Civic Intelligence

Minnesota Technology Education Corporation

990 • Fiscal year 2021 • EIN 41-2009866

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 11, 2021

Organization ProfileN/A
1808 Riverside Avenue South No 20Minneapolis, MN 55454

(612) 333-9164

Siviq Scores

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

Liabilities / Assets

88th percentile

0.66x

Higher debt load relative to assets than 88% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

95th percentile

4.15x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

53rd percentile

14%

Higher net margin than 53% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

29th percentile

0.7%

Faster asset growth than 29% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

32nd percentile

-0.1%

Faster revenue growth than 32% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$2,076,763

Up $14,955 (+0.7%) from 2020

Net Assets

Up

$711,214

Up $46,877 (+7.1%) from 2020

Liabilities

Down

$1,365,549

Down $31,922 (-2.3%) from 2020

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin53rd percentile

Revenue

Down

$329,140

Down $283 (-0.1%) from 2020

Expenses

Up

$282,263

Up $32,332 (+13%) from 2020

Net Income

Down

$46,877

Down $32,615 (-41%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth29th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,054,729Liabilities 2011: $988,330Net Assets 2011: $66,3992011Assets 2012: $1,015,649Liabilities 2012: $926,515Net Assets 2012: $89,1342012Assets 2013: $1,018,254Liabilities 2013: $866,904Net Assets 2013: $151,3502013Assets 2014: $1,022,287Liabilities 2014: $804,856Net Assets 2014: $217,4312014Assets 2015: $1,017,557Liabilities 2015: $739,856Net Assets 2015: $277,7012015Assets 2016: $1,035,965Liabilities 2016: $676,358Net Assets 2016: $359,6072016Assets 2017: $1,041,054Liabilities 2017: $603,362Net Assets 2017: $437,6922017Assets 2018: $1,061,220Liabilities 2018: $526,825Net Assets 2018: $534,3952018Assets 2019: $1,075,241Liabilities 2019: $490,396Net Assets 2019: $584,8452019Assets 2020: $2,061,808Liabilities 2020: $1,397,471Net Assets 2020: $664,3372020Assets 2021: $2,076,763Liabilities 2021: $1,365,549Net Assets 2021: $711,2142021Assets 2022: $2,097,462Liabilities 2022: $1,320,704Net Assets 2022: $776,7582022Assets 2023: $2,109,659Liabilities 2023: $1,274,321Net Assets 2023: $835,3382023Assets 2024: $2,131,125Liabilities 2024: $1,225,710Net Assets 2024: $905,4152024Assets 2025: $2,146,583Liabilities 2025: $1,152,259Net Assets 2025: $994,3242025

Highlighted filing

2021

Assets$2,076,763
Liabilities$1,365,549
Net Assets$711,214
Open 2021 Filing

Operations Trend

Revenue Growth32nd percentile

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

$400K$300K$200K$100K$0Expenses 2011: $142,1632011Revenue 2012: $199,391Expenses 2012: $176,656Net Income 2012: $22,7352012Expenses 2013: $136,9932013Revenue 2014: $205,188Expenses 2014: $139,107Net Income 2014: $66,0812014Revenue 2015: $211,357Expenses 2015: $151,087Net Income 2015: $60,2702015Revenue 2016: $217,786Expenses 2016: $135,880Net Income 2016: $81,9062016Revenue 2017: $224,389Expenses 2017: $146,304Net Income 2017: $78,0852017Revenue 2018: $231,378Expenses 2018: $134,678Net Income 2018: $96,7002018Revenue 2019: $238,884Expenses 2019: $188,434Net Income 2019: $50,4502019Revenue 2020: $329,423Expenses 2020: $249,931Net Income 2020: $79,4922020Revenue 2021: $329,140Expenses 2021: $282,263Net Income 2021: $46,8772021Revenue 2022: $329,143Expenses 2022: $263,599Net Income 2022: $65,5442022Revenue 2023: $332,414Expenses 2023: $271,053Net Income 2023: $61,3612023Revenue 2024: $341,608Expenses 2024: $271,531Net Income 2024: $70,0772024Revenue 2025: $337,346Expenses 2025: $261,517Net Income 2025: $75,8292025

Highlighted filing

2021

Revenue$329,140
Expenses$282,263
Net Income$46,877
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 11, 2021
Return Version
2020v4.1
Gross Receipts
$329,140
Mission and Program Overview

Mission

The corporation is organized and operated exclusively for charitable and educational purposes. To acquire, manage and maintain real and personal property for use by the school in its charitable purposes.

To manage and maintain a building to be used for a charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,652,912$1,625,062▼ $27,850
Savings and Temporary Cash Investments$189,318$216,470▲ $27,152
Cash and Non-Interest-Bearing Accounts$29,253$66,931▲ $37,678
Accounts Receivable-$7,349-
Total Assets$2,061,808$2,076,763▲ $14,955
Other Assets Total$190,325$160,951▼ $29,374
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,382,362$1,364,988▼ $17,374
Accounts Payable and Accrued Expenses$15,109$561▼ $14,548
Total Liabilities$1,397,471$1,365,549▼ $31,922
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$664,337$711,214▲ $46,877
Total Net Assets Fund Balance$664,337$711,214▲ $46,877
Total Liabilities and Net Assets / Fund Balance$2,061,808$2,076,763▲ $14,955

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,375,062$1,175,647$2,550,709
Land$250,000-$250,000
Other Assets Org$160,951--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Kent RobbinsPresident
Jon WestbyVice-president
Brian ErlandsonDirector
Mark HotzlerDirector
Sally WestbyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$329,116
Investment Income
$24
Other Revenue
$0
Change in Net Assets
$46,877

Audited Revenue Reconciliation

Revenue per Audited Statements
$329,140
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$329,140
Total Revenue per Form 990
$329,140
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$282,263
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$160,743--$160,743
Occupancy$107,564--$107,564
Fees for Services Management$8,088--$8,088
Fees for Services Accounting-$5,150-$5,150
Other Expenses-$323-$323
Office Expenses-$53-$53
Total Functional Expenses$276,395$5,868$0$282,263

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$282,263
Total Expenses per Audited Statements$282,263
Total Expenses per Form 990$282,263
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMinneapolis Community Planning and Economic Development Agency2019-06-26$1,500,000Revenue bond for building

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$1,500,000$253,013--

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Sally and john westby are husband and wife.”

Form 990, Part VI, Section A, Line 3

“Duties relating to property management services were delegated to mutual management company, a community based non-profit corporation.”

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

“Form 990 is reviewed by the president of hte board of directors before it is signed and filed with the irs.”

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

“The board members receive and sign a conflict of interest policy each year.”

Form 990, Part VI, Section C, Line 19

“All documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Minnesota Technology Education
EIN
41-2009866
Phone
6123339164
Address
1808 RIVERSIDE AVENUE SOUTH NO 20, MINNEAPOLIS, MN 55454

Signing Officer

Name
Kent Robbins
Title
President of the Board
Phone
6123339164
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kent Robbins
Formed
2001
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Mahoneyulbrichchristiansen & Russ Pa
Address
10 RIVER PARK PLAZA SUITE 800, SAINT PAUL, MN 55107
Preparer
Marc a Kotsonas
Phone
6512276695
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Mtec is exempt from income taxes under internal revenue code section 501(c)(3) and applicable minnesota statutes, except to the extent it has taxable income that is not related to its tax exempt purpose. Mtec did not have any unrelated business income in 2021 or 2020. Management believes mtec has appropriate support for any tax positions taken, and accordingly, does not have any uncertain tax positions. In addition, mtec has been classified as an organization other than a private foundation under section 509(a)(3) which operates exclusively for the benefit of another nonprofit organization.”

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/ExplanationTxt0THE CONTRACTED MANAGEMENT COMPANY WORKS CLOSELY WITH THE BOARD AND THE SUPPORTED ORGANIZATION.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE ONLY ACTIVITY WAS MTEC OWNED AND OPERATED THE BUILDING THAT THE SUPPORTING ORGANIZATION WAS LOCATED IN.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION D, LINE 2:
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION E, LINE 2A:
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MTEC IS EXEMPT FROM INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND APPLICABLE MINNESOTA STATUTES, EXCEPT TO THE EXTENT IT HAS TAXABLE INCOME THAT IS NOT RELATED TO ITS TAX EXEMPT PURPOSE. MTEC DID NOT HAVE ANY UNRELATED BUSINESS INCOME IN 2021 OR 2020. MANAGEMENT BELIEVES MTEC HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND ACCORDINGLY, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. IN ADDITION, MTEC HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(3) WHICH OPERATES EXCLUSIVELY FOR THE BENEFIT OF ANOTHER NONPROFIT ORGANIZATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SALLY AND JOHN WESTBY ARE HUSBAND AND WIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DUTIES RELATING TO PROPERTY MANAGEMENT SERVICES WERE DELEGATED TO MUTUAL MANAGEMENT COMPANY, A COMMUNITY BASED NON-PROFIT CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED BY THE PRESIDENT OF HTE BOARD OF DIRECTORS BEFORE IT IS SIGNED AND FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD MEMBERS RECEIVE AND SIGN A CONFLICT OF INTEREST POLICY EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
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IRS990/TotalEmployeeCnt00
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT OF THE BOARD
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,076,763
Liabilities
$1,365,549
Net assets
$711,214
Revenue
$329,140
Expenses
$282,263
Net income
$46,877
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.15$1.15$0.99$0.34$0.26$0.08
2024Detailed filing. Detailed filing data is available for this year.$2.13$1.23$0.91$0.34$0.27$0.07
2023Detailed filing. Detailed filing data is available for this year.$2.11$1.27$0.84$0.33$0.27$0.06
2022Detailed filing. Detailed filing data is available for this year.$2.10$1.32$0.78$0.33$0.26$0.07
2021Detailed filing. Detailed filing data is available for this year.$2.08$1.37$0.71$0.33$0.28$0.05
2020Detailed filing. Detailed filing data is available for this year.$2.06$1.40$0.66$0.33$0.25$0.08
2019Detailed filing. Detailed filing data is available for this year.$1.08$0.49$0.58$0.24$0.19$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.06$0.53$0.53$0.23$0.13$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.04$0.60$0.44$0.22$0.15$0.08
2016Detailed filing. Detailed filing data is available for this year.$1.04$0.68$0.36$0.22$0.14$0.08
2015Detailed filing. Detailed filing data is available for this year.$1.02$0.74$0.28$0.21$0.15$0.06
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.80$0.22$0.21$0.14$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.02$0.87$0.15$0.14
2012Summary only. Only limited summary data is available for this year.$1.02$0.93$0.09$0.20$0.18$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$0.99$0.07$0.14