Minnesota Institute For Talented Youth
- Assets
- $1.2m
- Revenue
- $601.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Saint Paul, MN
- Founding
- 01/1967
- Data as of
- 09/2023
- EIN
- 41-6054304
Organization Overview
Minnesota Institute For Talented Youth is located in Saint Paul, MN. The organization was established in 1967. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 09/2023, Minnesota Institute For Talented Youth employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Institute For Talented Youth 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 09/2023, Minnesota Institute For Talented Youth generated $601.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $493.4k during the year ending 09/2023. 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 INSPIRE AND CHALLENGE INTELLECTUALLY CURIOUS STUDENTS TO PURSUE THEIR PASSIONS WITHIN A DIVERSE, INCLUSIVE COMMUNITY AND EMPOWER THEM BY BUILDING SKILLS AND RELATIONSHIPS FOR LIFELONG SUCCESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MITY PROVIDES TALENTED STUDENTS IN GRADES ONE THROUGH ELEVEN A CHALLENGING, INTENSIVE AND STIMULATING EDUCATIONAL OPPORTUNITY. MITY HIRES MASTER TEACHERS WHO ARE EXPERTS IN THEIR FIELDS TO CULTIVATE AN ENVIRONMENT OF INQUIRY, CREATIVITY AND COLLABORATION. MITY OFFERS FULL AND PARTIAL NEED-BASED SCHOLARSHIPS. COMMUTER AND RESIDENTIAL STUDENTS IN GRADES 8 - 11 ATTEND TWO-WEEK SUMMER SESSIONS; THOSE IN GRADES 5 - 7 PARTICIPATE IN SUMMER DAY PROGRAMS; STUDENTS IN GRADES 1 - 4 LEARN ON SATURDAY MORNINGS. CLASSES INCLUDE: ART, ARCHITECTURE, ASTROPHYSICS, CHEMISTRY, DEBATE, ECONOMICS, ENGINEERING, NEUROSCIENCE, MATH MODELING, MOCK TRIAL, MODEL UN, NOVEL WRITING, AND THEATER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karine Moe Chair | OfficerTrustee | 1 | $0 |
Ted Smetana Vice-Chair | OfficerTrustee | 1 | $0 |
Chad Miller Treasurer | OfficerTrustee | 1 | $0 |
Nienke Wijnia Secretary | OfficerTrustee | 30 | $40,800 |
Anne Brataas Director | Trustee | 1 | $0 |
Judy Cognetta Director | Trustee | 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 | $35,332 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,332 |
| Total Program Service Revenue | $519,463 |
| Investment income | $46,958 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $601,753 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $22,160 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $91,343 |
| Compensation of current officers, directors, key employees. | $13,701 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,201 |
| Pension plan accruals and contributions | $3,346 |
| Other employee benefits | $0 |
| Payroll taxes | $8,600 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,200 |
| Fees for services: Accounting | $26 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $168,862 |
| Advertising and promotion | $1,953 |
| Office expenses | $10,275 |
| Information technology | $800 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $384 |
| Insurance | $5,823 |
| All other expenses | $0 |
| Total functional expenses | $493,382 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,452 |
| Savings and temporary cash investments | $196,851 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,974 |
| 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 | $5,459 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $935,876 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,206,612 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $17,904 |
| Total liabilities | $17,904 |
| Net assets without donor restrictions | $630,340 |
| Net assets with donor restrictions | $558,368 |
| 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 | $1,206,612 |