faster revenue growth than 76% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$167,118

Up $29,370 (+21%) from 2021

Net Assets

Up

$161,327

Up $23,579 (+17%) from 2021

Liabilities

Up

$5,791

Up $5,791 from 2021

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin84th percentile

Revenue

Up

$60,930

Up $22,440 (+58%) from 2021

Expenses

Down

$37,351

Down $15,583 (-29%) from 2021

Net Income

Up

$23,579

Up $38,023 (+263%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth72nd 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

2022

Assets$167,118
Liabilities$5,791
Net Assets$161,327
Open 2022 Filing

Operations Trend

Revenue Growth76th 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

2022

Revenue$60,930
Expenses$37,351
Net Income$23,579
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 7, 2023
Return Version
2022v5.0
Gross Receipts
$60,930
Mission and Program Overview

Mission

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

Program Services

DescriptionGrantsExpenses
BUILDING STRONGER MINNESOTA COMMUNITIES THROUGH ECONOMIC DEVELOPMENT OUTREACH, EDUCATION, TRAINING AND RESEARCH INITIATIVES.$16,220$16,220
MINNESOTA ECONOMIC DEVELOPMENT FOUNDATION HOSTED A MINNESOTA BASIC ECONOMIC DEVELOPMENT COURSE. THE COURSE WAS CONDUCTED VIRTUALLY AND IN-PERSON ON FIVE DAYS IN OCTOBER AND NOVEMBER 2022, WITH SEVERAL IN-PERSON COMMUNITY TOUR OPPORTUNITIES. THE CONTENT INCLUDED SESSIONS ON AN ECONOMIC DEVELOPMENT 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.$0$11,486
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
DAVID ANDERSONDirector-$0--
TIM KORBYSecretary-$0--
CRAIG WALDRONDirector-$0--
MILES SEPPELTDirector-$0--
REBECCA KURTZDirector-$0--
TOM LAMBRECHTDirector-$0--
LESLIE DINGMANNTreasurer-$0--
MATT BROWNChair-$0--
SCOTT MARQUARDTDirector-$0--
HEIDI PEPERDirector-$0--
JIM TERRELLDirector-$0--
SANDY VOIGTDirector-$0--
Filing and Contact Details

Filer

Filer Name
Minnesota Economic Development
EIN
02-0684826
Phone
9529284640
Address
4248 PARK GLEN ROAD, MINNEAPOLIS, MN 55416

Signing Officer

Name
Leslie Dingmann
Title
Treasurer
Phone
9529284640
Signed
2023-11-07

Preparer

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

Additional Explanations

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

“Description: interest. Amount: 390.”

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

“Activity classification: community internship grants. Grantee name: apex. Grantee address: 306 w superior st s, suite 902 duluth, mn 55802. Grantee relationship: none. Property description: cash. Amount given: 10,220.”

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. Amount given: 6,000. Total included on form 990-ez, line 10: 16,220.”

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

“Description: website expense. Amount: 780. Description: miscellaneous. Amount: 1,240. Description: basic economic development course expenses. Amount: 11,486. Description: harrington admin expense. Amount: 5,725. Total to form 990-ez, line 16: 19,231.”

Form 990-ez, Part II, Line 26 - Other Liabilities

“Description: accounts payable. Beg. Of year amount: 0. End of year amount: 5,791.”

Raw XML Appendix238 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.

Path#Value
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0DIRECTOR
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3DIRECTOR
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IRS990EZ/OperateHospitalInd00
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IRS990EZ/PrimaryExemptPurposeTxt0BUILDING A STRONGER MINNESOTA THROUGH EDUCATION, SCHOLARSHIPS/GRANTS, RESEARCH AND OUTREACH BASED INCENTIVES.
IRS990EZ/PrintingPublicationsPostageAmt0468
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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0BUILDING STRONGER MINNESOTA COMMUNITIES THROUGH ECONOMIC DEVELOPMENT OUTREACH, EDUCATION, TRAINING AND RESEARCH INITIATIVES.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1MINNESOTA ECONOMIC DEVELOPMENT FOUNDATION HOSTED A MINNESOTA BASIC ECONOMIC DEVELOPMENT COURSE. THE COURSE WAS CONDUCTED VIRTUALLY AND IN-PERSON ON FIVE DAYS IN OCTOBER AND NOVEMBER 2022, WITH SEVERAL IN-PERSON COMMUNITY TOUR OPPORTUNITIES. THE CONTENT INCLUDED SESSIONS ON AN ECONOMIC DEVELOPMENT 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.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: INTEREST. AMOUNT: 390.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: APEX. GRANTEE ADDRESS: 306 W SUPERIOR ST S, SUITE 902 DULUTH, MN 55802. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 10,220.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACTIVITY 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. AMOUNT GIVEN: 6,000. TOTAL INCLUDED ON FORM 990-EZ, LINE 10: 16,220.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DESCRIPTION: WEBSITE EXPENSE. AMOUNT: 780. DESCRIPTION: MISCELLANEOUS. AMOUNT: 1,240. DESCRIPTION: BASIC ECONOMIC DEVELOPMENT COURSE EXPENSES. AMOUNT: 11,486. DESCRIPTION: HARRINGTON ADMIN EXPENSE. AMOUNT: 5,725. TOTAL TO FORM 990-EZ, LINE 16: 19,231.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DESCRIPTION: ACCOUNTS PAYABLE. BEG. OF YEAR AMOUNT: 0. END OF YEAR AMOUNT: 5,791.
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 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES
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.
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LESLIE DINGMANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09529284640
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MINNESOTA ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0MINN
ReturnHeader/Filer/EIN0020684826
ReturnHeader/Filer/PhoneNum09529284640
ReturnHeader/Filer/USAddress/AddressLine1Txt04248 PARK GLEN ROAD
ReturnHeader/Filer/USAddress/CityNm0MINNEAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055416
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
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/PreparationDt02023-10-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ADAM KELLERHALS
ReturnHeader/ReturnTs02023-11-09T13:33:55-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LESLIE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DINGMANN
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$167,118
Liabilities
$5,791
Net assets
$161,327
Revenue
$60,930
Expenses
$37,351
Net income
$23,579
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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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