Civic Intelligence

Red Wing Ignite

990 • Fiscal year 2020 • EIN 46-1469707

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

419 Bush StreetRed Wing, MN 55066

(651) 327-2115

Siviq Scores

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

Liabilities / Assets

71st percentile

0.06x

Higher debt load relative to assets than 71% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

62nd percentile

0.01x

Higher debt load relative to revenue than 62% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

37th percentile

-1.4%

Higher net margin than 37% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

32nd percentile

-5.6%

Faster asset growth than 32% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

86th percentile

41%

Faster revenue growth than 86% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$99,918

Down $5,966 (-5.6%) from 2019

Net Assets

Down

$94,335

Down $7,200 (-7.1%) from 2019

Liabilities

Up

$5,583

Up $1,234 (+28%) from 2019

Revenue

Up

$497,817

Up $145,766 (+41%) from 2019

Expenses

Up

$505,017

Up $216,836 (+75%) from 2019

Net Income

Down

-$7,200

Down $71,070 (-111%) from 2019

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2013: $41,998Liabilities 2013: $1,302Net Assets 2013: $40,6962013Assets 2014: $34,305Liabilities 2014: $2,271Net Assets 2014: $32,0342014Assets 2015: $79,005Liabilities 2015: $607Net Assets 2015: $78,3982015Assets 2016: $42,784Liabilities 2016: $834Net Assets 2016: $41,9502016Assets 2017: $25,192Liabilities 2017: $1,782Net Assets 2017: $23,4102017Assets 2018: $38,797Liabilities 2018: $1,132Net Assets 2018: $37,6652018Assets 2019: $105,884Liabilities 2019: $4,349Net Assets 2019: $101,5352019Assets 2020: $99,918Liabilities 2020: $5,583Net Assets 2020: $94,3352020Assets 2021: $108,970Liabilities 2021: $1,591Net Assets 2021: $107,3792021Assets 2022: $562,326Liabilities 2022: $48,514Net Assets 2022: $513,8122022Assets 2023: $698,557Liabilities 2023: $47,327Net Assets 2023: $651,2302023Assets 2024: $709,194Liabilities 2024: $48,026Net Assets 2024: $661,1682024

Highlighted filing

2020

Assets$99,918
Liabilities$5,583
Net Assets$94,335

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2013: $165,911Expenses 2013: $125,215Net Income 2013: $40,6962013Revenue 2014: $94,125Expenses 2014: $102,787Net Income 2014: -$8,6622014Revenue 2015: $148,883Expenses 2015: $102,519Net Income 2015: $46,3642015Revenue 2016: $92,075Expenses 2016: $128,523Net Income 2016: -$36,4482016Revenue 2017: $90,050Expenses 2017: $108,590Net Income 2017: -$18,5402017Revenue 2018: $208,053Expenses 2018: $193,798Net Income 2018: $14,2552018Revenue 2019: $352,051Expenses 2019: $288,181Net Income 2019: $63,8702019Revenue 2020: $497,817Expenses 2020: $505,017Net Income 2020: -$7,2002020Revenue 2021: $567,525Expenses 2021: $554,481Net Income 2021: $13,0442021Revenue 2022: $1,143,443Expenses 2022: $840,738Net Income 2022: $302,7052022Revenue 2023: $1,129,892Expenses 2023: $993,854Net Income 2023: $136,0382023Revenue 2024: $1,292,753Expenses 2024: $1,282,815Net Income 2024: $9,9382024

Highlighted filing

2020

Revenue$497,817
Expenses$505,017
Net Income-$7,200
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.1
Gross Receipts
$497,817
Mission and Program Overview

Mission

Red wing ignite is an organization that provides co-working space, business accelarator and a test bed environment for entrepreneurs, developers and small business. Our goal is to help provide the needed resources to help businesses grow and flourish in our community.

We advance innovation, technology, and entrereneurs by bringing together like-minded individuals to create a thriving community. We provide resources, networks, and needed expertise for students, startups, and businesses to succeed.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$95,827$92,720▼ $3,107
Land, Buildings, and Equipment, Net$10,057$7,198▼ $2,859
Total Assets$105,884$99,918▼ $5,966
Liabilities
Other Liabilities$4,349$5,583▲ $1,234
Total Liabilities$4,349$5,583▲ $1,234
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$101,535$94,335▼ $7,200
Total Net Assets Fund Balance$101,535$94,335▼ $7,200
Total Liabilities and Net Assets / Fund Balance$105,884$99,918▼ $5,966

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,198$25,364$32,562
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dave JonasChair
Adam GettingsVice Chair
Tom DrazkowskiDirector
Stacy NimmoExecutive Director
Tom WolnerSecretary
Paul KrampTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$475,566
Program Service Revenue
$22,251
Investment Income
$0
Other Revenue
$0
All Other Contributions
$87,945
Change in Net Assets
$-7,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$360,673
Salaries, Compensation, and Employee Benefits$138,268
Grants and Similar Amounts Paid$6,076
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$289,773--$289,773
Current Officers, Directors, Trustees, and Key Employees$47,168$31,446-$78,614
Other Salaries and Wages$49,828--$49,828
Office Expenses$9,458$4,658-$14,116
Advertising$12,802--$12,802
Information Technology$12,798--$12,798
Conferences and Meetings$7,227$3,559-$10,786
Payroll Taxes$7,468$2,358-$9,826
Grants to Domestic Orgs$6,076--$6,076
Fees for Services Accounting-$4,849-$4,849
Insurance$4,345--$4,345
Occupancy$3,422--$3,422
Depreciation Depletion$1,222$1,637-$2,859
Travel$880$434-$1,314
All Other Expenses$622--$622
Other Expenses$235--$235
Total Functional Expenses$456,076$48,941$0$505,017
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

Other Reported Liabilities

LiabilityAmount
Payroll Liabilites$3,147
Credit Card Liabilites$2,436
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 governing body review Part VI line 11

Members review form 990 before submission

Conflict of interest policy compliance Part VI line 12C

Each member must disclose any conflict of interest and sign document

Governing documents etc available to public Part VI line 19

All forms available to public upon request

Filing and Contact Details

Filer

Filer Name
Red Wing Ignite
EIN
46-1469707
Address
419 BUSH STREET, RED WING, MN 55066

Signing Officer

Name
Paul Kramp
Title
Treasurer
Phone
6513272115
Signed
2021-11-12
Discuss with paid preparer
Yes

Organization Details

Formed
2013
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
6
Employees
4
Volunteers
5

Preparer

Firm
Wentz Accounting & Tax Services Ltd
Address
1606 W 3rd Street, Red Wing, MN 55066
Preparer
Jeni Wentz
Phone
6518002200
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

Us ignite consulantants - 12,933marketing consultant - 11,583program contract service expense - 34,201

List of other expenses Part IX line 24E

Training expenses - 1,013bank charge expenses - 132

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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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IRS990/ProgSrvcAccomActy2Grp/Desc0ADVANCING OUR ENTREPRENEURS, STRENGTHENING OUR BUSINESS ENVIRONMENT, PARTNERING WITH REGIONAL, STATE, AND NATIONAL NETWORKS:- SERVED AS STATEWIDE HUB FOR US IGNITE AND NATIONAL SCIENCE FOUNDATION (IGNITE MN)- CREATED AND LAUNCHED AN AGRICULTURE TECH CHALLENGE- LED AND ORGANIZED A 11-COUNTY PILOT IN SOUTHERN MN- INTRODUCED 8 BUSINESSES TO GOLDEN TRIANGLE FUND- HOSTED 7 INVESTOR EVENTS AND MEETINGS- AWARDED THE FOLLOWING GRANTS FOR EXPANSION OF PROGRAMMING: I6 EDA FEDERAL GRANT, MN DEED GRANT FOR FUNDING A LEARN STARTUP SCHOOL. HELD AN AG-TECH CHALLENGE REVERSE PITCH COMPETITION AND NAMED A WINNER. FEATURED IN BUSINESS INSIDER AND HOSTED THOMAS FREIDMAN. SELECTED BY CENTER ON RURAL INNOVATION. TESTIFIED INFRONT OF CONGRESS REGARDING RURAL INNOVATION.
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt064945
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt092075
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01132748
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt022251
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt017641
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt027472
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt014551
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0106318
IRS990ScheduleA/PublicSupportCY170Pct00.54760
IRS990ScheduleA/PublicSupportPY170Pct00.53640
IRS990ScheduleA/PublicSupportTotal170Amt0678568
IRS990ScheduleA/SubstantialContributorsTotAmt0454180
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0190412
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt064945
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt092075
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01132748
IRS990ScheduleA/TotalSupportAmt01239066
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt025364
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt032562
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03147
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12436
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CREDIT CARD LIABILITES
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IRS990ScheduleD/TotalLiabilityAmt05583
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS REVIEW FORM 990 BEFORE SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH MEMBER MUST DISCLOSE ANY CONFLICT OF INTEREST AND SIGN DOCUMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL FORMS AVAILABLE TO PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3US IGNITE CONSULANTANTS - 12,933MARKETING CONSULTANT - 11,583PROGRAM CONTRACT SERVICE EXPENSE - 34,201
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TRAINING EXPENSES - 1,013BANK CHARGE EXPENSES - 132
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other fees for services expenses Part IX line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4List of other expenses Part IX line 24e
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IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt048941
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0456076
IRS990/TotalFunctionalExpensesGrp/TotalAmt0505017
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04349
IRS990/TotalLiabilitiesEOYAmt05583
IRS990/TotalLiabilitiesGrp/BOYAmt04349
IRS990/TotalLiabilitiesGrp/EOYAmt05583
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt094335
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0456076
IRS990/TotalProgramServiceRevenueAmt022251
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt022251
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0497817
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0105884
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt099918
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0434
IRS990/TravelGrp/ProgramServicesAmt0880
IRS990/TravelGrp/TotalAmt01314
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.REDWINGIGNITE.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PAUL KRAMP
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06513272115
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RED WING IGNITE
ReturnHeader/Filer/BusinessNameControlTxt0REDW
ReturnHeader/Filer/EIN0461469707
ReturnHeader/Filer/USAddress/AddressLine1Txt0419 BUSH STREET
ReturnHeader/Filer/USAddress/CityNm0RED WING
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055066
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0475254388
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Wentz Accounting & Tax Services Ltd
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01606 W 3rd Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Red Wing
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055066
ReturnHeader/PreparerPersonGrp/PhoneNum06518002200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jeni Wentz
ReturnHeader/ReturnTs02021-11-12T15:03:37-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PAUL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KRAMP
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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