Civic Intelligence

Minnesota Economic Development Foundation

990EZ • Fiscal year 2024 • EIN 02-0684826

Jan 01, 2024 to Dec 31, 2024 • Filed on Oct 30, 2025

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

0.04x

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

82nd percentile

0.10x

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

72nd percentile

18%

Higher net margin than 72% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

59th percentile

7.0%

Faster asset growth than 59% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

82nd percentile

46%

Faster revenue growth than 82% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$183,153

Up $12,046 (+7.0%) from 2023

Net Assets

Up

$175,532

Up $13,520 (+8.3%) from 2023

Liabilities

Down

$7,621

Down $1,474 (-16%) from 2023

Revenue

Up

$73,468

Up $22,985 (+46%) from 2023

Expenses

Up

$59,950

Up $10,152 (+20%) from 2023

Net Income

Up

$13,518

Up $12,833 (+1873%) from 2023

Historical Trend

Balance Sheet Trend

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

2024

Assets$183,153
Liabilities$7,621
Net Assets$175,532

Operations Trend

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

2024

Revenue$73,468
Expenses$59,950
Net Income$13,518
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 30, 2025
Return Version
2024v5.2
Gross Receipts
$78,309
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 AMINNESOTA BASIC ECONOMIC DEVELOPMENT COURSE. THE CONTENT INCLUDED SESSIONS ON AN ECONOMIC DEVELOPMENTOVERVIEW, BUSINESS RETENTION AND EXPANSION, BUSINESS ATTRACTION AND MARKETING, ENTREPRENEURIAL AND SMALL BUSINESS DEVELOPMENT, RESEARCH AND ECONOMIC ANALYSIS, WORKFORCE DEVELOPMENT AND ATTRACTION, FINANCIAL ANDINCENTIVES, BUSINESS AND INDUSTRIAL PARK DEVELOPMENT, REAL ESTATE DEVELOPMENT, INDUSTRIAL REDEVELOPMENT, TRANSPORTATION AND UTILITIES,STRATEGIC PLANNING, MANAGING DEVELOPMENT ORGANIZATIONS, COMMUNITY ANDNEIGHBORHOOD DEVELOPMENT, AND ETHICS.$0$21,476
BUILDING STRONGER MINNESOTA COMMUNITIES THROUGH ECONOMIC DEVELOPMENT OUTREACH, EDUCATION, TRAINING AND RESEARCH INITIATIVES.$20,045$20,045
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
REBECCA KURTZChair-$0--
LESLIE DINGMANNVice Chair/Treasurer-$0--
TIM KORBYSecretary-$0--
KEITH DAHLDirector-$0--
MATT BROWNDirector-$0--
TOM LAMBRECHTDirector-$0--
SCOTT MARQUARDTDirector-$0--
HEIDI PEPERDirector-$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
2025-10-30

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: 949.

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

Activity classification: community internship grants. Grantee name: barnesville eda. Grantee address: po box 550 barnesville, mn 56514. Grantee relationship: none. Property description: cash. Amount given: 2,000.

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

Activity classification: community internship grants. Grantee name: boundary waters connect . Grantee address: po box 625 ely, mn 55731. Grantee relationship: none. Property description: cash. Amount given: 2,000.

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

Activity classification: community internship grants. Grantee name: city of duluth. Grantee address: 411 west first street duluth, mn 55806. Grantee relationship: none. Property description: cash. Amount given: 2,000.

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

Activity classification: community internship grants. Grantee name: itasca economic development corporation. Grantee address: 1201 se 7th ave grand rapids, mn 55744. Grantee relationship: none. Property description: cash. Amount given: 2,000.

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

Activity classification: iedc and terrell towers scholarships. Grantee name: multiple individuals. Grantee relationship: none. Property description: cash. Amount given: 4,045.

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

Activity classification: community internship grants. Grantee name: upper mn valley regional development commission. Grantee address: 323 w schlieman ave appleton, mn 56208. Grantee relationship: none. Property description: cash. Amount given: 2,000.

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

Activity classification: community internship grants. Grantee name: ottertail county . Grantee address: 520 w first ave fergus falls, mn 56537. Grantee relationship: none. Property description: cash. Amount given: 2,000.

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

Activity classification: community internship grants. Grantee name: rochester area economic development, inc. Grantee address: 221 first ave sw, suite 600 rochester, mn 55902. Grantee relationship: none. Property description: cash. Amount given: 2,000.

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

Activity classification: community internship grants. Grantee name: saint paul port authority. Grantee address: 400 wabasha street n, suite 240 saint paul, mn 55102. Grantee relationship: none. Property description: cash. Amount given: 2,000. Total included on form 990-ez, line 10: 20,045.

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

Description: website expense. Amount: 1,200. Description: miscellaneous. Amount: 404. Description: basic economic development course expenses. Amount: 21,476. Description: harrington admin expense. Amount: 14,570. Description: president's fund. Amount: 225. Total to form 990-ez, line 16: 37,875.

Form 990-ez, Part I, Line 20 - Other Changes in Net Assets

Description: prior period adjustment. Amount: 2.

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

Description: accounts payable. Beg. Of year amount: 9,095. End of year amount: 7,621.

Raw XML Appendix233 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/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt1MINNESOTA ECONOMIC DEVELOPMENT FOUNDATION HOSTED AMINNESOTA BASIC ECONOMIC DEVELOPMENT COURSE. THE CONTENT INCLUDED SESSIONS ON AN ECONOMIC DEVELOPMENTOVERVIEW, BUSINESS RETENTION AND EXPANSION, BUSINESS ATTRACTION AND MARKETING, ENTREPRENEURIAL AND SMALL BUSINESS DEVELOPMENT, RESEARCH AND ECONOMIC ANALYSIS, WORKFORCE DEVELOPMENT AND ATTRACTION, FINANCIAL ANDINCENTIVES, BUSINESS AND INDUSTRIAL PARK DEVELOPMENT, REAL ESTATE DEVELOPMENT, INDUSTRIAL REDEVELOPMENT, TRANSPORTATION AND UTILITIES,STRATEGIC PLANNING, MANAGING DEVELOPMENT ORGANIZATIONS, COMMUNITY ANDNEIGHBORHOOD DEVELOPMENT, AND ETHICS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: INTEREST. AMOUNT: 949.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: BARNESVILLE EDA. GRANTEE ADDRESS: PO BOX 550 BARNESVILLE, MN 56514. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 2,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: BOUNDARY WATERS CONNECT . GRANTEE ADDRESS: PO BOX 625 ELY, MN 55731. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 2,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: CITY OF DULUTH. GRANTEE ADDRESS: 411 WEST FIRST STREET DULUTH, MN 55806. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 2,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: ITASCA ECONOMIC DEVELOPMENT CORPORATION. GRANTEE ADDRESS: 1201 SE 7TH AVE GRAND RAPIDS, MN 55744. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 2,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ACTIVITY CLASSIFICATION: IEDC AND TERRELL TOWERS SCHOLARSHIPS. GRANTEE NAME: MULTIPLE INDIVIDUALS. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 4,045.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: UPPER MN VALLEY REGIONAL DEVELOPMENT COMMISSION. GRANTEE ADDRESS: 323 W SCHLIEMAN AVE APPLETON, MN 56208. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 2,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: OTTERTAIL COUNTY . GRANTEE ADDRESS: 520 W FIRST AVE FERGUS FALLS, MN 56537. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 2,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: ROCHESTER AREA ECONOMIC DEVELOPMENT, INC. GRANTEE ADDRESS: 221 FIRST AVE SW, SUITE 600 ROCHESTER, MN 55902. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 2,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9ACTIVITY CLASSIFICATION: COMMUNITY INTERNSHIP GRANTS. GRANTEE NAME: SAINT PAUL PORT AUTHORITY. GRANTEE ADDRESS: 400 WABASHA STREET N, SUITE 240 SAINT PAUL, MN 55102. GRANTEE RELATIONSHIP: NONE. PROPERTY DESCRIPTION: CASH. AMOUNT GIVEN: 2,000. TOTAL INCLUDED ON FORM 990-EZ, LINE 10: 20,045.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10DESCRIPTION: WEBSITE EXPENSE. AMOUNT: 1,200. DESCRIPTION: MISCELLANEOUS. AMOUNT: 404. DESCRIPTION: BASIC ECONOMIC DEVELOPMENT COURSE EXPENSES. AMOUNT: 21,476. DESCRIPTION: HARRINGTON ADMIN EXPENSE. AMOUNT: 14,570. DESCRIPTION: PRESIDENT'S FUND. AMOUNT: 225. TOTAL TO FORM 990-EZ, LINE 16: 37,875.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11DESCRIPTION: PRIOR PERIOD ADJUSTMENT. AMOUNT: 2.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12DESCRIPTION: ACCOUNTS PAYABLE. BEG. OF YEAR AMOUNT: 9,095. END OF YEAR AMOUNT: 7,621.
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 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9FORM 990-EZ, PART I, LINE 10 - GRANTS AND SIMILAR AMOUNTS PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11FORM 990-EZ, PART I, LINE 20 - OTHER CHANGES IN NET ASSETS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12FORM 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.
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0LESLIE DINGMANN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09529284640
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-30
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/PreparationDt02025-10-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ADAM KELLERHALS
ReturnHeader/ReturnTs02025-11-05T09:14:46-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$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