Civic Intelligence

Mimcs Building Company

990 • Fiscal year 2024 • EIN 82-1302123

Jul 01, 2023 to Jun 30, 2024 • Filed on Mar 07, 2025

Organization ProfileN/A
277 12th Avenue NMinneapolis, MN 55401

(612) 821-6470

Siviq Scores

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

Liabilities / Assets

94th percentile

1.00x

Higher debt load relative to assets than 94% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

11.94x

Higher debt load relative to revenue than 97% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Net Margin

9th percentile

-26%

Higher net margin than 9% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Top Officer Pay

15th percentile

$18,025

Higher top officer pay than 15% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2024

Asset Growth

41st percentile

2.4%

Faster asset growth than 41% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Revenue Growth

51st percentile

8.0%

Faster revenue growth than 51% of similar nonprofits.

2024 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$23,714,841

Up $552,593 (+2.4%) from 2023

Net Assets

Up

$18,075

Up $908,800 (+102%) from 2023

Liabilities

Down

$23,696,766

Down $356,207 (-1.5%) from 2023

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin9th percentile

Revenue

Up

$1,984,984

Up $147,258 (+8.0%) from 2023

Expenses

Up

$2,509,752

Up $776,745 (+45%) from 2023

Net Income

Down

-$524,768

Down $629,487 (-601%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth41st percentile

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

$30M$20M$10M$0-$10MAssets 2020: $24,696,892Liabilities 2020: $25,502,321Net Assets 2020: -$805,4292020Assets 2021: $24,067,875Liabilities 2021: $25,034,625Net Assets 2021: -$966,7502021Assets 2022: $23,559,256Liabilities 2022: $24,554,700Net Assets 2022: -$995,4442022Assets 2023: $23,162,248Liabilities 2023: $24,052,973Net Assets 2023: -$890,7252023Assets 2024: $23,714,841Liabilities 2024: $23,696,766Net Assets 2024: $18,0752024Assets 2025: $22,052,750Liabilities 2025: $22,997,314Net Assets 2025: -$944,5642025

Highlighted filing

2024

Assets$23,714,841
Liabilities$23,696,766
Net Assets$18,075
Open 2024 Filing

Operations Trend

Revenue Growth51st percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2020: $1,886,375Expenses 2020: $2,069,897Net Income 2020: -$183,5222020Revenue 2021: $1,861,169Expenses 2021: $2,022,490Net Income 2021: -$161,3212021Revenue 2022: $1,862,395Expenses 2022: $1,891,089Net Income 2022: -$28,6942022Revenue 2023: $1,837,726Expenses 2023: $1,733,007Net Income 2023: $104,7192023Revenue 2024: $1,984,984Expenses 2024: $2,509,752Net Income 2024: -$524,7682024Revenue 2025: $1,976,938Expenses 2025: $2,004,715Net Income 2025: -$27,7772025

Highlighted filing

2024

Revenue$1,984,984
Expenses$2,509,752
Net Income-$524,768
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Mar 7, 2025
Return Version
2023v6.0
Gross Receipts
$1,984,984
Mission and Program Overview

Mission

To purchase and rent a school facility to twin cities international schools (tcis)

To purchase and rent a school facility to twin cities international schools tcis

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$20,596,243$20,975,175▲ $378,932
Cash and Non-Interest-Bearing Accounts$2,566,005$2,739,666▲ $173,661
Cap Stk Tr Prin Current Funds$1,602,987--
Pd in Cap Srpls Land Bldg Eqp Fund$-2,493,712$18,075▲ $2,511,787
Total Assets$23,162,248$23,714,841▲ $552,593
Liabilities
Tax Exempt Bond Liabilities$23,954,350$23,599,904▼ $354,446
Accounts Payable and Accrued Expenses$98,623$96,862▼ $1,761
Total Liabilities$24,052,973$23,696,766▼ $356,207
Net Assets / Fund Balance
Total Net Assets Fund Balance$-890,725$18,075▲ $908,800
Total Liabilities and Net Assets / Fund Balance$23,162,248$23,714,841▲ $552,593

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,745,818$4,093,366$20,839,184
Land$3,135,457-$3,135,457
Leasehold Improvements$1,093,900$696,789$1,790,689
Compensation and Service Providers
Top Officer Pay15th percentile

Employees

NameTitleOtherTotal
Ahmed AhmedSecretary$18,025$18,025

Board Members and Trustees

NameTitle
Faysal AliPresident
Manyi TambeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,984,984
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-524,768

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,984,984
Total Revenue per Audited Statements
$1,984,984
Total Revenue per Form 990
$1,984,984
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,509,752
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
Interest$1,173,401--$1,173,401
Depreciation Depletion$698,428--$698,428
Other Expenses$520,000--$520,000
Total Functional Expenses$2,509,752$0$0$2,509,752

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,509,752
Total Expenses per Audited Statements$2,509,752
Total Expenses per Form 990$2,509,752
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
Federal income taxes-

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Minneapolis2017-12-19$25,929,514CAPITAL EXPENDITURES

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$25,919,514--$807,866

Bond Financing Compliance

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

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6

“Twin cities international schools is the sole member.”

Form 990, Part VI, Line 7A

“The sole member, twin cities international schools, appoints all directors annually.”

Form 990, Part VI, Line 7B

“The articles of incorporation shall not be amended without written consent of the sole member, twin cities international schools.”

Form 990, Part VI, Line 8

“The organization does not have any committees that have the authority to act on behalf of the governing body.”

Form 990, Part VI, Line 11B

“A draft of form 990 is reviewed by management and presented to the board of directors prior to approval and signature.”

Form 990, Part VI, Line 19

“The process has not changed from the prior year.”

Filing and Contact Details

Filer

Filer Name
MIMCS Building Company
EIN
82-1302123
Phone
6128216470
Address
277 12TH AVENUE N, Minneapolis, MN 55401

Signing Officer

Name
Faysal Ali
Title
President
Phone
6128216470
Signed
2025-03-07
Discuss with paid preparer
No

Organization Details

Principal Officer
Faysal Ali
Formed
2017
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Thomas & Company CPA Pa
Address
9710 STIRLING RD STE 101, COOPER CITY, FL 33024
Preparer
Roby J Thomas
Phone
9544357272
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 8

“During the current reporting period, significant adjustments were made to prior period financial statements due to a re-evaluation of the allocation between twin cities international schools main company 31-1743008 and mimcs building company building company 82-1302123.. These adjustments were necessary to ensure that the financial statements accurately align with applicable irs requirements and accounting standards.------------the building and land, previously partially allocated to the main company, were fully reallocated to the building company to reflect its role in managing and maintaining the facility. Depreciation on the building and related improvements was previously charged to the main company. This expense has been reallocated to the building company.---------------these adjustments have resulted in a 1,433,568 prior period adjustment as net assets were understated. Moving forward, the current allocation will be consistently applied to prevent similar issues in future periods.”

Financial Statement Notes

X

“The academy is exempt from income taxes under section 501c3 of the internal revenue code irc. The academy is also exempt from minnesota franchise or income tax. The academy is required to assess whether an uncertain tax position exists and if there should be recognition of a related benefit or liability in the financial statements. The academy has determined there are not amounts to record as assets or liabilities related to uncertain tax positions.”

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IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd0false
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalizedInterestAmt0137000
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt01688567
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0807866
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IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd0false
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02019
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt025919514
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TWIN CITIES INTERNATIONAL SCHOOLS IS THE SOLE MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOLE MEMBER, TWIN CITIES INTERNATIONAL SCHOOLS, APPOINTS ALL DIRECTORS ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ARTICLES OF INCORPORATION SHALL NOT BE AMENDED WITHOUT WRITTEN CONSENT OF THE SOLE MEMBER, TWIN CITIES INTERNATIONAL SCHOOLS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A DRAFT OF FORM 990 IS REVIEWED BY MANAGEMENT AND PRESENTED TO THE BOARD OF DIRECTORS PRIOR TO APPROVAL AND SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DURING THE CURRENT REPORTING PERIOD, SIGNIFICANT ADJUSTMENTS WERE MADE TO PRIOR PERIOD FINANCIAL STATEMENTS DUE TO A RE-EVALUATION OF THE ALLOCATION BETWEEN TWIN CITIES INTERNATIONAL SCHOOLS MAIN COMPANY 31-1743008 AND MIMCS BUILDING COMPANY BUILDING COMPANY 82-1302123.. THESE ADJUSTMENTS WERE NECESSARY TO ENSURE THAT THE FINANCIAL STATEMENTS ACCURATELY ALIGN WITH APPLICABLE IRS REQUIREMENTS AND ACCOUNTING STANDARDS.------------THE BUILDING AND LAND, PREVIOUSLY PARTIALLY ALLOCATED TO THE MAIN COMPANY, WERE FULLY REALLOCATED TO THE BUILDING COMPANY TO REFLECT ITS ROLE IN MANAGING AND MAINTAINING THE FACILITY. DEPRECIATION ON THE BUILDING AND RELATED IMPROVEMENTS WAS PREVIOUSLY CHARGED TO THE MAIN COMPANY. THIS EXPENSE HAS BEEN REALLOCATED TO THE BUILDING COMPANY.---------------THESE ADJUSTMENTS HAVE RESULTED IN A 1,433,568 PRIOR PERIOD ADJUSTMENT AS NET ASSETS WERE UNDERSTATED. MOVING FORWARD, THE CURRENT ALLOCATION WILL BE CONSISTENTLY APPLIED TO PREVENT SIMILAR ISSUES IN FUTURE PERIODS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 8
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, Line 8
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TWIN CITIES INTERNATIONAL SCHOOLS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0311743008
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0BUILDING COMPANY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt02
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0277 12TH AVENUE N
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MINNEAPOLIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055401
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt023954350
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt023599904
IRS990/TaxExemptBondsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt023162248
IRS990/TotalAssetsEOYAmt023714841
IRS990/TotalAssetsGrp/BOYAmt023162248
IRS990/TotalAssetsGrp/EOYAmt023714841
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02509752
IRS990/TotalFunctionalExpensesGrp/TotalAmt02509752
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt024052973
IRS990/TotalLiabilitiesEOYAmt023696766
IRS990/TotalLiabilitiesGrp/BOYAmt024052973
IRS990/TotalLiabilitiesGrp/EOYAmt023696766
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-890725
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt018075
IRS990/TotalProgramServiceExpensesAmt02509752
IRS990/TotalProgramServiceRevenueAmt01984984
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01984984
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01984984
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt023162248
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt023714841
IRS990/TotReportableCompRltdOrgAmt018025
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0277 12TH AVENUE N
IRS990/USAddress/CityNm0Minneapolis
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055401
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0FAYSAL ALI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06128216470
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIMCS Building Company
ReturnHeader/Filer/BusinessNameControlTxt0MIMC
ReturnHeader/Filer/EIN0821302123
ReturnHeader/Filer/PhoneNum06128216470
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ReturnHeader/Filer/USAddress/CityNm0Minneapolis
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ReturnHeader/Filer/USAddress/ZIPCd055401
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0753125446

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,714,841
Liabilities
$23,696,766
Net assets
$18,075
Revenue
$1,984,984
Expenses
$2,509,752
Net income
-$524,768
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$22.1$23.0$0.94$1.98$2.00$0.03
2024Detailed filing. Detailed filing data is available for this year.$23.7$23.7$0.02$1.98$2.51$0.52
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.2$24.1$0.89$1.84$1.73$0.10
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.6$24.6$1.00$1.86$1.89$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.1$25.0$0.97$1.86$2.02$0.16
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.7$25.5$0.81$1.89$2.07$0.18