Greater Minneapolis Building Owners & Managers Association
- Assets
- $1.1m
- Revenue
- $977.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Minneapolis, MN
- Founding
- 03/1948
- Data as of
- 12/2023
- 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 12/2023, Greater Minneapolis Building Owners & Managers Association employed 7 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 12/2023, Greater Minneapolis Building Owners & Managers Association generated $977.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $993.2k during the year ending 12/2023. While expenses have increased by 0.2% 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
2023
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 30 EDUCATIONAL MEETINGS/SESSIONS PROVIDING A TOTAL OF 114 CEU'S TO OUR MEMBERS. WE HELD 10 NETWORKING EVENTS FOR OUR MEMBERS, INCLUDING A GALA AWARDS EVENT. WE PUBLISHED 6 NEWSLETTERS. DURING 2023, THE ORGANIZATION HAD 458 INDIVIDUAL MEMBERS, 197 BUILDING MEMBERS, AND 163 ENGINEERS ASSOCIATION MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monique Slaughter Director | Trustee | 1 | $0 |
Adam Warden Director | Trustee | 1 | $0 |
Laurie Paquette Director | Trustee | 1 | $0 |
Raymond Vaughn Director | Trustee | 1 | $0 |
Kevin Rolfes Director | Trustee | 1 | $0 |
Deborah Kolar Past Chair | 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 | $870,773 |
| Investment income | $31,116 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29,954 |
| Net Income from Fundraising Events | $46,011 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $977,854 |
| 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. | $198,612 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $171,876 |
| Pension plan accruals and contributions | $4,347 |
| Other employee benefits | $31,219 |
| Payroll taxes | $25,317 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $78,000 |
| Fees for services: Accounting | $15,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,586 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,789 |
| Office expenses | $8,451 |
| Information technology | $29,401 |
| Royalties | $0 |
| Occupancy | $61,824 |
| Travel | $8,662 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $100,032 |
| Interest | $0 |
| Payments to affiliates | $96,511 |
| Depreciation, depletion, and amortization | $26,581 |
| Insurance | $5,072 |
| All other expenses | $46,923 |
| Total functional expenses | $993,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $163,352 |
| Savings and temporary cash investments | $10,438 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,705 |
| 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 | $197 |
| Net Land, buildings, and equipment | $12,723 |
| Investments—publicly traded securities | $709,050 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $149,547 |
| Total assets | $1,059,012 |
| Accounts payable and accrued expenses | $110,058 |
| Grants payable | $0 |
| Deferred revenue | $74,117 |
| 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 | $150,181 |
| Total liabilities | $334,356 |
| Net assets without donor restrictions | $724,656 |
| 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 | $1,059,012 |