Civic Intelligence

Minnesota Social Impact Center

990 • Fiscal year 2021 • EIN 27-0540267

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 17, 2022

825 Washington Ave SEMinneapolis, MN 55414

(651) 318-2800

Siviq Scores

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

Liabilities / Assets

95th percentile

1.01x

Higher debt load relative to assets than 95% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

91st percentile

0.58x

Higher debt load relative to revenue than 91% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

40th percentile

1.9%

Higher net margin than 40% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

97th percentile

$80,000

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 21.3% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

19th percentile

-19%

Faster asset growth than 19% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

61st percentile

19%

Faster revenue growth than 61% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Down

$217,353

Down $50,283 (-19%) from 2020

Net Assets

Up

-$1,119

Up $7,133 (+86%) from 2020

Liabilities

Down

$218,472

Down $57,416 (-21%) from 2020

Revenue

Up

$375,887

Up $59,320 (+19%) from 2020

Expenses

Down

$368,754

Down $28,973 (-7.3%) from 2020

Net Income

Up

$7,133

Up $88,293 (+109%) from 2020

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0-$200KAssets 2018: $626,773Liabilities 2018: $511,871Net Assets 2018: $114,9022018Assets 2020: $267,636Liabilities 2020: $275,888Net Assets 2020: -$8,2522020Assets 2021: $217,353Liabilities 2021: $218,472Net Assets 2021: -$1,1192021Assets 2022: $214,336Liabilities 2022: $188,638Net Assets 2022: $25,6982022Assets 2024: $224,299Liabilities 2024: $154,489Net Assets 2024: $69,8102024

Highlighted filing

2021

Assets$217,353
Liabilities$218,472
Net Assets-$1,119

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $1,024,193Expenses 2018: $1,000,634Net Income 2018: $23,5592018Revenue 2020: $316,567Expenses 2020: $397,727Net Income 2020: -$81,1602020Revenue 2021: $375,887Expenses 2021: $368,754Net Income 2021: $7,1332021Revenue 2022: $361,337Expenses 2022: $334,520Net Income 2022: $26,8172022Revenue 2024: $252,235Expenses 2024: $227,138Net Income 2024: $25,0972024

Highlighted filing

2021

Revenue$375,887
Expenses$368,754
Net Income$7,133
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 17, 2022
Return Version
2021v4.2
Gross Receipts
$375,887
Mission and Program Overview

Mission

Impact hub msp is dedicated to provide what today's impact innovators need to achieve their vision. Impact hub msp accelerates social impact by 1) curating experiences that activate economic participation, 2) cultivating peer learning and industry-to-industry collaboration, 3) building a state of the art physical space for entrepreneurs and innovators, 4) connecting to a global network of change makers as an impact hub.

Accelerate social impact achieved by entrepreneurs, creatives, and change makers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$33,250$121,000▲ $87,750
Pledges and Grants Receivable$96,902$50,000▼ $46,902
Cash and Non-Interest-Bearing Accounts$74,509$21,881▼ $52,628
Land, Buildings, and Equipment, Net$57,524$21,256▼ $36,268
Prepaid Expenses and Deferred Charges$5,451$3,216▼ $2,235
Total Assets$267,636$217,353▼ $50,283
Liabilities
Unsecured Notes Loans Payable$224,746$190,258▼ $34,488
Accounts Payable and Accrued Expenses$28,311$24,881▼ $3,430
Deferred Revenue$20,893$3,333▼ $17,560
Other Liabilities$1,938$0▼ $1,938
Total Liabilities$275,888$218,472▼ $57,416
Net Assets / Fund Balance
Net Assets With Donor Restrictions$143,333$76,667▼ $66,666
Net Assets Without Donor Restrictions$-151,585$-77,786▲ $73,799
Total Net Assets Fund Balance$-8,252$-1,119▲ $7,133
Total Liabilities and Net Assets / Fund Balance$267,636$217,353▼ $50,283

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$21,256$61,316$82,572
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Katie KalkmanExecutive DirectorPT$80,000$80,000

Board Members and Trustees

NameTitle
Kate DehmerBoard Chair
Ted CarlingVice Chair
Chris DykstraDirector
David LyDirector
Kayla Yang-bestDirector
Michelle MarynsSecretary
Judy JandroTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$236,838
Program Service Revenue
$139,049
Investment Income
$0
Other Revenue
$0
All Other Contributions
$145,110
Change in Net Assets
$7,133
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$195,377
Other Expenses$173,377
Total Fundraising Expense$8,676
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$67,305$24,797$2,362$94,464
Current Officers, Directors, Trustees, and Key Employees$57,000$21,000$2,000$80,000
Other Salaries and Wages$49,590$18,270$1,740$69,600
Depreciation Depletion$25,841$9,520$907$36,268
Payroll Taxes$19,801$7,295$695$27,791
Other Employee Benefits$12,815$4,721$450$17,986
Fees for Services Other$1,477$15,186-$16,663
Insurance$2,790$1,028$98$3,916
Information Technology$1,794$661$63$2,518
Other Expenses$1,044$385$37$1,466
Interest$788--$788
Advertising$299--$299
Office Expenses$105$39$4$148
Total Functional Expenses$253,805$106,273$8,676$368,754
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by an independent public accounting firm using information provided by the organization. Once a draft of the return is ready, all board members will receive a copy at a board meeting and will review and discuss before filing.

Form 990, Part VI, Section B, Line 12C

"the conflict of interest policy is directed at directors, officers, and all employees who can influence the actions of the minnesota social impact hub. This includes all who make purchasing decisions, all persons who might be described as 'management personnel and anyone who has proprietary information concerning the minnesota social hub. Disclosure in the organization should be made to the executive director (or, if she or he is the one with the conflict, then to the board chair), who shall bring the matter to the attention of the board or a duly constituted committee thereof. Disclosure involving directors should be made to the board chair (or, if she or he is the one with the conflict, then to the board secretary), who shall bring these matters to the board or a duly constituted committee thereof. The board, or a duly constituted committee thereof, shall determine whether a conflict exists and, in the case of an existing conflict, whether the contemplated transaction may be authorized as just, fair, and reasonable to minnesota social impact hub. The decision of the board or a duly constituted committee thereof on these matters will rest in their sole discretion, and their concern must be the welfare of the minnesota social impact hub and the advancement of its purpose."

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request to the board chair

Filing and Contact Details

Filer

Filer Name
Impact Hub Msp
EIN
27-0540267
Phone
6513182800
Address
825 WASHINGTON AVE SE, MINNEAPOLIS, MN 55414

Signing Officer

Name
Katie Kalkman
Title
Executive Director
Phone
6513182800
Signed
2022-06-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katie Kalkman
Formed
2009
Legal Domicile
Mn
Voting Board Members
7
Independent Board Members
7
Employees
7
Volunteers
32

Preparer

Firm
Carpenter Evert & Associates Ltd
Address
7760 FRANCE AVE S SUITE 940, BLOOMINGTON, MN 55435
Preparer
Neal Evert
Phone
9528310085
Raw XML AppendixShowing 400 of 411 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0ALTHOUGHT THE ORGANIZATION'S PUBLIC SUPPORT IS BELOW 33 1/3%, THE ORGANIZATION IS CONTINUING ITS STATUS AS A PUBLIC CHARITY SINCE IT METTS THE 10% FACTS AND CIRCUMSTANCES TEST. THE ORGANIZATION MAINTAINS ACTIVE COMMUNITY SUPPORT WHICH HAS SUCCESSFULLY ATTRACTED CONTRIBUTIONS FROM THE GENERAL PUBLIC. THE ORGANIZATION'S BOARD OF DIORECTORS REPRESENTS LEADERSHIP FROM AND OF THE COMMUNITY, AS WELL AS NON PROFIT MANAGMENT EXPERTISE. THE BOARD HAS BEEN DESIGNED BOTH TO FACILITATE INVOLVEMENT BY FUNDERS AND TO ENSURE ACCOUNTABILITY TO THE BOARD COMMUNITY THE ORGANIZATION SERVES. ALL OF THE ABOVE DEMONSTRATES THE ORGANIZATION CONTINUED ACTIVITIES TO INCREASE PUBLIC SUPPORT.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, SECTION C, LINE 17A, FACTS AND CIRCUMSTANCE TEST
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0236838
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0218989
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0246314
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0931565
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0199003
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01832709
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0185
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0187
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0139049
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt02
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0185
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0187
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.17460
IRS990ScheduleA/PublicSupportPY170Pct00.15070
IRS990ScheduleA/PublicSupportTotal170Amt0320033
IRS990ScheduleA/SubstantialContributorsTotAmt01512676
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0236838
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0218989
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0246314
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0931565
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0199003
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01832709
IRS990ScheduleA/TotalSupportAmt01833083
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt021256
IRS990ScheduleD/EquipmentGrp/DepreciationAmt061316
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt082572
IRS990ScheduleD/TotalBookValueLandBuildingsAmt021256
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PREPARED BY AN INDEPENDENT PUBLIC ACCOUNTING FIRM USING INFORMATION PROVIDED BY THE ORGANIZATION. ONCE A DRAFT OF THE RETURN IS READY, ALL BOARD MEMBERS WILL RECEIVE A COPY AT A BOARD MEETING AND WILL REVIEW AND DISCUSS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1"THE CONFLICT OF INTEREST POLICY IS DIRECTED AT DIRECTORS, OFFICERS, AND ALL EMPLOYEES WHO CAN INFLUENCE THE ACTIONS OF THE MINNESOTA SOCIAL IMPACT HUB. THIS INCLUDES ALL WHO MAKE PURCHASING DECISIONS, ALL PERSONS WHO MIGHT BE DESCRIBED AS 'MANAGEMENT PERSONNEL AND ANYONE WHO HAS PROPRIETARY INFORMATION CONCERNING THE MINNESOTA SOCIAL HUB. DISCLOSURE IN THE ORGANIZATION SHOULD BE MADE TO THE EXECUTIVE DIRECTOR (OR, IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD CHAIR), WHO SHALL BRING THE MATTER TO THE ATTENTION OF THE BOARD OR A DULY CONSTITUTED COMMITTEE THEREOF. DISCLOSURE INVOLVING DIRECTORS SHOULD BE MADE TO THE BOARD CHAIR (OR, IF SHE OR HE IS THE ONE WITH THE CONFLICT, THEN TO THE BOARD SECRETARY), WHO SHALL BRING THESE MATTERS TO THE BOARD OR A DULY CONSTITUTED COMMITTEE THEREOF. THE BOARD, OR A DULY CONSTITUTED COMMITTEE THEREOF, SHALL DETERMINE WHETHER A CONFLICT EXISTS AND, IN THE CASE OF AN EXISTING CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR, AND REASONABLE TO MINNESOTA SOCIAL IMPACT HUB. THE DECISION OF THE BOARD OR A DULY CONSTITUTED COMMITTEE THEREOF ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF THE MINNESOTA SOCIAL IMPACT HUB AND THE ADVANCEMENT OF ITS PURPOSE."
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST TO THE BOARD CHAIR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0267636
IRS990/TotalAssetsEOYAmt0217353
IRS990/TotalAssetsGrp/BOYAmt0267636
IRS990/TotalAssetsGrp/EOYAmt0217353
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0236838
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt08676
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0106273
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0253805
IRS990/TotalFunctionalExpensesGrp/TotalAmt0368754
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0275888
IRS990/TotalLiabilitiesEOYAmt0218472
IRS990/TotalLiabilitiesGrp/BOYAmt0275888
IRS990/TotalLiabilitiesGrp/EOYAmt0218472
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-8252
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1119
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0253805
IRS990/TotalProgramServiceRevenueAmt0139049
IRS990/TotalReportableCompFromOrgAmt080000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0139049
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0375887
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt032
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0267636
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0217353
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0224746
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0190258
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0825 WASHINGTON AVE SE
IRS990/USAddress/CityNm0MINNEAPOLIS
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055414
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0MINNEAPOLIS.IMPACTHUB.NET
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KATIE KALKMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06513182800
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-06-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IMPACT HUB MSP
ReturnHeader/Filer/BusinessNameControlTxt0IMPA
ReturnHeader/Filer/EIN0270540267
ReturnHeader/Filer/PhoneNum06513182800
ReturnHeader/Filer/USAddress/AddressLine1Txt0825 WASHINGTON AVE SE
ReturnHeader/Filer/USAddress/CityNm0MINNEAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055414
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411534805
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CARPENTER EVERT & ASSOCIATES LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07760 FRANCE AVE S SUITE 940
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BLOOMINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN

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