Minnesota Forest Industries Inc
- Assets
- $518.0k
- Revenue
- $742.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Duluth, MN
- Founding
- 02/1973
- Data as of
- 12/2023
- EIN
- 41-0626915
Organization Overview
Minnesota Forest Industries Inc is located in Duluth, MN. The organization was established in 1973. According to its NTEE Classification (C99) the organization is classified as: Environment N.E.C., under the broad grouping of Environment and related organizations. As of 12/2023, Minnesota Forest Industries Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Forest Industries Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Minnesota Forest Industries Inc generated $742.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $756.9k during the year ending 12/2023. While expenses have increased by 0.2% 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
TO INFORM AND EDUCATE THE PUBLIC ABOUT FOREST INDUSTRIES PRACTICES IN MINNESOTA
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Parma Director | Trustee | 1 | $0 |
Chris Hegg Director | Trustee | 1 | $0 |
Eric Todd Director | Trustee | 1 | $0 |
Brian Bignall Director | Trustee | 1 | $0 |
Tom Radovich Director/president | OfficerTrustee | 1 | $0 |
Quintin Legler Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $729,501 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,108 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $736,609 |
| Total Program Service Revenue | $0 |
| Investment income | $4,670 |
| 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 | $742,115 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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. | $193,913 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $87,404 |
| Pension plan accruals and contributions | -$1,394 |
| Other employee benefits | -$2,064 |
| Payroll taxes | $18,132 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,148 |
| Fees for services: Accounting | $30,644 |
| Fees for services: Lobbying | $115,048 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $27,559 |
| Information technology | $6,319 |
| Royalties | $0 |
| Occupancy | $15,512 |
| Travel | $41,831 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,859 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,888 |
| All other expenses | $750 |
| Total functional expenses | $756,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,359 |
| Savings and temporary cash investments | $361,381 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,375 |
| 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 | $5,862 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $517,977 |
| Accounts payable and accrued expenses | $15,399 |
| 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 | $0 |
| Total liabilities | $15,399 |
| Net assets without donor restrictions | $0 |
| 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 | $502,578 |
| Total liabilities and net assets/fund balances | $517,977 |