The Minnesota Daily
- Assets
- $1.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 130
- Location
- Minneapolis, MN
- Founding
- 03/1990
- Data as of
- 08/2023
- EIN
- 41-1648598
Organization Overview
The Minnesota Daily is located in Minneapolis, MN. The organization was established in 1990. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 08/2023, Minnesota Daily employed 130 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Daily 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 08/2023, Minnesota Daily generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $1.1m during the year ending 08/2023. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 8 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
EDUCATIONAL TRAINING OF STUDENTS IN ALL AREAS OF NEWSPAPER OPERATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MINNESOTA DAILY IS THE STUDENT-RUN NEWS ORGANIZATION AT THE UNIVERSITY OF MINNESOTA. BEFORE THE COVID-19 PANDEMIC, IT PUBLISHED PRINT EDITIONS TWICE A WEEK ON MONDAYS AND THURSDAYS DURING THE SCHOOL YEAR AND ONE WEEKLY EVERY WEDNESDAY DURING SUMMER TERM. IT PUBLISHES SPECIAL SECTIONS SEVERAL TIMES DURING THE SCHOOL YEAR. IT ALSO PUBLISHES ONLINE AT MNDAILY.COM. WITH A PRINT CIRCULATION OF 10,000 AND ONLINE TRAFFIC AVERAGING OVER 160,000 USERS PER MONTH, AS WELL AS A STRONG SOCIAL MEDIA FOLLOWING, THE DAILY PROVIDES NEWS AND INFORMATION TO 52,300 STUDENTS, 23,700 FACULTY/STAFF, AND THOUSANDS OF ALUMNI, PROSPECTIVE STUDENTS, PARENTS, SPORTS FANS AND OTHERS.OVER 130 STUDENTS ARE EMPLOYED IN THE NEWS, ADVERTISING, BUSINESS, DISTRIBUTION, MARKETING AND FINANCE DEPARTMENTS, INCLUDING ALL MAJOR LEADERSHIP POSITIONS. THIS PROVIDES TRAINING AND EXPERIENCE FOR UNIVERSITY OF MINNESOTA STUDENTS IN ALL MAJORS IN ALL ASPECTS OF JOURNALISM AND BUSINESS MANAGEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlie Weaver Executive Director & General Manager | Officer | 40 | $100,667 |
William Conroy Director/accounting Consultant | Trustee | 0.5 | $22,050 |
Maia Irvin Editor-In-Chief Through May 2023 | OfficerTrustee | 30 | $17,525 |
Graham Peterson Business Operations Officer | OfficerTrustee | 30 | $16,750 |
Alex Steil Editor-In-Chief Beginning May 2023 | OfficerTrustee | 30 | $2,325 |
Drew Geraets Board Chair Through 01/23, Director | OfficerTrustee | 0.5 | $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 | $2,773 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,773 |
| Total Program Service Revenue | $1,062,338 |
| Investment income | $30,144 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$39,761 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,055,494 |
| 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. | $176,462 |
| Compensation of current officers, directors, key employees. | $74,671 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $303,523 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,843 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41,038 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,629 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,500 |
| Office expenses | $35,364 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $366,139 |
| Travel | $3,338 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,860 |
| Insurance | $42,059 |
| All other expenses | $2,031 |
| Total functional expenses | $1,124,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,905 |
| Savings and temporary cash investments | $173,839 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,886 |
| 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 | $5,584 |
| Net Land, buildings, and equipment | $16,204 |
| Investments—publicly traded securities | $724,082 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,346 |
| Total assets | $1,021,846 |
| Accounts payable and accrued expenses | $26,488 |
| Grants payable | $0 |
| Deferred revenue | $92,350 |
| 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 | $43,547 |
| Total liabilities | $162,385 |
| Net assets without donor restrictions | $859,461 |
| 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 | $1,021,846 |