Civic Intelligence

Friends of the M

990 • Fiscal year 2018 • EIN 82-2978503

Jul 01, 2017 to Jun 30, 2018 • Filed on Dec 16, 2018

Organization ProfileN/A
350 Robert Street NorthSt Paul, MN 55101

(651) 797-4057

Siviq Scores

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

Liabilities / Assets

80th percentile

0.59x

Higher debt load relative to assets than 80% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

98th percentile

18.45x

Higher debt load relative to revenue than 98% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

91st percentile

52%

Higher net margin than 91% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

61st percentile

$146,892

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 90.8% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets80th percentile

Assets

$5,066,793

No earlier filing loaded for comparison.

Net Assets

$2,082,010

No earlier filing loaded for comparison.

Liabilities

$2,984,783

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin91st percentile

Revenue

$161,793

No earlier filing loaded for comparison.

Expenses

$77,283

No earlier filing loaded for comparison.

Net Income

$84,510

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Assets 2018: $5,066,793Liabilities 2018: $2,984,783Net Assets 2018: $2,082,0102018Assets 2019: $5,015,022Liabilities 2019: $2,349,433Net Assets 2019: $2,665,5892019Assets 2020: $5,028,206Liabilities 2020: $2,083,352Net Assets 2020: $2,944,8542020Assets 2021: $5,076,441Liabilities 2021: $2,083,099Net Assets 2021: $2,993,3422021Assets 2022: $5,123,466Liabilities 2022: $2,096,313Net Assets 2022: $3,027,1532022Assets 2023: $5,043,833Liabilities 2023: $1,998,521Net Assets 2023: $3,045,3122023Assets 2024: $4,958,896Liabilities 2024: $1,879,235Net Assets 2024: $3,079,6612024

Highlighted filing

2018

Assets$5,066,793
Liabilities$2,984,783
Net Assets$2,082,010
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$800K$600K$400K$200K$0Revenue 2018: $161,793Expenses 2018: $77,283Net Income 2018: $84,5102018Revenue 2019: $720,405Expenses 2019: $136,826Net Income 2019: $583,5792019Revenue 2020: $385,046Expenses 2020: $105,781Net Income 2020: $279,2652020Revenue 2021: $143,200Expenses 2021: $94,712Net Income 2021: $48,4882021Revenue 2022: $135,075Expenses 2022: $101,264Net Income 2022: $33,8112022Revenue 2023: $133,626Expenses 2023: $115,467Net Income 2023: $18,1592023Revenue 2024: $128,141Expenses 2024: $93,792Net Income 2024: $34,3492024

Highlighted filing

2018

Revenue$161,793
Expenses$77,283
Net Income$84,510
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Dec 16, 2018
Return Version
2017v2.3
Gross Receipts
$161,793
Mission and Program Overview

Mission

Friends of the m is organized and will operate exclusively for charitable and educational purposes, and exclusively for the benefit of, to support the functions of, and to assist in carrying out the purpose of minnesota museum of american art, a minnesota nonprofit corporation.

Friends of the m is organized and will operate exclusively for charitable and educational purposes, and exclusively for the benefit, to support the functions of, and to assist in carrying out the purpose of minnesota museum of american art, a minnesota nonprofit corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net-$4,825,000-
Cash and Non-Interest-Bearing Accounts-$241,793-
Total Assets$0$5,066,793▲ $5,066,793
Liabilities
Mortgage Notes Payable Secured by Investment Property-$2,914,658-
Accounts Payable and Accrued Expenses-$70,125-
Total Liabilities$0$2,984,783▲ $2,984,783
Net Assets / Fund Balance
Unrestricted Net Assets-$1,946,495-
Temporarily Rstr Net Assets-$135,515-
Total Net Assets Fund Balance$0$2,082,010▲ $2,082,010
Total Liabilities and Net Assets / Fund Balance$0$5,066,793▲ $5,066,793
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeOtherTotal
Kristin MakholmChairFT$146,892$146,892

Board Members and Trustees

NameTitle
Sue FockeDirector
Walter LehmannDirector
Beth BergmanSecretary
Gregory PriceTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$135,515
Program Service Revenue
$0
Investment Income
$26,278
Other Revenue
$0
Change in Net Assets
$84,510
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$77,283
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$70,125--$70,125
Depreciation Depletion$7,158--$7,158
Total Functional Expenses$77,283$0$0$77,283
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
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 8B

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

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

“The board was provided the form 990 before it was signed and filed.”

Form 990, Part VI, Section B, Line 12C

“The organization discusses and discloses conflicts of interest as they arise. Any new board members are required to disclose confilcts when joining and annually thereafter.”

Form 990, Part VI, Section C, Line 19

“All documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Friends of the M
EIN
82-2978503
Phone
6517974057
Address
350 ROBERT STREET NORTH, ST PAUL, MN 55101

Signing Officer

Name
Kristin Makholm
Title
Executive Director
Phone
6514920309
Signed
2018-12-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Kristin Makholm
Formed
2017
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Mahoneyulbrichchristiansen & Russ Pa
Address
10 RIVER PARK PLAZA SUITE 800, SAINT PAUL, MN 55107
Preparer
Marc a Kotsonas
Phone
6512276695
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“SPONSOR CASH 1,997,500.”

Financial Statement Notes

PART X, LINE 2:

“Friends of the m is classified as a tax exempt organization under minnesota statute 290.05 and section 501(c)(3) of the internal revenue service code and is subject to income taxes only on net unrelated business income. Management believes the organization did not have any unrelated business income”

Raw XML Appendix368 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FRIENDS OF THE M IS CLASSIFIED AS A TAX EXEMPT ORGANIZATION UNDER MINNESOTA STATUTE 290.05 AND SECTION 501(C)(3) OF THE INTERNAL REVENUE SERVICE CODE AND IS SUBJECT TO INCOME TAXES ONLY ON NET UNRELATED BUSINESS INCOME. MANAGEMENT BELIEVES THE ORGANIZATION DID NOT HAVE ANY UNRELATED BUSINESS INCOME
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES THAT ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD WAS PROVIDED THE FORM 990 BEFORE IT WAS SIGNED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DISCUSSES AND DISCLOSES CONFLICTS OF INTEREST AS THEY ARISE. ANY NEW BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFILCTS WHEN JOINING AND ANNUALLY THEREAFTER.
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0M PROPERTY PARTNERS LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt1M MANAGING MEMBER LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt2M MASTER TENANT LLC
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IRS990/TaxablePartyNotificationInd00
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0135515
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt077283
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/VotingMembersGoverningBodyCnt05
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KRISTIN MAKHOLM
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ReturnHeader/BusinessOfficerGrp/PhoneNum06514920309
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-12-16
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ReturnHeader/Filer/PhoneNum06517974057
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.118.61.118
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ReturnHeader/FilingSecurityInformation/IPTm018:46:04
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411647057
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MAHONEYULBRICHCHRISTIANSEN & RUSS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010 RIVER PARK PLAZA SUITE 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAINT PAUL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055107
ReturnHeader/PreparerPersonGrp/PhoneNum06512276695
ReturnHeader/PreparerPersonGrp/PreparationDt02018-12-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARC A KOTSONAS
ReturnHeader/ReturnTs02019-01-24T09:12:16-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,066,793
Liabilities
$2,984,783
Net assets
$2,082,010
Revenue
$161,793
Expenses
$77,283
Net income
$84,510
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.96$1.88$3.08$0.13$0.09$0.03
2023Detailed filing. Detailed filing data is available for this year.$5.04$2.00$3.05$0.13$0.12$0.02
2022Detailed filing. Detailed filing data is available for this year.$5.12$2.10$3.03$0.14$0.10$0.03
2021Detailed filing. Detailed filing data is available for this year.$5.08$2.08$2.99$0.14$0.09$0.05
2020Detailed filing. Detailed filing data is available for this year.$5.03$2.08$2.94$0.39$0.11$0.28
2019Detailed filing. Detailed filing data is available for this year.$5.02$2.35$2.67$0.72$0.14$0.58
2018Detailed filing. Detailed filing data is available for this year.$5.07$2.98$2.08$0.16$0.08$0.08