Civic Intelligence

Minnesota Education Trust

990 • Fiscal year 2021 • EIN 83-0473561

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 09, 2022

Organization ProfileN/A
711 Smith Avenue SouthSt Paul, MN 55107

(651) 647-6250

Siviq Scores

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

Liabilities / Assets

1st percentile

-0.00x

Higher debt load relative to assets than 1% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

1st percentile

-0.02x

Higher debt load relative to revenue than 1% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

15th percentile

-4.4%

Higher net margin than 15% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

32nd percentile

3.5%

Faster asset growth than 32% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

53rd percentile

14%

Faster revenue growth than 53% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets1st percentile

Assets

Up

$12,235,946

Up $411,198 (+3.5%) from 2020

Net Assets

Up

$12,263,208

Up $547,507 (+4.7%) from 2020

Liabilities

Down

-$27,262

Down $136,309 (-125%) from 2020

Revenue And Expenses
Liabilities / Revenue1st percentileNet Margin15th percentile

Revenue

Up

$1,363,771

Up $170,803 (+14%) from 2020

Expenses

Up

$1,423,401

Up $574,685 (+68%) from 2020

Net Income

Down

-$59,630

Down $403,882 (-117%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $5,421,918Liabilities 2010: $0Net Assets 2010: $5,421,9182010Assets 2011: $5,825,574Liabilities 2011: $71,771Net Assets 2011: $5,753,8032011Assets 2012: $7,061,503Liabilities 2012: $35,320Net Assets 2012: $7,026,1832012Assets 2013: $6,914,146Liabilities 2013: $70,063Net Assets 2013: $6,844,0832013Assets 2014: $6,679,609Liabilities 2014: $70,659Net Assets 2014: $6,608,9502014Assets 2015: $8,053,551Liabilities 2015: $114,008Net Assets 2015: $7,939,5432015Assets 2016: $11,259,999Liabilities 2016: $123,773Net Assets 2016: $11,136,2262016Assets 2017: $11,131,175Liabilities 2017: $101,772Net Assets 2017: $11,029,4032017Assets 2018: $11,208,079Liabilities 2018: $143,937Net Assets 2018: $11,064,1422018Assets 2019: $11,079,198Liabilities 2019: $190,667Net Assets 2019: $10,888,5312019Assets 2020: $11,824,748Liabilities 2020: $109,047Net Assets 2020: $11,715,7012020Assets 2021: $12,235,946Liabilities 2021: -$27,262Net Assets 2021: $12,263,2082021Assets 2022: $11,183,294Liabilities 2022: $69,253Net Assets 2022: $11,114,0412022

Highlighted filing

2021

Assets$12,235,946
Liabilities-$27,262
Net Assets$12,263,208
Open 2021 Filing

Operations Trend

Revenue Growth53rd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $1,041,933Expenses 2010: $187,147Net Income 2010: $854,7862010Expenses 2011: $352,3522011Expenses 2012: $565,7862012Revenue 2013: $463,223Expenses 2013: $933,143Net Income 2013: -$469,9202013Revenue 2014: $602,800Expenses 2014: $843,453Net Income 2014: -$240,6532014Revenue 2015: $2,480,560Expenses 2015: $1,060,017Net Income 2015: $1,420,5432015Revenue 2016: $5,649,694Expenses 2016: $2,455,497Net Income 2016: $3,194,1972016Revenue 2017: $2,082,120Expenses 2017: $2,460,370Net Income 2017: -$378,2502017Revenue 2018: $2,030,158Expenses 2018: $1,842,429Net Income 2018: $187,7292018Revenue 2019: $1,151,945Expenses 2019: $1,415,451Net Income 2019: -$263,5062019Revenue 2020: $1,192,968Expenses 2020: $848,716Net Income 2020: $344,2522020Revenue 2021: $1,363,771Expenses 2021: $1,423,401Net Income 2021: -$59,6302021Revenue 2022: $1,981,861Expenses 2022: $2,363,615Net Income 2022: -$381,7542022

Highlighted filing

2021

Revenue$1,363,771
Expenses$1,423,401
Net Income-$59,630
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 9, 2022
Return Version
2021v4.2
Gross Receipts
$1,363,771
Mission and Program Overview

Mission

Minnesota education trust (met) seeks to support religious centers, community centers, schools, and to assist other organizations that serve goals similar to the goals of met.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,080,481$8,331,962▼ $748,519
Investments Other Securities$1,993,320$3,693,295▲ $1,699,975
Cash and Non-Interest-Bearing Accounts$223,945$200,565▼ $23,380
Accounts Receivable$201,303$10,391▼ $190,912
Total Assets$11,824,748$12,235,946▲ $411,198
Other Assets Total$325,699$-267▼ $325,966
Liabilities
Unsecured Notes Loans Payable$65,300--
Deferred Revenue$16,575$16,575→ $0
Accounts Payable and Accrued Expenses$27,172$-43,837▼ $71,009
Total Liabilities$109,047$-27,262▼ $136,309
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,715,701$12,263,208▲ $547,507
Total Net Assets Fund Balance$11,715,701$12,263,208▲ $547,507
Total Liabilities and Net Assets / Fund Balance$11,824,748$12,235,946▲ $411,198

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,638,307$1,937,600$7,575,907
Land$2,693,655-$2,693,655
Other Securities$3,693,295--
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Asif RahmanPresident
Jessie FrenzelDirector
Mustapha HammidaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$163,708
Program Service Revenue
$1,200,063
Investment Income
$0
Other Revenue
$0
All Other Contributions
$133,108
Change in Net Assets
$-59,630
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,334,754
Salaries, Compensation, and Employee Benefits$88,647
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$172,998--$172,998
Other Salaries and Wages$77,610--$77,610
Insurance$42,208$427-$42,635
Fees for Services Accounting-$19,850-$19,850
Information Technology-$11,635-$11,635
Payroll Taxes$11,037--$11,037
Other Expenses$10,615--$10,615
All Other Expenses$7,016$486-$7,502
Fees for Services Other-$645-$645
Occupancy-$165-$165
Total Functional Expenses$1,390,193$33,208$0$1,423,401
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
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Our members reflect the community we serve”

Form 990, Part VI, Section A, Line 7A

“Members may elect the board”

Form 990, Part VI, Section A, Line 7B

“Subject to approval of membership”

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

“Presented and reviewed by the board prior to submission”

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

“All board members are required to disclose conflicts as they arise”

Form 990, Part VI, Section C, Line 19

“Available at offices and filed with the minnesota attorney general.”

Filing and Contact Details

Filer

Filer Name
Minnesota Education Trust
EIN
83-0473561
Phone
6516476250
Address
711 SMITH AVENUE SOUTH, ST PAUL, MN 55107

Signing Officer

Name
Dr Asif Rahman
Title
President
Phone
6516476250
Signed
2022-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Asif Rahman
Formed
2007
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
3
Employees
2
Volunteers
5

Preparer

Firm
Carpenter Evert & Associates Ltd
Address
7760 FRANCE AVE S SUITE 940, BLOOMINGTON, MN 55435
Preparer
Neal Evert
Phone
9528310085
Raw XML Appendix343 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/ExplanationTxt0OUR MEMBERS REFLECT THE COMMUNITY WE SERVE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS MAY ELECT THE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SUBJECT TO APPROVAL OF MEMBERSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PRESENTED AND REVIEWED BY THE BOARD PRIOR TO SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS AS THEY ARISE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE AT OFFICES AND FILED WITH THE MINNESOTA ATTORNEY GENERAL.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt033208
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01390193
IRS990/TotalFunctionalExpensesGrp/TotalAmt01423401
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0109047
IRS990/TotalLiabilitiesEOYAmt0-27262
IRS990/TotalLiabilitiesGrp/BOYAmt0109047
IRS990/TotalLiabilitiesGrp/EOYAmt0-27262
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011715701
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt012263208
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IRS990/TotalProgramServiceExpensesAmt01390193
IRS990/TotalProgramServiceRevenueAmt01200063
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IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01200063
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01363771
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011824748
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012235946
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
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IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-09
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055435
ReturnHeader/PreparerPersonGrp/PhoneNum09528310085
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NEAL EVERT
ReturnHeader/ReturnTs02022-11-10T11:10:10-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DR
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ASIF RAHMAN
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,235,946
Liabilities
-$27,262
Net assets
$12,263,208
Revenue
$1,363,771
Expenses
$1,423,401
Net income
-$59,630
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.2$0.07$11.1$1.98$2.36$0.38
2021Detailed filing. Detailed filing data is available for this year.$12.2$0.03$12.3$1.36$1.42$0.06
2020Detailed filing. Detailed filing data is available for this year.$11.8$0.11$11.7$1.19$0.85$0.34
2019Detailed filing. Detailed filing data is available for this year.$11.1$0.19$10.9$1.15$1.42$0.26
2018Summary only. Only limited summary data is available for this year.$11.2$0.14$11.1$2.03$1.84$0.19
2017Detailed filing. Detailed filing data is available for this year.$11.1$0.10$11.0$2.08$2.46$0.38
2016Detailed filing. Detailed filing data is available for this year.$11.3$0.12$11.1$5.65$2.46$3.19
2015Detailed filing. Detailed filing data is available for this year.$8.05$0.11$7.94$2.48$1.06$1.42
2014Detailed filing. Detailed filing data is available for this year.$6.68$0.07$6.61$0.60$0.84$0.24
2013Detailed filing. Detailed filing data is available for this year.$6.91$0.07$6.84$0.46$0.93$0.47
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.06$0.04$7.03$0.57
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.83$0.07$5.75$0.35
2010Summary only. Only limited summary data is available for this year.$5.42$0.00$5.42$1.04$0.19$0.85