Microgrants
- Assets
- $851.5k
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 8
- Location
- Minneapolis, MN
- Founding
- 01/2007
- Data as of
- 12/2023
- EIN
- 20-4092394
Organization Overview
Microgrants is located in Minneapolis, MN. The organization was established in 2007. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Microgrants employed 8 individuals. This organization is the central organization for a national or regional group of organizations. Microgrants is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Microgrants generated $1.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $2.3m during the year ending 12/2023. While expenses have increased by 13.2% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SPUR ECONOMIC SELF-SUFFICIENCY BY GIVING GRANTS TO LOW-INCOME PEOPLE OF POTENTIAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIGHTS ON!: LIGHTS ON! IS AN AWARD-WINNING PROGRAM WITH THE MISSION TO HEAL POLICE-COMMUNITY RELATIONSHIPS. THE PROGRAM WAS FOUNDED IN 2017 AFTER THE UNNECESSARY DEATH OF PHILANDO CASTILE WHO WAS SHOT DURING A TRAFFIC STOP. THE POLICE RATIONALE FOR THE STOP WAS A BROKEN TAIL LIGHT AND THAT SPARK INSPIRED THE SIMPLE, YET POWERFUL CONCEPT FOR THE LIGHTS ON! PROGRAM - REPLACE EQUIPMENT VIOLATION TICKETS WITH VOUCHERS FOR FREE REPAIRS. TRAFFIC STOPS ARE OFTEN A SOURCE OF STRESS, BOTH FOR OFFICERS AND DRIVERS. LIGHTS ON! TURNS THE DREADED TRAFFIC STOP INTO A POSITIVE, RESTORATIVE INTERACTION AND AVOIDS PENALIZING LOW-INCOME INDIVIDUALS FOR VEHICLE CONDITIONS.
MICROGRANTS DISTRIBUTES TIMELY MICROGRANTS, BETWEEN $1,000 - $3,000, TO TO LOW-INCOME PEOPLE OF POTENTIAL. THESE INDIVIDUALS ARE IDENTIFIED BY MICROGRANTS' PARTNER AGENCIES, A NETWORK OF 50 TWIN CITIES NONPROFITS. BASED ON THEIR LONG-TERM RELATIONSHIPS WITH PARTICIPANTS, STAFF AT PARTNER AGENCIES RECOMMEND INDIVIDUALS WHO WOULD BENEFIT FROM A MICROGRANT TO REACH THEIR GOALS IN THREE INTERRELATED AREAS: BUSINESS GRANTS, EDUCATION GRANTS, AND TRANSPORTATION GRANTS. IN 2023, MICROGRANTS PROVIDED 156 TRANSPORTATION GRANTS TOTALING OVER $346K, 143 BUSINESS GRANTS TOTALING $433K AND 131 EDUCATION GRANTS OF OVER $197K.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Welch Board Chair | OfficerTrustee | 0.25 | $0 |
Al Lenzmeier Treasurer | OfficerTrustee | 0.25 | $0 |
Joe Selvaggio Director | Trustee | 0.25 | $0 |
Don Hall Director | Trustee | 0.25 | $0 |
Abou Amara Director | Trustee | 0.25 | $0 |
Keiona Cook Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $7,500 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,900,777 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,908,277 |
| Total Program Service Revenue | $0 |
| Investment income | $3,365 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,465 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,910,177 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,320,103 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $135,126 |
| Compensation of current officers, directors, key employees. | $6,986 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $350,657 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,562 |
| Payroll taxes | $45,644 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $73,047 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $146,094 |
| Advertising and promotion | $0 |
| Office expenses | $79,058 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,532 |
| Travel | $47,758 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $900 |
| Insurance | $3,534 |
| All other expenses | $0 |
| Total functional expenses | $2,259,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $482,526 |
| Savings and temporary cash investments | $96,709 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $255,171 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,349 |
| Net Land, buildings, and equipment | $1,537 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,176 |
| Total assets | $851,468 |
| Accounts payable and accrued expenses | $26,183 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,497 |
| Total liabilities | $37,680 |
| Net assets without donor restrictions | $420,101 |
| Net assets with donor restrictions | $393,687 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $851,468 |