Greater Minneapolis Building Owners & Managers Association
- Assets
- $1.1m
- Revenue
- $899.8k
- Investments
- $0.0
- Employees
- 5
- Location
- Minneapolis, MN
- Founding
- 03/1948
- Data as of
- 12/2021
- EIN
- 41-0668016
Organization Overview
Greater Minneapolis Building Owners & Managers Association is located in Minneapolis, MN. The organization was established in 1948. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Greater Minneapolis Building Owners & Managers Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Minneapolis Building Owners & Managers Association 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 12/2021, Greater Minneapolis Building Owners & Managers Association generated $899.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $923.5k during the year ending 12/2021. 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
BUSINESS ASSOCIATION FOR REAL ESTATE MANAGERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION PROVIDES EDUCATIONAL PROGRAMS AND SERVICES RELATIVE TO THE OWNERSHIP AND OPERATIONS OF BUILDINGS TO ITS MEMBERS. THE ASSOCIATION HELD APPROXIMATELY 18 EDUCATIONAL MEETINGS PROVIDING A TOTAL OF 10 CEU'S TO OUR MEMBERS. WE HELD 4 NETWORKING EVENTS FOR OUR MEMBERS, INCLUDING A GALA AWARDS EVENT. WE PUBLISHED 4 QUARTERLY NEWSLETTERS. DURING 2021, THE ORGANIZATION HAD 446 INDIVIDUAL MEMBERS, 168 BUILDING MEMBERS, AND 142 ENGINEERS ASSOCIATION MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin C Lewis President/ceo | Officer | 40 | $171,000 |
Sarah Anderson President/ceo | Officer | 40 | $28,125 |
Deborah Kolar Board Chair | OfficerTrustee | 1 | $0 |
Tara Steinkraus Board Vice Chair | OfficerTrustee | 1 | $0 |
Pat Seng Director | OfficerTrustee | 1 | $0 |
Lee Davis Board Treasurer | OfficerTrustee | 1 | $0 |
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 | $791,575 |
| Investment income | $37,946 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,713 |
| Net Income from Fundraising Events | $72,003 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $899,811 |
| 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. | $228,125 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $179,410 |
| Pension plan accruals and contributions | $14,217 |
| Other employee benefits | $31,124 |
| Payroll taxes | $30,225 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $81,667 |
| Fees for services: Accounting | $8,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,810 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,884 |
| Information technology | $36,663 |
| Royalties | $0 |
| Occupancy | $61,025 |
| Travel | $4,925 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,974 |
| Interest | $0 |
| Payments to affiliates | $88,844 |
| Depreciation, depletion, and amortization | $30,260 |
| Insurance | $4,139 |
| All other expenses | $11,378 |
| Total functional expenses | $923,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,203 |
| Savings and temporary cash investments | $228,419 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,646 |
| 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 | $26,590 |
| Net Land, buildings, and equipment | $66,738 |
| Investments—publicly traded securities | $697,310 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,087,906 |
| Accounts payable and accrued expenses | $56,943 |
| Grants payable | $0 |
| Deferred revenue | $222,710 |
| 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 | $279,653 |
| Net assets without donor restrictions | $808,253 |
| 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 | $1,087,906 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lutheran Home Belle Plaine, MN | $28,969,103 | $28,215,877 |
Martin Luther Home Corporation Dubuque, IA | $34,357,421 | $17,283,638 |
North Oaks Home Owners Association Inc North Oaks, MN | $5,590,480 | $4,009,438 |
Minnesota Multi Housing Assn Bloomington, MN | $1,831,730 | $2,659,160 |
Platte Lake Property Owners Association Hillman, MN | $0 | $1,817,640 |
Eastern Iowa Regional Housing Corporation Dubuque, IA | $5,116,993 | $1,481,771 |
Home Builders Assn Of Des Moines Johnston, IA | $702,713 | $1,312,598 |
Panora Cooperative Cablevision Association Inc Panora, IA | $431,429 | $971,770 |
Greater Minneapolis Building Owners & Managers Association Minneapolis, MN | $1,087,906 | $899,811 |
South Dakota Telecommunications Association Pierre, SD | $191,089 | $797,905 |
Wisconsin Association Of Campground Owners Inc Ettrick, WI | $402,292 | $621,884 |
Broadband Association Of North Dakota Mandan, ND | $754,213 | $601,039 |