Midwest Renewable Energy Tracking System Inc
- Assets
- $5.6m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 16
- Location
- Minneapolis, MN
- Founding
- 12/2009
- Data as of
- 12/2022
- EIN
- 26-3251122
Organization Overview
Midwest Renewable Energy Tracking System Inc, operating under the name M-Rets, is located in Minneapolis, MN. The organization was established in 2009. According to its NTEE Classification (C20) the organization is classified as: Pollution Abatement & Control, under the broad grouping of Environment and related organizations. As of 12/2022, M-Rets employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. M-Rets is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, M-Rets generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 24.7% each year . All expenses for the organization totaled $3.8m during the year ending 12/2022. While expenses have increased by 14.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MIDWEST RENEWABLE ENERGY TRACKING SYSTEM (M-RETS) IS A NON-PROFIT 501 C (4) ORGANIZATION HEADQUARTERED IN MINNEAPOLIS, MINNESOTA. M-RETS IS A WEB-BASED SYSTEM USED BY POWER GENERATORS, UTILITIES, MARKETERS, AND QUALIFIED REPORTING ENTITIES. M-RETS REGISTERS PROJECTS IN ALL STATES AND PROVINCES ACROSS NORTH AMERICA. M-RETS TRACKS RENEWABLE ENERGY CERTIFICATES (RECS) AND RENEWABLE THERMAL CERTIFICATES (RTCS) AND FACILITATES REC AND RTC TRANSACTIONS BY ISSUING A UNIQUE, TRACEABLE DIGITAL CERTIFICATE FOR EVERY MEGAWATT-HOUR (MWH) OF RENEWABLE ENERGY GENERATED BY REGISTERED UNITS OR IMPORTED INTO ITS SYSTEM. M-RETS USERS RETIRE RECS AND RTCS TO COMPLY WITH STATE POLICY OR TO SERVE THE VOLUNTARY MARKET AND TO ENSURE THAT RECS ARE NOT DOUBLE-COUNTED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Nelson Vice Chair | Trustee | 1 | $0 |
Andy Kellen Director | Trustee | 1 | $0 |
Jim Jones Treasurer | Trustee | 1 | $0 |
Leanne Shewchuk Secretary | Trustee | 1 | $0 |
Renee Colbert Cooperative Seat | Trustee | 1 | $0 |
Tyler Meulemans Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tarmac Llc Software Development | 12/30/22 | $1,086,589 |
Vincentbenjamin Phoenix Llc Quality Assurance | 12/30/22 | $326,218 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,832,074 |
| Investment income | $16,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,848,672 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,471,796 |
| Compensation of current officers, directors, key employees. | $371,797 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $95,253 |
| Payroll taxes | $139,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,018 |
| Fees for services: Accounting | $15,066 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,629,191 |
| Advertising and promotion | $0 |
| Office expenses | $74,185 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $70,528 |
| Travel | $49,483 |
| 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 | $170,753 |
| Insurance | $40,646 |
| All other expenses | $58,163 |
| Total functional expenses | $3,821,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,916 |
| Savings and temporary cash investments | $4,035,061 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $252,903 |
| 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 | $93,869 |
| Net Land, buildings, and equipment | $1,088,894 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,568,643 |
| Accounts payable and accrued expenses | $499,141 |
| Grants payable | $0 |
| Deferred revenue | $218,959 |
| 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 | $0 |
| Total liabilities | $718,100 |
| Net assets without donor restrictions | $4,850,543 |
| Net assets with donor restrictions | $0 |
| 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 | $5,568,643 |