Enterprise Minnesota Inc
- Assets
- $3.8m
- Revenue
- $6.5m
- Investments
- $1.5m
- Employees
- 34
- Location
- Minneapolis, MN
- Founding
- 04/1989
- Data as of
- 06/2022
- EIN
- 41-1595930
Organization Overview
Enterprise Minnesota Inc is located in Minneapolis, MN. The organization was established in 1989. According to its NTEE Classification (W20) the organization is classified as: Government & Public Administration, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2022, Enterprise Minnesota Inc employed 34 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Enterprise Minnesota Inc 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 06/2022, Enterprise Minnesota Inc generated $6.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $5.6m during the year ending 06/2022. While expenses have increased by 3.1% 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.
Since 2015, Enterprise Minnesota Inc has awarded 54 individual grants totaling $786,201. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE ECONOMIC GROWTH AND JOB CREATION THROUGH APPLIED RESEARCH, TECHNOLOGY TRANSFER, AND PRODUCTIVE DEVELOPMENT.
Describe the Organization's Program Activity:
ENTERPRISE MINNESOTA HELPS SMALL AND MID-SIZED MANUFACTURERS DEVELOP AND IMPLEMENT STRATEGIES TO GROW BUSINESS. WHETHER WALKING THROUGH THE LEAN MANUFACTURING PROCESS OR TRAINING ON THE LATEST MANAGEMENT STRATEGIES, WE HELP MANUFACTURING BUSINESSES COMPETE AND GROW PROFITABLY. OUR INDUSTRY EXPERTS ARE LOCATED ACROSS MINNESOTA TO HELP CLIENTS ACHIEVE THEIR GOALS AND BECOME WORLD-CLASS MANUFACTURERS.ENTERPRISE MINNESOTA IS AN AFFILIATE OF THE NATIONAL MEP NETWORK PART OF THE U.S. DEPARTMENT OF COMMERCE'S NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, (NIST) AND ASSISTS SMALL AND MEDIUM SIZED MANUFACTURING COMPANIES BY PROVIDING PRODUCTS AND SERVICES DESIGNED TO HELP THEM SUCCEED. ENTERPRISE MINNESOTA HAS SUCCESSFULLY LEVERAGED THIS FEDERAL SUPPORT FOR MORE THAN 30 YEARS AND ADMINISTRATING THE COOPERATIVE AGREEMENT THAT PROVIDES FOR THE MEP CENTER IN MINNESOTA.IN THE PAST THREE YEARS ALONE WE ACCOMPLISHED THE FOLLOWING:- 482 MINNESOTA COMPANIES RECEIVED CRITICAL BUSINESS ASSISTANCE.- THESE COMPANIES REALIZED A POSITIVE ECONOMIC IMPACT OF $1,011 MILLION TO THEIR BOTTOM LINE IN INCREASED SALES, REDUCED PRODUCTION COSTS, AND IMPROVED EMPLOYEE UTILIZATION.- MORE THAN 5,874 JOBS HAVE BEEN CREATED OR RETAINED.IN ADDITION TO OUR CONSULTING SERVICES, ENTERPRISE MINNESOTA OFFERED THREE GREAT WAYS TO KEEP UP WITH THE LATEST MANUFACTURING NEWS IN MINNESOTA; ENTERPRISE MINNESOTA MAGAZINE, E-TRENDS NEWSLETTER AND THE ANNUAL STATE OF MANUFACTURING POLL, A STATEWIDE RESEARCH PROJECT THAT INCLUDES HUNDREDS OF PHONE SURVEYS AND SEVERAL FOCUS GROUPS WITH MANUFACTURING EXECUTIVES ACROSS THE STATE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Ebnet Director | Trustee | 1 | $0 |
Greg Buck Director | Trustee | 1 | $0 |
Matt Hanson Director | Trustee | 1 | $0 |
Mike Jensen Chair | OfficerTrustee | 1 | $0 |
Joe Mulford Director | Trustee | 1 | $0 |
Mark Nelson Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wipfli Llp Consulting | 6/29/20 | $202,501 |
Mason Public Affairs Marketing Consulting | 6/29/20 | $134,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,155,874 |
| 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 | $4,155,874 |
| Total Program Service Revenue | $2,258,769 |
| Investment income | $6,787 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $65,956 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,487,386 |
| 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. | $817,741 |
| Compensation of current officers, directors, key employees. | $81,774 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,608,410 |
| Pension plan accruals and contributions | $103,999 |
| Other employee benefits | $695,630 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,020 |
| Fees for services: Accounting | $18,181 |
| Fees for services: Lobbying | $18,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $527,174 |
| Advertising and promotion | $10,575 |
| Office expenses | $65,036 |
| Information technology | $43,718 |
| Royalties | $0 |
| Occupancy | $81,925 |
| Travel | $158,553 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $60,186 |
| Interest | $2,035 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,270 |
| Insurance | $7,467 |
| All other expenses | $7,708 |
| Total functional expenses | $5,612,454 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,222,387 |
| Savings and temporary cash investments | $29,261 |
| Pledges and grants receivable | $168,159 |
| Accounts receivable, net | $223,995 |
| 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 | $85,738 |
| Net Land, buildings, and equipment | $263,536 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,491,591 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $342,310 |
| Total assets | $3,826,977 |
| Accounts payable and accrued expenses | $742,174 |
| Grants payable | $0 |
| Deferred revenue | $339,729 |
| 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 | $600,967 |
| Total liabilities | $1,682,870 |
| Net assets without donor restrictions | $2,144,107 |
| 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 | $3,826,977 |
Grants Awarded
Over the last fiscal year, Enterprise Minnesota Inc has awarded $98,839 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
KIT MASTERS PURPOSE: WEST CENTRAL INITIATIVE FOUNDATION PASS THROUGH GRANT | $25,586 |
SNAPPY CO PURPOSE: WEST CENTRAL INITIATIVE FOUNDATION PASS THROUGH GRANT | $9,560 |
RAPAT CORP PURPOSE: WEST CENTRAL INITIATIVE FOUNDATION PASS THROUGH GRANT | $9,400 |
NORTHERN CONTOURS INC PURPOSE: WEST CENTRAL INITIATIVE FOUNDATION PASS THROUGH GRANT | $18,650 |
ALDERON INDUSTRIES PURPOSE: WEST CENTRAL INITIATIVE FOUNDATION PASS THROUGH GRANT | $9,000 |
VECTOR WINDOWS PURPOSE: WEST CENTRAL INITIATIVE FOUNDATION PASS THROUGH GRANT | $8,083 |