Civic Intelligence

Minnesota Social Impact Center

990 • Fiscal year 2023 • EIN 27-0540267

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

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

92nd percentile

0.74x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

0.50x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

65th percentile

12%

Higher net margin than 65% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

97th percentile

$80,000

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 25.6% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

43rd percentile

-2.1%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

30th percentile

-14%

Faster revenue growth than 30% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$209,876

Down $4,460 (-2.1%) from 2022

Net Assets

Up

$54,907

Up $29,209 (+114%) from 2022

Liabilities

Down

$154,969

Down $33,669 (-18%) from 2022

Revenue

Down

$311,938

Down $49,399 (-14%) from 2022

Expenses

Down

$273,899

Down $60,621 (-18%) from 2022

Net Income

Up

$38,039

Up $11,222 (+42%) from 2022

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 2023: $209,876Liabilities 2023: $154,969Net Assets 2023: $54,9072023Assets 2024: $224,299Liabilities 2024: $154,489Net Assets 2024: $69,8102024

Highlighted filing

2023

Assets$209,876
Liabilities$154,969
Net Assets$54,907

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 2023: $311,938Expenses 2023: $273,899Net Income 2023: $38,0392023Revenue 2024: $252,235Expenses 2024: $227,138Net Income 2024: $25,0972024

Highlighted filing

2023

Revenue$311,938
Expenses$273,899
Net Income$38,039
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$311,938
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$21,600$151,000▲ $129,400
Cash and Non-Interest-Bearing Accounts$172,358$46,196▼ $126,162
Prepaid Expenses and Deferred Charges$11,211$11,211→ $0
Land, Buildings, and Equipment, Net$9,167$1,469▼ $7,698
Total Assets$214,336$209,876▼ $4,460
Liabilities
Unsecured Notes Loans Payable$152,771$142,437▼ $10,334
Accounts Payable and Accrued Expenses$34,200$10,865▼ $23,335
Deferred Revenue$1,667$1,667→ $0
Total Liabilities$188,638$154,969▼ $33,669
Net Assets / Fund Balance
Net Assets With Donor Restrictions$60,000$0▼ $60,000
Net Assets Without Donor Restrictions$-34,302$54,907▲ $89,209
Total Net Assets Fund Balance$25,698$54,907▲ $29,209
Total Liabilities and Net Assets / Fund Balance$214,336$209,876▼ $4,460

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,469$81,103$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
Miranda NollVice Chair
Archana ShahDirector
Michelle MarynsDirector
Ned Zimmerman-benceDirector
Terri BarreiroSecretary
Judy JandroTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$263,631
Program Service Revenue
$48,207
Investment Income
$0
Other Revenue
$100
All Other Contributions
$236,639
Change in Net Assets
$38,039
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$145,630
Salaries, Compensation, and Employee Benefits$128,269
Total Fundraising Expense$6,199
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$57,428$21,158$2,015$80,601
Current Officers, Directors, Trustees, and Key Employees$57,000$21,000$2,000$80,000
Payroll Taxes$22,923$8,445$804$32,172
Fees for Services Other$3,393$14,783-$18,176
Other Salaries and Wages$11,469$4,226$402$16,097
Depreciation Depletion$5,485$2,020$192$7,697
Information Technology$3,336$1,229$117$4,682
Insurance$3,206$1,182$112$4,500
Interest$1,924--$1,924
Advertising$1,221--$1,221
Other Expenses$1,106$475$45$1,106
Fees for Services Accounting-$930-$930
Office Expenses$341$126$13$480
Total Functional Expenses$186,881$80,819$6,199$273,899
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
2024-11-14
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
5
Volunteers
25

Preparer

Firm
Carpenter Evert & Associates Ltd
Address
7760 FRANCE AVE S SUITE 940, BLOOMINGTON, MN 55435
Preparer
Neal Evert
Phone
9528310085
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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/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0185
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0187
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0378720
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0100
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt02
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0185
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0287
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.43750
IRS990ScheduleA/PublicSupportPY170Pct00.18360
IRS990ScheduleA/PublicSupportTotal170Amt0497033
IRS990ScheduleA/SubstantialContributorsTotAmt0638612
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0263631
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0169873
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0236838
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0218989
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0246314
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01135645
IRS990ScheduleA/TotalSupportAmt01136119
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/BookValueAmt01469
IRS990ScheduleD/EquipmentGrp/DepreciationAmt081103
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt082572
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01469
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/TotalAssetsBOYAmt0214336
IRS990/TotalAssetsEOYAmt0209876
IRS990/TotalAssetsGrp/BOYAmt0214336
IRS990/TotalAssetsGrp/EOYAmt0209876
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0263631
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06199
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt080819
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0186881
IRS990/TotalFunctionalExpensesGrp/TotalAmt0273899
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0188638
IRS990/TotalLiabilitiesEOYAmt0154969
IRS990/TotalLiabilitiesGrp/BOYAmt0188638
IRS990/TotalLiabilitiesGrp/EOYAmt0154969
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt025698
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt054907
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0186881
IRS990/TotalProgramServiceRevenueAmt048207
IRS990/TotalReportableCompFromOrgAmt080000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt048307
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0311938
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0214336
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0209876
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0152771
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0142437
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/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KATIE KALKMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06513182800
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
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/IRSResponsiblePrtyInfoCurrInd00
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
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055435
ReturnHeader/PreparerPersonGrp/PhoneNum09528310085
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NEAL EVERT
ReturnHeader/ReturnTs02024-11-15T13:31:50-06:00

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