Civic Intelligence

3M Open Fund

990 • Fiscal year 2023 • EIN 83-0995816

Oct 01, 2022 to Sep 30, 2023 • Filed on Aug 12, 2024

Organization ProfileWWW.3MOPEN.COM/3M-OPEN-FUND
11074 Radisson Road NortheastBlaine, MN 55449

(763) 783-9000

Siviq Scores

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

Liabilities / Assets

99th percentile

2.17x

Higher debt load relative to assets than 99% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

62nd percentile

0.40x

Higher debt load relative to revenue than 62% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

59th percentile

7.6%

Higher net margin than 59% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

75th percentile

18%

Faster asset growth than 75% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

57th percentile

9.3%

Faster revenue growth than 57% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets99th percentile

Assets

Up

$3,728,231

Up $557,157 (+18%) from 2022

Net Assets

Up

-$4,351,448

Up $1,529,925 (+26%) from 2022

Liabilities

Down

$8,079,679

Down $972,768 (-11%) from 2022

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin59th percentile

Revenue

Up

$20,061,297

Up $1,708,507 (+9.3%) from 2022

Expenses

Up

$18,531,372

Up $940,841 (+5.3%) from 2022

Net Income

Up

$1,529,925

Up $767,666 (+101%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$15M$10M$5.0M$0-$5.0M-$10MAssets 2019: $4,682,267Liabilities 2019: $11,071,104Net Assets 2019: -$6,388,8372019Assets 2020: $5,296,267Liabilities 2020: $11,870,023Net Assets 2020: -$6,573,7562020Assets 2021: $2,792,523Liabilities 2021: $9,436,155Net Assets 2021: -$6,643,6322021Assets 2022: $3,171,074Liabilities 2022: $9,052,447Net Assets 2022: -$5,881,3732022Assets 2023: $3,728,231Liabilities 2023: $8,079,679Net Assets 2023: -$4,351,4482023Assets 2024: $6,728,926Liabilities 2024: $11,472,766Net Assets 2024: -$4,743,8402024

Highlighted filing

2023

Assets$3,728,231
Liabilities$8,079,679
Net Assets-$4,351,448
Open 2023 Filing

Operations Trend

Revenue Growth57th percentile

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

$30M$20M$10M$0-$10MRevenue 2019: $10,455,827Expenses 2019: $16,732,498Net Income 2019: -$6,276,6712019Revenue 2020: $9,346,112Expenses 2020: $9,531,031Net Income 2020: -$184,9192020Revenue 2021: $13,492,516Expenses 2021: $13,562,392Net Income 2021: -$69,8762021Revenue 2022: $18,352,790Expenses 2022: $17,590,531Net Income 2022: $762,2592022Revenue 2023: $20,061,297Expenses 2023: $18,531,372Net Income 2023: $1,529,9252023Revenue 2024: $19,392,834Expenses 2024: $19,422,813Net Income 2024: -$29,9792024

Highlighted filing

2023

Revenue$20,061,297
Expenses$18,531,372
Net Income$1,529,925
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Aug 12, 2024
Return Version
2022v5.0
Gross Receipts
$20,061,297
Mission and Program Overview

Mission

3m open fund is a nonprofit organization created to run an annual pga tour sanctioned professional golf tournament that will contribute positively to the life in the community through donations of the net proceeds from the event.

3m open fund is a nonprofit organization created to run an annual pga tour sanctioned professional golf tournament for charity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$1,537,032$1,580,409▲ $43,377
Land, Buildings, and Equipment, Net$1,406,417$971,387▼ $435,030
Cash and Non-Interest-Bearing Accounts$199,752$794,508▲ $594,756
Prepaid Expenses and Deferred Charges$27,873$27,289▼ $584
Total Assets$3,171,074$3,728,231▲ $557,157
Other Assets Total$0$354,638▲ $354,638
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,600,000$5,885,000▼ $715,000
Accounts Payable and Accrued Expenses$2,452,447$1,839,096▼ $613,351
Other Liabilities$0$355,583▲ $355,583
Total Liabilities$9,052,447$8,079,679▼ $972,768
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-5,881,373$-4,351,448▲ $1,529,925
Total Net Assets Fund Balance$-5,881,373$-4,351,448▲ $1,529,925
Total Liabilities and Net Assets / Fund Balance$3,171,074$3,728,231▲ $557,157

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$744,245$1,408,428$2,152,673
Other Land Buildings$210,560$317,159$527,719
Equipment$16,582$28,217$44,799
Other Assets Org$354,638--
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Jeff LaversPresident
Aria SameniDirector
Carrie HiggsDirector
James MomanDirector
Jim FallDirector
Joe PaulDirector
John BanovetzDirector
Jon NudiDirector
Mike PageDirector
Randall McdanielDirector
Jennifer HinesAssistant Secretary
Kady StollSecretary
Don AshtonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,501,981
Program Service Revenue
$13,080,696
Investment Income
$0
Other Revenue
$478,620
All Other Contributions
$6,501,981
Change in Net Assets
$1,529,925

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,061,297
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$20,061,297
Total Revenue per Form 990
$20,061,297
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$17,415,997
Total Fundraising Expense$1,680,604
Grants and Similar Amounts Paid$1,115,375
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,306,376$186,625$373,250$1,866,251
All Other Expenses$802,102$132,422$203,575$1,138,099
Grants to Domestic Orgs$1,115,375--$1,115,375
Other Expenses$487,825$54,203$122,723$542,028
Depreciation Depletion$304,521$43,503$87,006$435,030
Advertising$40,586$40,586$324,684$405,856
Office Expenses$100,898$199,114$103,576$403,588
Interest$223,709$31,958$63,917$319,584
Occupancy$46,257$92,514$46,257$185,028
Travel$15,689$15,689$31,379$62,757
Insurance$19,258$2,751$5,502$27,511
Fees for Services Accounting$3,850$550$1,100$5,500
Total Functional Expenses$15,354,221$1,496,547$1,680,604$18,531,372

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$18,531,372
Total Expenses per Audited Statements$18,531,372
Total Expenses per Form 990$18,531,372
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
M HEALTH FAIRVIEW MASONIC CHILDREN'S HOSPITALMinneapolis, MN-Direct Grant$365,000
Pga Tour First Tee Foundation IncPonte Vedra Beach, FL-Direct Grant$260,000
Greater Twin Cities United WayMinneapolis, MN-Direct Grant$50,000
The Minneapolis FoundationMinneapolis, MN-Direct Grant$50,000
World Golf Hall of FameSt Augustine, FL-Direct Grant$50,000
Spring Lake Park Fire Dept IncSpring Lake Park, MN-Direct Grant$30,760
Pga Reach MinnesotaCoon Rapids, MN-Direct Grant$30,000
Folds of HonorOwasso, OK-Direct Grant$28,000
Allina Health SystemsMinneapolis, MN-Direct Grant$25,000
Blaine Police ExplorersMinneapolis, MN-Direct Grant$21,250
Minnesota Minority Junior Golf AssociationMinneapolis, MN-Direct Grant$20,500
Lunar IncSt Paul, MN-Direct Grant$20,000
Cub FoundationEast Palo Alto, CA-Direct Grant$15,000
Roho CollectiveMinneapolis, MN-Direct Grant$15,000
National Sports CenterBlaine, MN-Direct Grant$12,000
Ywca of MinneapolisMinneapolis, MN-Direct Grant$10,000
Twin Cities Film FestSt Louis Park, MN-Direct Grant$8,500
Tb1 FundBlaine, MN-Direct Grant$6,020
Spectrum GolfCoral Springs, FL-Direct Grant$5,969
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

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
Lease Liability$355,583
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
No
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 B, Line 11B

“Form 990 is reviewed and signed by the board of directors.”

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

“The organization monitors and enforces the conflict of interest policy through regular inquiries made by the board of directors.”

Form 990, Part VI, Section C, Line 19

“This information is available upon request.”

Filing and Contact Details

Filer

Filer Name
3m Open Fund
EIN
83-0995816
Phone
7637839000
Address
11074 RADISSON ROAD NORTHEAST, BLAINE, MN 55449

Signing Officer

Name
Kady Stoll
Title
Secretary
Phone
7637839000
Signed
2024-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kady Stoll
Formed
2018
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
12
Volunteers
1,350

Preparer

Firm
Copeland Buhl & Company Pllp
Address
3033 CAMPUS DRIVE SUITE E590, PLYMOUTH, MN 55441
Preparer
Mitchell Giese
Phone
9524767100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contract services: program service expenses 1,306,376. Management and general expenses 186,625. Fundraising expenses 373,250. Total expenses 1,866,251.”

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IRS990/OccupancyGrp/FundraisingAmt046257
IRS990/OccupancyGrp/ManagementAndGeneralAmt092514
IRS990/OccupancyGrp/ProgramServicesAmt046257
IRS990/OccupancyGrp/TotalAmt0185028
IRS990/OfficeExpensesGrp/FundraisingAmt0103576
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0199114
IRS990/OfficeExpensesGrp/ProgramServicesAmt0100898
IRS990/OfficeExpensesGrp/TotalAmt0403588
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IRS990/OperateHospitalInd00
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IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0SUPPLY COSTS
IRS990/OtherExpensesGrp/Desc1TOURNAMENT EXPENSES
IRS990/OtherExpensesGrp/Desc2ADMISSIONS FULFILLMENT
IRS990/OtherExpensesGrp/Desc3PLAYER HOSPITALITY
IRS990/OtherExpensesGrp/FundraisingAmt0317635
IRS990/OtherExpensesGrp/FundraisingAmt1122723
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0635271
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt161361
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt254203
IRS990/OtherExpensesGrp/ProgramServicesAmt05399803
IRS990/OtherExpensesGrp/ProgramServicesAmt15058442
IRS990/OtherExpensesGrp/ProgramServicesAmt2429530
IRS990/OtherExpensesGrp/ProgramServicesAmt3487825
IRS990/OtherExpensesGrp/TotalAmt06352709
IRS990/OtherExpensesGrp/TotalAmt15058442
IRS990/OtherExpensesGrp/TotalAmt2613614
IRS990/OtherExpensesGrp/TotalAmt3542028
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt0355583
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0478620
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0478620
IRS990/OtherRevenueTotalAmt0478620
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01537032
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01580409
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt027873
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt027289
IRS990/PrincipalOfficerNm0KADY STOLL
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IRS990/ProgramServiceRevenueGrp/Desc2CONCESSIONS, CATERING, AND PARKIN
IRS990/ProgramServiceRevenueGrp/Desc3TICKET SALES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11383107
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2775702
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3662362
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt010259525
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11383107
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2775702
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3662362
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IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05481056
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt01571844
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt016018687
IRS990/PYOtherRevenueAmt0317460
IRS990/PYProgramServiceRevenueAmt012554274
IRS990/PYRevenuesLessExpensesAmt0762259
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt017590531
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt018352790
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01529925
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt013559316
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt06501981
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt05481056
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt03000000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt07801000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt03175000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt025959037
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt013080696
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt012554273
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt010173816
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01415434
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt07280827
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt044505046
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0478620
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0317460
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt060397
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0129678
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0986155
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98620
IRS990ScheduleA/PublicSupportPY509Pct00.99010
IRS990ScheduleA/PublicSupportTotal509Amt070464083
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt09216434
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt010455827
IRS990ScheduleA/Total509Grp/TotalAmt070464083
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt020061297
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt013234213
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt09346112
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt010455827
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt071450238
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt016582
IRS990ScheduleD/EquipmentGrp/DepreciationAmt028217
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt044799
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt018531372
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0744245
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01408428
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt02152673
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0354638
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0RIGHT OF USE ASSET
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0210560
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0317159
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0527719
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0355583
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABILITY
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt0971387
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0354638
IRS990ScheduleD/TotalExpensesPerForm990Amt018531372
IRS990ScheduleD/TotalLiabilityAmt0355583
IRS990ScheduleD/TotalRevenuePerForm990Amt020061297
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt020061297

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Filings

Displayed year

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

Open filing
Assets
$3,728,231
Liabilities
$8,079,679
Net assets
-$4,351,448
Revenue
$20,061,297
Expenses
$18,531,372
Net income
$1,529,925
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.73$11.5$4.74$19.4$19.4$0.03
2023Detailed filing. Detailed filing data is available for this year.$3.73$8.08$4.35$20.1$18.5$1.53
2022Detailed filing. Detailed filing data is available for this year.$3.17$9.05$5.88$18.4$17.6$0.76
2021Detailed filing. Detailed filing data is available for this year.$2.79$9.44$6.64$13.5$13.6$0.07
2020Detailed filing. Detailed filing data is available for this year.$5.30$11.9$6.57$9.35$9.53$0.18
2019Detailed filing. Detailed filing data is available for this year.$4.68$11.1$6.39$10.5$16.7$6.28