Civic Intelligence

Mnic Building Company

EIN 86-3182133 • 501(c)3 • Minneapolis, MN

Pub. 78 Eligible

Profile

To operate exclusively as a supporting organization to mnic by seeking, purchasing and renovating for mnic.

2507 Fremont Ave NoMinneapolis, MN 55411

www.mnic.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

94th percentile

1.05x

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

501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

99th percentile

12.96x

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

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

6th percentile

-53%

Higher net margin than 6% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

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

Source year 2022

Revenue Growth

Score unavailable

No value available

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

Source year 2022

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$2,491,647

Down $55,430 (-2.2%) from 2023

Liabilities

Down

$2,573,249

Down $77,734 (-2.9%) from 2023

Net Assets

Up

-$81,602

Up $22,304 (+21%) from 2023

Operations
Liabilities / Revenue99th percentileNet Margin6th percentile

Revenue

Down

$219,003

Down $39,013 (-15%) from 2023

Expenses

Down

$196,699

Down $43,971 (-18%) from 2023

Net Income

Up

$22,304

Up $4,958 (+29%) from 2023

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2022: $2,610,967Liabilities 2022: $2,732,219Net Assets 2022: -$121,2522022Assets 2023: $2,547,077Liabilities 2023: $2,650,983Net Assets 2023: -$103,9062023Assets 2024: $2,491,647Liabilities 2024: $2,573,249Net Assets 2024: -$81,6022024

Highlighted filing

2024

Assets$2,491,647
Liabilities$2,573,249
Net Assets-$81,602
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200KRevenue 2022: $210,783Expenses 2022: $323,405Net Income 2022: -$112,6222022Revenue 2023: $258,016Expenses 2023: $240,670Net Income 2023: $17,3462023Revenue 2024: $219,003Expenses 2024: $196,699Net Income 2024: $22,3042024

Highlighted filing

2024

Revenue$219,003
Expenses$196,699
Net Income$22,304
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$2,491,647
Liabilities
$2,573,249
Net assets
-$81,602
Revenue
$219,003
Expenses
$196,699
Net income
$22,304
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.49$2.57$0.08$0.22$0.20$0.02
2023Detailed filing. Detailed filing data is available for this year.$2.55$2.65$0.10$0.26$0.24$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.61$2.73$0.12$0.21$0.32$0.11
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Feb 11, 2025
Return Version
2023v6.0
Gross Receipts
$219,003
Mission and Program Overview

Mission

To operate exclusively as a supporting organization to mnic by seeking, purchasing and renovating for mnic.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,495,746$2,421,141▼ $74,605
Cash and Non-Interest-Bearing Accounts-$55,655-
Savings and Temporary Cash Investments$51,145$14,665▼ $36,480
Prepaid Expenses and Deferred Charges$186$186→ $0
Total Assets$2,547,077$2,491,647▼ $55,430
Liabilities
Unsecured Notes Loans Payable$2,629,342$2,554,804▼ $74,538
Deferred Revenue$18,250$18,250→ $0
Accounts Payable and Accrued Expenses$3,391$195▼ $3,196
Total Liabilities$2,650,983$2,573,249▼ $77,734
Net Assets / Fund Balance
Net Assets With Donor Restrictions$29,504$51,875▲ $22,371
Net Assets Without Donor Restrictions$-133,410$-133,477▼ $67
Total Net Assets Fund Balance$-103,906$-81,602▲ $22,304
Total Liabilities and Net Assets / Fund Balance$2,547,077$2,491,647▼ $55,430

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,326,722$188,653$2,515,375
Other Land Buildings$94,419$15,691$110,110
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleOtherTotal
Reginal WomackAssistant Treasurer$146,113$146,113
Paul EatonChair & President/CEO$85,918$85,918
Aaron StinarTreasurer/CFO$81,252$81,252
DeMarcus GreenVice-Chair, Secretary$35,321$35,321
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$219,000
Investment Income
$3
Other Revenue
$0
Change in Net Assets
$22,304
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$196,699
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$93,726--$93,726
Depreciation Depletion$74,605--$74,605
Insurance$10,601--$10,601
Fees for Services Other$375$6,497-$6,872
Fees for Services Accounting-$1,997-$1,997
Other Expenses$372$27-$372
Total Functional Expenses$188,178$8,521$0$196,699
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
No
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 6

“The sole member of the Organization is Minnesota Internship Center.”

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

“The member has the power to elect the directors of the organization.”

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

“Changes or amendments to the bylaws by the board are subject to the power of the member of the Organization that may alter or repeal the bylaws.”

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

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

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

“The 990 is sent to the board members prior to presenting the 990 to the board during a board meeting. The 990 is approved by the board before filing the informational return with the IRS.”

Form 990, Part VI, Section C, line 19

“The Building Company makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
MNIC Building Company
EIN
86-3182133
Phone
6125881449
Address
2507 Fremont Ave No, Minneapolis, MN 55411

Signing Officer

Name
Paul Eaton
Title
Board Chair
Phone
6125881449
Signed
2025-02-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Eaton
Formed
2021
Legal Domicile
Mn
Voting Board Members
4
Independent Board Members
0
Employees
0
Volunteers
4

Preparer

Firm
Abdo LLP
Address
5201 Eden Ave Ste 250, Edina, MN 55436
Preparer
Steven D Anseth CPA
Phone
9528359090
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C:

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

Financial Statement Notes

Part X, Line 2:

“The Charter School is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The Charter School also qualifies as a tax-exempt organization under applicable statutes of the State of Minnesota. Management believes that it is not reasonably possible for any tax position benefits to increase or decrease significantly over the next 12 months. As of June 30, 2024, there were no income tax related accrued interest or penalties recognized in either the statement of financial position or the statement of activities. The Charter School files informational returns in the U.S. federal jurisdiction, and in the Minnesota state jurisdiction. U.S. federal returns and Minnesota returns for the prior three fiscal years are closed. No returns are currently under examination in any tax jurisdiction.”

Raw XML Appendix384 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/ExplanationTxt0The Charter School is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The Charter School also qualifies as a tax-exempt organization under applicable statutes of the State of Minnesota. Management believes that it is not reasonably possible for any tax position benefits to increase or decrease significantly over the next 12 months. As of June 30, 2024, there were no income tax related accrued interest or penalties recognized in either the statement of financial position or the statement of activities. The Charter School files informational returns in the U.S. federal jurisdiction, and in the Minnesota state jurisdiction. U.S. federal returns and Minnesota returns for the prior three fiscal years are closed. No returns are currently under examination in any tax jurisdiction.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The sole member of the Organization is Minnesota Internship Center.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The member has the power to elect the directors of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Changes or amendments to the bylaws by the board are subject to the power of the member of the Organization that may alter or repeal the bylaws.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization does not have any committees with authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The 990 is sent to the board members prior to presenting the 990 to the board during a board meeting. The 990 is approved by the board before filing the informational return with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Building Company makes its governing documents, conflict of interest policy and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The process has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XII, Line 2c:
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02507 Fremont Avenue North
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Minneapolis
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
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IRS990ScheduleR/PaidEmployeesSharingInd01
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd01
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IRS990/SchoolOperatingInd00
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IRS990/StatesWhereCopyOfReturnIsFldCd0MN
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
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IRS990/TotalAssetsBOYAmt02547077
IRS990/TotalAssetsEOYAmt02491647
IRS990/TotalAssetsGrp/BOYAmt02547077
IRS990/TotalAssetsGrp/EOYAmt02491647
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08521
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0188178
IRS990/TotalFunctionalExpensesGrp/TotalAmt0196699
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02650983
IRS990/TotalLiabilitiesEOYAmt02573249
IRS990/TotalLiabilitiesGrp/BOYAmt02650983
IRS990/TotalLiabilitiesGrp/EOYAmt02573249
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-103906
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-81602
IRS990/TotalOtherCompensationAmt057775
IRS990/TotalProgramServiceExpensesAmt0188178
IRS990/TotalProgramServiceRevenueAmt0219000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt03
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0219000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0219003
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02547077
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02491647
IRS990/TotReportableCompRltdOrgAmt0290829
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt02629342
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt02554804
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02507 Fremont Ave No
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IRS990/VotingMembersGoverningBodyCnt04
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IRS990/WebsiteAddressTxt0www.mnic.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Paul Eaton
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Chair
ReturnHeader/BusinessOfficerGrp/PhoneNum06125881449
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-02-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MNIC Building Company
ReturnHeader/Filer/BusinessNameControlTxt0MNIC
ReturnHeader/Filer/EIN0863182133
ReturnHeader/Filer/PhoneNum06125881449
ReturnHeader/Filer/USAddress/AddressLine1Txt02507 Fremont Ave No
ReturnHeader/Filer/USAddress/CityNm0Minneapolis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055411
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411397419
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Abdo LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05201 Eden Ave Ste 250
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Edina
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055436
ReturnHeader/PreparerPersonGrp/PhoneNum09528359090
ReturnHeader/PreparerPersonGrp/PreparationDt02025-02-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Steven D Anseth CPA
ReturnHeader/ReturnTs02025-02-12T08:39:52-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

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