Civic Intelligence

Minnwest Technology Foundation

990EZ • Fiscal year 2020 • EIN 77-0704901

Oct 01, 2019 to Sep 30, 2020 • Filed on Jan 19, 2021

1700 Technology Dr NEWillmar, MN 56201

(320) 222-9750

Siviq Scores

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

Liabilities / Assets

64th percentile

0.02x

Higher debt load relative to assets than 64% of similar nonprofits.

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

Liabilities / Revenue

61st percentile

0.01x

Higher debt load relative to revenue than 61% of similar nonprofits.

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

Net Margin

23rd percentile

-18%

Higher net margin than 23% 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

16th percentile

-25%

Faster asset growth than 16% of similar nonprofits.

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

Revenue Growth

23rd percentile

-49%

Faster revenue growth than 23% of similar nonprofits.

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

Assets

Down

$12,035

Down $4,088 (-25%) from 2019

Net Assets

$11,826

No earlier filing loaded for comparison.

Liabilities

Up

$209

Up $209 from 2019

Revenue

Down

$24,002

Down $22,880 (-49%) from 2019

Expenses

Down

$28,299

Down $1,536 (-5.1%) from 2019

Net Income

Down

-$4,297

Down $21,344 (-125%) from 2019

Historical Trend

Balance Sheet Trend

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

$100K$50K$0Assets 2013: $36,092Liabilities 2013: $2752013Assets 2014: $98,425Liabilities 2014: $1,0582014Assets 2015: $68,973Liabilities 2015: $5,364Net Assets 2015: $63,6092015Assets 2016: $50,298Liabilities 2016: $17,5192016Assets 2017: $13,023Liabilities 2017: $10,4502017Assets 2018: $16,120Liabilities 2018: $17,0442018Assets 2019: $16,123Liabilities 2019: $02019Assets 2020: $12,035Liabilities 2020: $209Net Assets 2020: $11,8262020Assets 2021: $18,173Net Assets 2021: $18,1732021Assets 2022: $37,811Net Assets 2022: $37,8112022Assets 2023: $11,557Liabilities 2023: $0Net Assets 2023: $11,5572023Assets 2024: $3,650Liabilities 2024: $0Net Assets 2024: $3,6502024Assets 2025: $12,092Liabilities 2025: $0Net Assets 2025: $12,0922025

Highlighted filing

2020

Assets$12,035
Liabilities$209
Net Assets$11,826

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2013: $86,752Expenses 2013: $69,224Net Income 2013: $17,5282013Revenue 2014: $141,988Expenses 2014: $80,438Net Income 2014: $61,5502014Revenue 2015: $65,609Expenses 2015: $99,367Net Income 2015: -$33,7582015Revenue 2016: $50,992Expenses 2016: $81,822Net Income 2016: -$30,8302016Revenue 2017: $38,833Expenses 2017: $69,039Net Income 2017: -$30,2062017Revenue 2018: $28,501Expenses 2018: $31,998Net Income 2018: -$3,4972018Revenue 2019: $46,882Expenses 2019: $29,835Net Income 2019: $17,0472019Revenue 2020: $24,002Expenses 2020: $28,299Net Income 2020: -$4,2972020Revenue 2021: $39,507Expenses 2021: $33,160Net Income 2021: $6,3472021Revenue 2022: $51,257Expenses 2022: $31,619Net Income 2022: $19,6382022Revenue 2023: $40,045Expenses 2023: $66,299Net Income 2023: -$26,2542023Revenue 2024: $46,037Expenses 2024: $53,944Net Income 2024: -$7,9072024Revenue 2025: $40,005Expenses 2025: $31,563Net Income 2025: $8,4422025

Highlighted filing

2020

Revenue$24,002
Expenses$28,299
Net Income-$4,297
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Jan 19, 2021
Return Version
2019v5.1
Gross Receipts
$24,002
Mission and Program Overview

Mission

The minnwest technology's purpose is to provide scholarships for students going into stem (science, technology, engineering, math) fields, to promote stem in our region, and to provide community enrichment opportunities. The foundation will also promote advancement in the fields of biotechnology, bio-science, agri-business, renewable energy, engineering and chemistry for the state of minnesota. The minnwest technology foundation hopes that the long-term benefits will include a stronger pool of employees in this area and within the state of minnesota, which, in turn, will make the state more competitive within the aforementioned fields of industry.

SEE SCHEDULE O

Program Services

DescriptionGrantsExpenses
AG AND ANIMAL SCIENCE CONFERENCE-$23,070
OTHER PROGRAM SERVICE EXPENSES-SCHOLARSHIPS AND MISC.$2,000$2,000
COMMUNITY DEVELOPMENT- YMCA CAPITAL CAMPAIGN$1,000$1,000
KANDIYOHI CTY. AND CITY OF WILLMAR ECONOMIC DEVELOPMENT COMMISSION - STUDENT CEO PROGRAM-DONATION/SPONSORSHIPS$350$350
UNIVERSITYOF MINN. STEM PROGRAM- DONATION OF FUNDS FOR TECHNOLOGY EQUIP.--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
JAMES SIEBENPresident-$0--
BETH WOSMEKCFO Treasurer-$0--
SCOTT NORLINGSecretary-$0--
MARC GORANSDirector-$0--
KIM GORANSDirector-$0--
RICHARD HUISINGADirector-$0--
Filing and Contact Details

Filer

Filer Name
Minnwest Technology Foundation
EIN
77-0704901
Phone
3202229750
Address
1700 TECHNOLOGY DR NE, WILLMAR, MN 56201

Signing Officer

Name
Beth Wosmek
Title
CFO Treasurer
Signed
2021-01-19
Discuss with paid preparer
Yes

Preparer

Firm
JAMES M RUFF INC-CPA'S
Address
2015 1ST ST SO, WILLMAR, MN 56201
Preparer
JAMES M RUFF cpa
Phone
3202351002
Supplemental Narrative

Additional Explanations

Form 990-EZ, Part III, Line 31

OTHER PROGRAM SERVICE EXPENSES-SCHOLARSHIPS AND MISC. Grants and allocations 2,000, Program service expenses 2,000

Form 990-EZ, Part III, Line 31

KANDIYOHI CTY. AND CITY OF WILLMAR ECONOMIC DEVELOPMENT COMMISSION - STUDENT CEO PROGRAM-DONATION/SPONSORSHIPS Grants and allocations 350, Program service expenses 350

Form 990-EZ, Part I, Line 16, Other Expenses

Conferences, conventions, and meetings 23,070

Form 990-EZ, Part I, Line 16, Other Expenses

BANK CHARGES 69

Form 990-EZ, Part I, Line 16, Other Expenses

ADVERTISING 75

Form 990-EZ, Part I, Line 16, Other Expenses

CONTRACT ADMIN COSTS 360

Form 990-EZ, Part II, Line 26, Liabilities

ACCOUNTS PAYABLE Beginning of year 0, End of year 209

Raw XML Appendix170 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Conferences, conventions, and meetings 23,070
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BANK CHARGES 69
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ADVERTISING 75
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ACCOUNTS PAYABLE Beginning of year 0, End of year 209
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990-EZ, Part I, Line 16, Other Expenses
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990-EZ, Part I, Line 16, Other Expenses
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES M RUFF cpa
ReturnHeader/ReturnTs02021-01-19T03:13:28-00:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02019-10-01
ReturnHeader/TaxPeriodEndDt02020-09-30
ReturnHeader/TaxYr02019

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Filings