Civic Intelligence

Red Wing Ignite

990 • Fiscal year 2023 • EIN 46-1469707

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 28, 2024

Organization ProfileWWW.REDWINGIGNITE.ORG

View Organization Page

419 Bush StreetRed Wing, MN 55066

(651) 327-2626

Siviq Scores

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

Liabilities / Assets

51st percentile

0.07x

Higher debt load relative to assets than 51% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

39th percentile

0.04x

Higher debt load relative to revenue than 39% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

65th percentile

12%

Higher net margin than 65% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

70th percentile

$105,164

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

79th percentile

24%

Faster asset growth than 79% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

36th percentile

-1.2%

Faster revenue growth than 36% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets51st percentile

Assets

Up

$698,557

Up $136,231 (+24%) from 2022

Net Assets

Up

$651,230

Up $137,418 (+27%) from 2022

Liabilities

Down

$47,327

Down $1,187 (-2.4%) from 2022

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin65th percentile

Revenue

Down

$1,129,892

Down $13,551 (-1.2%) from 2022

Expenses

Up

$993,854

Up $153,116 (+18%) from 2022

Net Income

Down

$136,038

Down $166,667 (-55%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

2023

Assets$698,557
Liabilities$47,327
Net Assets$651,230
Open 2023 Filing

Operations Trend

Revenue Growth36th percentile

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

2023

Revenue$1,129,892
Expenses$993,854
Net Income$136,038
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 28, 2024
Return Version
2023v5.1
Gross Receipts
$1,129,892
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.

Red wing ignite supports economic development and technological advancement in the eleven counties of se minnesota. We provide resources, support, education and networking opportunities to students, startups and entrepreneurs. Our mission is to create a thriving ecosystem that encourages innovation, job creation and sustainable growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$114,030$365,743▲ $251,713
Pledges and Grants Receivable$407,230$302,305▼ $104,925
Land, Buildings, and Equipment, Net$27,089$23,793▼ $3,296
Prepaid Expenses and Deferred Charges$5,000$5,228▲ $228
Accounts Receivable$8,977$1,488▼ $7,489
Total Assets$562,326$698,557▲ $136,231
Liabilities
Accounts Payable and Accrued Expenses$45,480$32,888▼ $12,592
Other Liabilities$3,034$13,779▲ $10,745
Deferred Revenue-$660-
Total Liabilities$48,514$47,327▼ $1,187
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$513,812$634,023▲ $120,211
Net Assets With Donor Restrictions-$17,207-
Total Net Assets Fund Balance$513,812$651,230▲ $137,418
Total Liabilities and Net Assets / Fund Balance$562,326$698,557▲ $136,231

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$23,793$31,470$55,263
Compensation and Service Providers
Top Officer Pay70th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacy NimmoExecutive DirectorFT$99,930$5,234$105,164

Board Members and Trustees

NameTitle
Tom DrazkowskiBoard Chair
Paul KrampVice President
Atiq BhattiDirector
Brian CarlsonDirector
Tawonda BurksDirector
Beth BenikeSecretary
Matthew LessardTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,082,802
Program Service Revenue
$43,139
Investment Income
$0
Other Revenue
$3,951
All Other Contributions
$134,521
Change in Net Assets
$136,038

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,129,892
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$195,519
Total Revenue per Audited Statements
$1,325,411
Total Revenue per Form 990
$1,129,892
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$526,899
Other Expenses$466,955
Total Fundraising Expense$6,400
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$325,062$26,899-$351,961
Fees for Services Other$286,337$6,050$6,400$298,787
Current Officers, Directors, Trustees, and Key Employees$105,164--$105,164
Fees for Services Accounting$8,400$40,816-$49,216
Office Expenses$37,688$4,850-$42,538
Payroll Taxes$32,147$2,034-$34,181
Other Employee Benefits$29,976$2,162-$32,138
Travel$15,635$3,301-$18,936
Occupancy$17,075--$17,075
Information Technology$7,780$421-$8,201
Conferences and Meetings$4,957$2,292-$7,249
Depreciation Depletion-$6,172-$6,172
Advertising-$5,591-$5,591
Pension Plan Contributions$3,187$268-$3,455
Insurance-$2,960-$2,960
Other Expenses$1,423$1,364-$2,787
Total Functional Expenses$882,274$105,180$6,400$993,854

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,189,373
Expenses per Audited Statements$993,854
Total Expenses per Form 990$993,854
Expenses Not Reported on Form 990$195,519
Expenses Not Reported on Financial Statements$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

Other Reported Liabilities

LiabilityAmount
Fiscal Agent Pass Through$13,779
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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 12C

“Each member reviews updates and signs conflict of interest policy on an annual basis. Potential conflicts of interest are brought up during board meetings when and if they occur.”

Form 990, Part VI, Section B, Line 15A

“Wages are compared to mn council of nonprofits wage study, o*net for our area along with comparable open job postings at other similar sized nonprofits in outstate and se minnesota. The process described here was last completed in 2023.”

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
6513272626
Address
419 BUSH STREET, RED WING, MN 55066

Signing Officer

Name
Matthew Lessard
Title
Treasurer
Phone
6513272626
Signed
2024-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Lessard
Formed
2013
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
7
Volunteers
30

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

“Contracted services: program service expenses 286,337. Management and general expenses 6,050. Fundraising expenses 6,400. Total expenses 298,787.”

Financial Statement Notes

PART X, LINE 2:

“The organization is exempt from federal and state income taxes as an organization described in section 501(c)(3) of the internal revenue code. The organization has evaluated its tax positions and has determined it has no uncertain tax positions as of december 31, 2023.”

Raw XML AppendixShowing 400 of 434 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt045480
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt032888
IRS990/AccountsReceivableGrp/BOYAmt08977
IRS990/AccountsReceivableGrp/EOYAmt01488
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0RED WING IGNITE SUPPORTS ECONOMIC DEVELOPMENT AND TECHNOLOGICAL ADVANCEMENT IN THE ELEVEN COUNTIES OF SE MINNESOTA. WE PROVIDE RESOURCES, SUPPORT, EDUCATION AND NETWORKING OPPORTUNITIES TO STUDENTS, STARTUPS AND ENTREPRENEURS. OUR MISSION IS TO CREATE A THRIVING ECOSYSTEM THAT ENCOURAGES INNOVATION, JOB CREATION AND SUSTAINABLE GROWTH.
IRS990/AdvertisingGrp/ManagementAndGeneralAmt05591
IRS990/AdvertisingGrp/TotalAmt05591
IRS990/AllOtherContributionsAmt0134521
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0ELLEN HUTCHINSON
IRS990/BooksInCareOfDetail/PhoneNum06513272115
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0419 BUSH ST
IRS990/BooksInCareOfDetail/USAddress/CityNm0RED WING
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MN
IRS990/BooksInCareOfDetail/USAddress/ZIPCd055066
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0114030
IRS990/CashNonInterestBearingGrp/EOYAmt0365743
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt0105164
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0105164
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt02292
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt04957
IRS990/ConferencesMeetingsGrp/TotalAmt07249
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt01082802
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt0466955
IRS990/CYOtherRevenueAmt03951
IRS990/CYProgramServiceRevenueAmt043139
IRS990/CYRevenuesLessExpensesAmt0136038
IRS990/CYSalariesCompEmpBnftPaidAmt0526899
IRS990/CYTotalExpensesAmt0993854
IRS990/CYTotalFundraisingExpenseAmt06400
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt01129892
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/EOYAmt0660
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt06172
IRS990/DepreciationDepletionGrp/TotalAmt06172
IRS990/Desc0WE SERVE ENTREPRENEURS WITH EDUCATION, RESOURCES AND CONNECTIONS TO DRIVE THEIR SUCCESS.2023 PROGRAM IMPACT:1,072 ENTREPRENEURS SERVED BY RED WING IGITE THROUGHOUT THE 11 COUNTY REGION OF SE MINNESOTA26% ENTREPRENEURS SERVED SELF IDENTIFY AS BIPOC OR FROM A TRIBAL COMMUITY (WELL ABOVE CENSUS PARITY)66 BUSINESSES LAUNCHED26 COLLABORATIVE PARTNER ORGANIZATIONS WORKED WITH ON GRANT ACTIVITIES113 BUSINESS SUPPORT WORKSHOPS 266 ENTREPRENEURS RECEIVED CUSTOMIZED ASSISTANCE 80% OF ENTREPRENEUR SUREVY RESPONSES INDICATE PARTICIPATION RESULTED IN INCREASED CAPACITY FOR BUSINESS ADVANCEMENT 20 BUSINESS MENTORS CONNECTED TO ENTREPRENEURS12 ENTREPRENEURS PARTICIPATED IN BUSINESS ACCELERATOR PROGRAMMING MAJOR NATIONAL AND STATE RECOGNITION AND AWARDS: 2023 MN DEED DESIGNATION AS ENTREPRENEURIAL HUB IN SE MINNESOTA FOR THE LAUNCHMN PROGRAM 2022 EDA BUILD TO SCALE AWARD $4M. ONE OF EIGHT RURAL COMMUNITIES IN THE UNITED STATES TO BE AWARDED MINNEINNO BLAZER AWARD GIVEN BY TWIN CITIES BUSINESS MAGAZINE AS THE "TOP COMMUNITY BUILDER" IN MINNESOTA MN DEED SMALL BUSINESS PARTNERSHIP GRANT AWARDEE $436K2019 EDA I6 CHALLENGE GRANT AWARDEE $1.7M2018 SELECTED TO BE A PART OF THE CENTER ON RURAL INNOVATION INAUGURAL COHORT2014 FIRST RURAL COMMUNITY SELECTED BY US IGNITE AS A SMART CITY
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt017207
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt07
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0882274
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt040816
IRS990/FeesForServicesAccountingGrp/ProgramServicesAmt08400
IRS990/FeesForServicesAccountingGrp/TotalAmt049216
IRS990/FeesForServicesOtherGrp/FundraisingAmt06400
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt06050
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0286337
IRS990/FeesForServicesOtherGrp/TotalAmt0298787
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt35.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt750.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OfficerInd4X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt75234
IRS990/Form990PartVIISectionAGrp/PersonNm0TOM DRAZKOWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm1PAUL KRAMP
IRS990/Form990PartVIISectionAGrp/PersonNm2BETH BENIKE
IRS990/Form990PartVIISectionAGrp/PersonNm3MATTHEW LESSARD
IRS990/Form990PartVIISectionAGrp/PersonNm4TAWONDA BURKS
IRS990/Form990PartVIISectionAGrp/PersonNm5ATIQ BHATTI
IRS990/Form990PartVIISectionAGrp/PersonNm6BRIAN CARLSON
IRS990/Form990PartVIISectionAGrp/PersonNm7STACY NIMMO
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt799930
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7EXECUTIVE DIRECTOR
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02013
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt08
IRS990/GovernmentGrantsAmt0948281
IRS990/GrantAmt00
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01129892
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt08
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt0421
IRS990/InformationTechnologyGrp/ProgramServicesAmt07780
IRS990/InformationTechnologyGrp/TotalAmt08201
IRS990/InsuranceGrp/ManagementAndGeneralAmt02960
IRS990/InsuranceGrp/TotalAmt02960
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt027
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt031470
IRS990/LandBldgEquipBasisNetGrp/BOYAmt027089
IRS990/LandBldgEquipBasisNetGrp/EOYAmt023793
IRS990/LandBldgEquipCostOrOtherBssAmt055263
IRS990/LegalDomicileStateCd0MN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0WE 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0513812
IRS990/NetAssetsOrFundBalancesEOYAmt0651230
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0513812
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0634023
IRS990/NoncashContributionsAmt010571
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt017075
IRS990/OccupancyGrp/TotalAmt017075
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04850
IRS990/OfficeExpensesGrp/ProgramServicesAmt037688
IRS990/OfficeExpensesGrp/TotalAmt042538
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02162
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt029976
IRS990/OtherEmployeeBenefitsGrp/TotalAmt032138
IRS990/OtherExpensesGrp/Desc0DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc1OTHER
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01364
IRS990/OtherExpensesGrp/ProgramServicesAmt07443
IRS990/OtherExpensesGrp/ProgramServicesAmt11423
IRS990/OtherExpensesGrp/TotalAmt07443
IRS990/OtherExpensesGrp/TotalAmt12787
IRS990/OtherLiabilitiesGrp/BOYAmt03034
IRS990/OtherLiabilitiesGrp/EOYAmt013779
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt03951
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt03951
IRS990/OtherRevenueTotalAmt03951
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt026899
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0325062
IRS990/OtherSalariesAndWagesGrp/TotalAmt0351961
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02034
IRS990/PayrollTaxesGrp/ProgramServicesAmt032147
IRS990/PayrollTaxesGrp/TotalAmt034181
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0268
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt03187
IRS990/PensionPlanContributionsGrp/TotalAmt03455
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0407230
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0302305
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05000
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05228
IRS990/PrincipalOfficerNm0MATTHEW LESSARD
IRS990/PriorPeriodAdjustmentsAmt01380
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1561499
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM OFFICE SPACE
IRS990/ProgramServiceRevenueGrp/Desc1SBDC INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt026857
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt116282
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt026857
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt116282
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01101288
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0627223
IRS990/PYOtherRevenueAmt02125
IRS990/PYProgramServiceRevenueAmt040030
IRS990/PYRevenuesLessExpensesAmt0302705
IRS990/PYSalariesCompEmpBnftPaidAmt0213515
IRS990/PYTotalExpensesAmt0840738
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01143443
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0136038
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt047090
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME - 2019 AMOUNT: $ 24,403. 2020 AMOUNT: $ 22,251. 2022 AMOUNT: $ 2,125. 2023 AMOUNT: $ 3,951.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME:
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01082802
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01101288
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0534489
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0457668
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0327648
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03503895
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0116205
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt03951
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt02125
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt022251
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt024403
IRS990ScheduleA/OtherIncome170Grp/TotalAmt052730
IRS990ScheduleA/PublicSupportCY170Pct00.95240
IRS990ScheduleA/PublicSupportPY170Pct00.91890
IRS990ScheduleA/PublicSupportTotal170Amt03387294
IRS990ScheduleA/SubstantialContributorsTotAmt0116601
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01082802
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01101288
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0534489
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0457668
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0327648
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03503895
IRS990ScheduleA/TotalSupportAmt03556625
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/DonatedServicesAndUseFcltsAmt0195519
IRS990ScheduleD/DonatedServicesUseFcltsAmt0195519
IRS990ScheduleD/EquipmentGrp/BookValueAmt023793
IRS990ScheduleD/EquipmentGrp/DepreciationAmt031470
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt055263
IRS990ScheduleD/ExpensesNotReportedAmt0195519
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0993854
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013779
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FISCAL AGENT PASS THROUGH
IRS990ScheduleD/RevenueNotReportedAmt0195519
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01129892
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS AND HAS DETERMINED IT HAS NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt023793
IRS990ScheduleD/TotalExpensesPerForm990Amt0993854
IRS990ScheduleD/TotalLiabilityAmt013779
IRS990ScheduleD/TotalRevenuePerForm990Amt01129892
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01325411
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01189373
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 REVIEWS UPDATES AND SIGNS CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. POTENTIAL CONFLICTS OF INTEREST ARE BROUGHT UP DURING BOARD MEETINGS WHEN AND IF THEY OCCUR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WAGES ARE COMPARED TO MN COUNCIL OF NONPROFITS WAGE STUDY, O*NET FOR OUR AREA ALONG WITH COMPARABLE OPEN JOB POSTINGS AT OTHER SIMILAR SIZED NONPROFITS IN OUTSTATE AND SE MINNESOTA. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL FORMS AVAILABLE TO PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 286,337. MANAGEMENT AND GENERAL EXPENSES 6,050. FUNDRAISING EXPENSES 6,400. TOTAL EXPENSES 298,787.
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 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 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/TotalAssetsBOYAmt0562326
IRS990/TotalAssetsEOYAmt0698557
IRS990/TotalAssetsGrp/BOYAmt0562326
IRS990/TotalAssetsGrp/EOYAmt0698557
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01082802
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06400
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0105180
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0882274
IRS990/TotalFunctionalExpensesGrp/TotalAmt0993854
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt048514
IRS990/TotalLiabilitiesEOYAmt047327
IRS990/TotalLiabilitiesGrp/BOYAmt048514
IRS990/TotalLiabilitiesGrp/EOYAmt047327
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0513812
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0651230
IRS990/TotalOtherCompensationAmt05234
IRS990/TotalProgramServiceExpensesAmt0882274
IRS990/TotalProgramServiceRevenueAmt043139
IRS990/TotalReportableCompFromOrgAmt099930
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt047090
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01129892
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0562326
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0698557
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt03301
IRS990/TravelGrp/ProgramServicesAmt015635
IRS990/TravelGrp/TotalAmt018936
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0419 BUSH STREET
IRS990/USAddress/CityNm0RED WING
IRS990/USAddress/StateAbbreviationCd0MN

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$698,557
Liabilities
$47,327
Net assets
$651,230
Revenue
$1,129,892
Expenses
$993,854
Net income
$136,038
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.71$0.05$0.66$1.29$1.28$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.70$0.05$0.65$1.13$0.99$0.14
2022Detailed filing. Detailed filing data is available for this year.$0.56$0.05$0.51$1.14$0.84$0.30
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.11$0.00$0.11$0.57$0.55$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.10$0.01$0.09$0.50$0.51$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.10$0.35$0.29$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.04$0.00$0.04$0.21$0.19$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.02$0.09$0.11$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.09$0.13$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.15$0.10$0.05
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.03$0.00$0.03$0.09$0.10$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$0.17$0.13$0.04