Civic Intelligence

Minnesota Social Impact Center

990 • Fiscal year 2022 • EIN 27-0540267

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 13, 2023

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

93rd percentile

0.88x

Higher debt load relative to assets than 93% of similar nonprofits.

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

Liabilities / Revenue

92nd percentile

0.52x

Higher debt load relative to revenue than 92% of similar nonprofits.

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

Net Margin

54th percentile

7.4%

Higher net margin than 54% 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

44th percentile

-1.4%

Faster asset growth than 44% of similar nonprofits.

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

Revenue Growth

37th percentile

-3.9%

Faster revenue growth than 37% of similar nonprofits.

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

Assets

Down

$214,336

Down $3,017 (-1.4%) from 2021

Net Assets

Up

$25,698

Up $26,817 (+2397%) from 2021

Liabilities

Down

$188,638

Down $29,834 (-14%) from 2021

Revenue

Down

$361,337

Down $14,550 (-3.9%) from 2021

Expenses

Down

$334,520

Down $34,234 (-9.3%) from 2021

Net Income

Up

$26,817

Up $19,684 (+276%) from 2021

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

2022

Assets$214,336
Liabilities$188,638
Net Assets$25,698

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

2022

Revenue$361,337
Expenses$334,520
Net Income$26,817
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 13, 2023
Return Version
2022v5.0
Gross Receipts
$361,337
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
Cash and Non-Interest-Bearing Accounts$21,881$172,358▲ $150,477
Pledges and Grants Receivable$50,000--
Accounts Receivable$121,000$21,600▼ $99,400
Prepaid Expenses and Deferred Charges$3,216$11,211▲ $7,995
Land, Buildings, and Equipment, Net$21,256$9,167▼ $12,089
Total Assets$217,353$214,336▼ $3,017
Liabilities
Unsecured Notes Loans Payable$190,258$152,771▼ $37,487
Accounts Payable and Accrued Expenses$24,881$34,200▲ $9,319
Deferred Revenue$3,333$1,667▼ $1,666
Total Liabilities$218,472$188,638▼ $29,834
Net Assets / Fund Balance
Net Assets With Donor Restrictions$76,667$60,000▼ $16,667
Net Assets Without Donor Restrictions$-77,786$-34,302▲ $43,484
Total Net Assets Fund Balance$-1,119$25,698▲ $26,817
Total Liabilities and Net Assets / Fund Balance$217,353$214,336▼ $3,017

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$9,167$73,405$82,572
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kate DehmerBoard Chair
Miranda NollVice Chair
Ted CarlingVice Chair
Chris DykstraDirector
David LeeDirector
Kayla Yang-bestDirector
Ned Zimmerman-benceDirector
Katie KalkmanExecutive Director
Michelle MarynsSecretary
Judy JandroTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$169,873
Program Service Revenue
$191,464
Investment Income
$0
Other Revenue
$0
All Other Contributions
$169,873
Change in Net Assets
$26,817
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$183,646
Other Expenses$150,874
Total Fundraising Expense$8,017
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$67,597$24,904$2,372$94,873
Current Officers, Directors, Trustees, and Key Employees$57,000$21,000$2,000$80,000
Other Salaries and Wages$50,975$18,780$1,789$71,544
Other Employee Benefits$12,206$4,497$428$17,131
Payroll Taxes$10,667$3,930$374$14,971
Depreciation Depletion$8,614$3,173$302$12,089
Information Technology$4,680$1,724$164$6,568
Insurance$3,565$1,314$125$5,004
Fees for Services Other$698$3,041-$3,739
Fees for Services Accounting-$3,637-$3,637
Office Expenses$1,402$520$52$1,974
Other Expenses$1,179$435$41$1,655
Advertising$1,180--$1,180
Interest$169--$169
Total Functional Expenses$235,655$90,848$8,017$334,520
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
Backup withholding compliance
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
2023-07-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katie Kalkman
Formed
2009
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
8
Volunteers
29

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 424 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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IRS990/ReconcilationRevenueExpnssAmt026817
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0ALTHOUGH 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/CurrentTaxYearAmt0169873
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0236838
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0218989
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0246314
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0931565
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01803579
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0185
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0187
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0330513
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt02
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0185
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0187
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.18360
IRS990ScheduleA/PublicSupportPY170Pct00.17460
IRS990ScheduleA/PublicSupportTotal170Amt0331237
IRS990ScheduleA/SubstantialContributorsTotAmt01472342
IRS990ScheduleA/TenPctFactsCrcmstncsTestCYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0169873
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0236838
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0218989
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0246314
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0931565
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01803579
IRS990ScheduleA/TotalSupportAmt01803953
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/BookValueAmt09167
IRS990ScheduleD/EquipmentGrp/DepreciationAmt073405
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt082572
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09167
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/TotalAssetsBOYAmt0217353
IRS990/TotalAssetsEOYAmt0214336
IRS990/TotalAssetsGrp/BOYAmt0217353
IRS990/TotalAssetsGrp/EOYAmt0214336
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0169873
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt08017
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt090848
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0235655
IRS990/TotalFunctionalExpensesGrp/TotalAmt0334520
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0218472
IRS990/TotalLiabilitiesEOYAmt0188638
IRS990/TotalLiabilitiesGrp/BOYAmt0218472
IRS990/TotalLiabilitiesGrp/EOYAmt0188638
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1119
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt025698
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0235655
IRS990/TotalProgramServiceRevenueAmt0191464
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0191464
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0361337
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt029
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0217353
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0214336
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0190258
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0152771
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0825 WASHINGTON AVE SE
IRS990/USAddress/CityNm0MINNEAPOLIS
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055414
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0MINNEAPOLIS.IMPACTHUB.NET
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KATIE KALKMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06513182800
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IMPACT HUB MSP

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