Minnesota Social Impact Center
- Assets
- $217.4k
- Revenue
- $375.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Minneapolis, MN
- Founding
- 09/2009
- Data as of
- 12/2021
- EIN
- 27-0540267
Organization Overview
Minnesota Social Impact Center, operating under the name Impact Hub Msp, is located in Minneapolis, MN. The organization was established in 2009. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2021, Impact Hub Msp employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Impact Hub Msp 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 12/2021, Impact Hub Msp generated $375.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $368.8k during the year ending 12/2021. While expenses have increased by 8.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ACCELERATE SOCIAL IMPACT ACHIEVED BY ENTREPRENEURS, CREATIVES, AND CHANGE MAKERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL ENTREPRENEURSHIP SUPPORT: PROVIDE CO-WORKING SPACE, ACCESS TO EXPERTS, SPECIALIZED TRAININGS, AND CONNECTIONS TO OTHER ENTREPRENEURS AROUND THE WORLD AS WELL AS IDENTIFYING AND ENGAGING RESOURCES AND INSTITUTIONS THAT SUPPORT SOCIAL ENTREPRENEURS TO INCREASE THE BREADTH OF SERVICES IN THE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katie Kalkman Executive Director | Officer | 32 | $80,000 |
Judy Jandro Treasurer | OfficerTrustee | 1.5 | $0 |
Michelle Maryns Secretary | OfficerTrustee | 1.5 | $0 |
Ted Carling Vice Chair | OfficerTrustee | 1.5 | $0 |
Kate Dehmer Board Chair | OfficerTrustee | 2.5 | $0 |
Kayla Yang-Best Director | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $22,428 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $69,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $145,110 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $236,838 |
| Total Program Service Revenue | $139,049 |
| Investment income | $0 |
| 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 | $375,887 |
| 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. | $80,000 |
| Compensation of current officers, directors, key employees. | $21,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,600 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,986 |
| Payroll taxes | $27,791 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,663 |
| Advertising and promotion | $299 |
| Office expenses | $148 |
| Information technology | $2,518 |
| Royalties | $0 |
| Occupancy | $94,464 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $788 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,268 |
| Insurance | $3,916 |
| All other expenses | $0 |
| Total functional expenses | $368,754 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,881 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $50,000 |
| Accounts receivable, net | $121,000 |
| 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 | $3,216 |
| Net Land, buildings, and equipment | $21,256 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $217,353 |
| Accounts payable and accrued expenses | $24,881 |
| Grants payable | $0 |
| Deferred revenue | $3,333 |
| 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 | $190,258 |
| Other liabilities | $0 |
| Total liabilities | $218,472 |
| Net assets without donor restrictions | -$77,786 |
| Net assets with donor restrictions | $76,667 |
| 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 | $217,353 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Minnesota Social Impact Center has recieved totaling $185,000.
| Awarding Organization | Amount |
|---|---|
Mary T And James J Hill Library Foundation St Paul, MN PURPOSE: GENERAL OPERATING | $120,000 |
Bush Foundation St Paul, MN PURPOSE: THIS ECOSYSTEM GRANT PROVIDES GENERAL OPERATING SUPPORT FOR IMPACT HUB TO HELP ADVANCE ITS CHARITABLE MISSION | $50,000 |
Otto Bremer Trust St Paul, MN PURPOSE: INTERNS FOR IMPACT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wallin Education Partners St Paul, MN | $25,848,040 | $10,926,258 |
New American Development Center Minneapolis, MN | $3,930,676 | $9,122,032 |
Bluesky Charter School Bloomington, MN | $6,912,497 | $6,906,603 |
Us Math Recovery Council Eagan, MN | $3,296,483 | $6,771,005 |
Racine Charter One Inc Racine, WI | $5,378,275 | $6,487,272 |
Woodbury Leadership Academy Woodbury, MN | $4,350,331 | $5,912,313 |
Uw-Platteville Real Estate Foundation Inc Platteville, WI | $45,856,338 | $5,901,983 |
Barr Center St Louis Park, MN | $8,287,138 | $8,108,042 |
Great Mn Schools Minneapolis, MN | $411,897 | $3,619,260 |
Iowa Western Community College Foundation Council Bluffs, IA | $36,011,501 | $4,880,435 |
West River Foundation Sturgis, SD | $7,568,333 | $3,921,124 |
Sicangu Owayawa Oti-Rosebud Dormitory Mission, SD | $5,924,789 | $2,325,210 |