Minnesota Association Of Mortgage Brokers
- Assets
- $148.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Plymouth, MN
- Founding
- 12/1993
- Data as of
- 12/2021
- EIN
- 41-1711248
Organization Overview
Minnesota Association Of Mortgage Brokers is located in Plymouth, MN. The organization was established in 1993. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Association Of Mortgage Brokers 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, Minnesota Association Of Mortgage Brokers generated $115.5k 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 (6.6%) each year. All expenses for the organization totaled $129.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
TO PROMOTE PROFESSIONALISM AMONG THE MEMBERS AND PROVIDE ETHICAL AND PROFESSIONAL STANDARDS FOR MORTGAGE BROKERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Johanns President | 5 | $0 | |
Julia Koski Pres Elect | 5 | $0 | |
Todd Bushy Treasurer | 5 | $0 | |
Mike Elwell Secretary | 5 | $0 | |
Steve Rice Director | 5 | $0 | |
Scott Flaherty Director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $42,492 |
| Membership dues | $68,700 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $4,287 |
| Total Revenue | $115,479 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $80,017 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $1,781 |
| Other expenses | $47,183 |
| Total expenses | $128,981 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $145,829 |
| Other assets | $0 |
| Total assets | $147,991 |
| Total liabilities | $60,366 |
| Net assets or fund balances | $87,625 |
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