Minnesota Shopping Center Association
- Assets
- $214.5k
- Revenue
- $387.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Minneapolis, MN
- Founding
- 11/1990
- Data as of
- 09/2023
- EIN
- 41-1609394
Organization Overview
Minnesota Shopping Center Association is located in Minneapolis, MN. The organization was established in 1990. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Minnesota Shopping Center Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Shopping Center 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 09/2023, Minnesota Shopping Center Association generated $387.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $453.1k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (0.8%) per year over the past 7 years. 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 PROVIDE A FORUM FOR EXCHANGE OF INFORMATION AMONG SHOPPING CENTER DEVELOPERS, OWNERS, MANAGERS, BROKERS, INVESTORS, RETAILERS AND ALL PROFESSIONALS SERVING THE MINNESOTA RETAIL REAL ESTATE INDUSTRY FOR MUTUAL BENEFIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE CONFERENCES & SEMINARS RELATING TO SHOPPING CENTER DEVELOPMENT & INDUSTRY, APPROVED FOR CONTINUING REAL ESTATE EDUCATION CREDIT.
PRODUCE BI-ANNUAL REPORTS DESCRIBING CURRENT STATE OF AND TRENDS IN THE SHOPPING CENTER INDUSTRY.
HOLD AN ANNUAL MEETING TO RECOGNIZE OUTSTANDING PROJECTS AND INDUSTRY LEADERS OF MINNESOTA RETAIL REAL ESTATE INDUSTRY DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karla Keller Torp Executive Director | Officer | 40 | $141,886 |
Trish Sieh Past President/ Director | OfficerTrustee | 1 | $0 |
Emilee Decoteau Past President | OfficerTrustee | 1 | $0 |
Kelle Lang Staats 1st Vice President (resigned 8/19/23) | OfficerTrustee | 1 | $0 |
Jeremy Welter President | Trustee | 1 | $0 |
Matt Hazelton 1st Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $129,694 |
| Fundraising events | $29,600 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $130,861 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $290,155 |
| Total Program Service Revenue | $86,097 |
| Investment income | $63 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $10,925 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $387,240 |
| 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. | $188,109 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,900 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,095 |
| Fees for services: Lobbying | $42,300 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,023 |
| Advertising and promotion | $585 |
| Office expenses | $47,340 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $28,014 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,544 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,774 |
| All other expenses | $90 |
| Total functional expenses | $453,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $152,240 |
| Savings and temporary cash investments | $61,991 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $269 |
| 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 | $214,500 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $17,210 |
| 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 | $17,210 |
| 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 | $197,290 |
| Total liabilities and net assets/fund balances | $214,500 |