Civic Intelligence

Red Wing Ignite

990 • Fiscal year 2021 • EIN 46-1469707

Jan 01, 2021 to Dec 31, 2021 • Filed on Mar 30, 2023

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

46th percentile

0.01x

Higher debt load relative to assets than 46% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

34th percentile

0.00x

Higher debt load relative to revenue than 34% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

32nd percentile

2.3%

Higher net margin than 32% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

86th percentile

$94,444

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 16.6% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

49th percentile

9.1%

Faster asset growth than 49% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

51st percentile

14%

Faster revenue growth than 51% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$108,970

Up $9,052 (+9.1%) from 2020

Net Assets

Up

$107,379

Up $13,044 (+14%) from 2020

Liabilities

Down

$1,591

Down $3,992 (-72%) from 2020

Revenue

Up

$567,525

Up $69,708 (+14%) from 2020

Expenses

Up

$554,481

Up $49,464 (+9.8%) from 2020

Net Income

Up

$13,044

Up $20,244 (+281%) 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$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

2021

Assets$108,970
Liabilities$1,591
Net Assets$107,379

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

2021

Revenue$567,525
Expenses$554,481
Net Income$13,044
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Mar 30, 2023
Return Version
2021v4.2
Gross Receipts
$567,525
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.

Advance innovation, technology, and entrereneurs to create a thriving community

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$92,720$105,105▲ $12,385
Land, Buildings, and Equipment, Net$7,198$3,527▼ $3,671
Prepaid Expenses and Deferred Charges-$338-
Total Assets$99,918$108,970▲ $9,052
Liabilities
Other Liabilities$5,583$1,591▼ $3,992
Total Liabilities$5,583$1,591▼ $3,992
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$94,335$107,379▲ $13,044
Total Net Assets Fund Balance$94,335$107,379▲ $13,044
Total Liabilities and Net Assets / Fund Balance$99,918$108,970▲ $9,052

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,527$29,035$32,562
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacy NimmoExecutive DirectorFT$85,000$9,444$94,444

Board Members and Trustees

NameTitle
Paul KrampBoard Chair
Tom DrazkowskiVice Chair
Atiq BhattiDirector
Tawonda BurksDirector
Beth BenikeSecretary
Matthew LessardTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$534,489
Program Service Revenue
$33,036
Investment Income
$0
Other Revenue
$0
All Other Contributions
$47,500
Change in Net Assets
$13,044
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$382,203
Salaries, Compensation, and Employee Benefits$172,278
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$282,656$1,750-$284,406
Current Officers, Directors, Trustees, and Key Employees$94,444--$94,444
Other Salaries and Wages$58,659--$58,659
Information Technology$23,091$715-$23,806
Advertising$8,088$3,730-$11,818
Conferences and Meetings$10,860$860-$11,720
Payroll Taxes$10,367--$10,367
Office Expenses$5,240$1,657-$6,897
Fees for Services Accounting$85$6,807-$6,892
Occupancy$5,394$142-$5,536
Insurance-$5,063-$5,063
Other Employee Benefits$3,756$750-$4,506
Pension Plan Contributions$4,302--$4,302
Depreciation Depletion$3,671--$3,671
All Other Expenses$633$1,431-$2,064
Travel$1,999$19-$2,018
Other Expenses$1,060$250-$1,060
Total Functional Expenses$530,497$23,984$0$554,481
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
Other Liabilities$1,591
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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 A, Line 8B

There are no committees with authority to act on behalf of the board of directors.

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

Members review form 990 before submission

Form 990, Part VI, Section B, Line 12

Each member must disclose any conflict of interest and sign document

Form 990, Part VI, Section C, Line 19

All forms available to public upon request

Filing and Contact Details

Filer

Filer Name
Red Wing Ignite
EIN
46-1469707
Phone
6513272115
Address
419 BUSH STREET, RED WING, MN 55066

Signing Officer

Name
Matthew Lessard
Title
Treasurer
Phone
6513272115
Signed
2023-03-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Lessard
Formed
2013
Legal Domicile
Mn
Voting Board Members
4
Independent Board Members
4
Employees
3
Volunteers
20

Preparer

Firm
Cliftonlarsonallen Llp
Address
2689 COMMERCE DRIVE NW SUITE 201, ROCHESTER, MN 55901
Preparer
Katherine Lutzke CPA
Phone
5072802300
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other fees: program service expenses 282,656. Management and general expenses 1,750. Fundraising expenses 0. Total expenses 284,406.

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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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IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0497817
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt013044
IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt033036
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0534489
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0457668
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0327648
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0190412
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt064945
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01575162
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt033036
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt022251
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt024403
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt017641
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt027472
IRS990ScheduleA/OtherIncome170Grp/TotalAmt091767
IRS990ScheduleA/PublicSupportCY170Pct00.90200
IRS990ScheduleA/PublicSupportPY170Pct00.54760
IRS990ScheduleA/PublicSupportTotal170Amt01503513
IRS990ScheduleA/SubstantialContributorsTotAmt071649
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0534489
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0457668
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0327648
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0190412
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt064945
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01575162
IRS990ScheduleA/TotalSupportAmt01666929
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/BookValueAmt03527
IRS990ScheduleD/EquipmentGrp/DepreciationAmt029035
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt032562
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01591
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OTHER LIABILITIES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03527
IRS990ScheduleD/TotalLiabilityAmt01591
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS REVIEW FORM 990 BEFORE SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH MEMBER MUST DISCLOSE ANY CONFLICT OF INTEREST AND SIGN DOCUMENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL FORMS AVAILABLE TO PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER FEES: PROGRAM SERVICE EXPENSES 282,656. MANAGEMENT AND GENERAL EXPENSES 1,750. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 284,406.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt099918
IRS990/TotalAssetsEOYAmt0108970
IRS990/TotalAssetsGrp/BOYAmt099918
IRS990/TotalAssetsGrp/EOYAmt0108970
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0534489
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt023984
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0530497
IRS990/TotalFunctionalExpensesGrp/TotalAmt0554481
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05583
IRS990/TotalLiabilitiesEOYAmt01591
IRS990/TotalLiabilitiesGrp/BOYAmt05583
IRS990/TotalLiabilitiesGrp/EOYAmt01591
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt094335
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0107379
IRS990/TotalOtherCompensationAmt09444
IRS990/TotalProgramServiceExpensesAmt0530497
IRS990/TotalProgramServiceRevenueAmt033036
IRS990/TotalReportableCompFromOrgAmt085000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt033036
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0567525
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt099918
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0108970
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt019
IRS990/TravelGrp/ProgramServicesAmt01999
IRS990/TravelGrp/TotalAmt02018
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0419 BUSH STREET
IRS990/USAddress/CityNm0RED WING
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055066
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.REDWINGIGNITE.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MATTHEW LESSARD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum06513272115
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-03-30
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RED WING IGNITE
ReturnHeader/Filer/BusinessNameControlTxt0REDW
ReturnHeader/Filer/EIN0461469707
ReturnHeader/Filer/PhoneNum06513272115
ReturnHeader/Filer/USAddress/AddressLine1Txt0419 BUSH STREET
ReturnHeader/Filer/USAddress/CityNm0RED WING
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055066
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02689 COMMERCE DRIVE NW SUITE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ROCHESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055901
ReturnHeader/PreparerPersonGrp/PhoneNum05072802300

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