Twin Cities Innovation Alliance
- Assets
- $949.5k
- Revenue
- $676.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 06/2017
- Data as of
- 06/2021
- EIN
- 82-1701598
Organization Overview
Twin Cities Innovation Alliance is located in Minneapolis, MN. The organization was established in 2017. According to its NTEE Classification (S30) the organization is classified as: Economic Development, 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. Twin Cities Innovation Alliance 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 06/2021, Twin Cities Innovation Alliance generated $676.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 57.4% each year . All expenses for the organization totaled $417.8k during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TCIA DELIVERS FISCAL SPONSORSHIP TO A GROWING NUMBER OF CHARITABLE PROJECTS WITHIN THE TWIN CITIES AND BEYOND. WE PROVIDE BOTH FINANCIAL AND REGULATORY OVERSIGHT AS WELL AS (CONTINUED ON SCHEDULE O, STATEMENT 2)
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE CONTINUE TO BE GIVEN OPPORTUNITIES TO BE A FISCAL SPONSORS FOR ORGANIZATIONS THAT HAVE SPECIAL PROJECTIONS OR HAVE NOT YET RECEIVED THEIR NON PROFIT STATUS. BY PROVIDING THESE OPPORTUNITIES, WE ARE ABLE TO CONTINUE OUR MISSION AND VISION WHILE AIDING OTHER ORGANIZATIONS WITH SIMILAR GOALS IN OUR COMMUNITIES.
IN OUR SECOND YEAR OF OPERATIONS, WE CONTINUE TO SPEND SOME OF OUR OUR TIME DEVELOPING RELATIONSHIPS AS WELL AS SECURING GRANTS AND DONORS FOR FUTURE EVENTS IN OUR 2020 FISCAL YEAR. WE OBTAINED VARIOUS GRANTS TO AID IN GROWING OUR ORGANIZATION AND VISION BOTH LOCALLY AND NATIONALLY. THIS GRANT WILL BE USED FOR COSTS ASSOCIATED WITH PROGRAMMING, MANAGEMENT, AND FUNDRAISING OF OUR ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aasim Shabazz Founder - Board Member | Trustee | 15 | $0 |
Talaya Tolefree Board Member | Trustee | 0.25 | $0 |
Damola Ogundipe Board Member | Trustee | 0.25 | $0 |
Ishmael Israel Board Member | Trustee | 0.25 | $0 |
Christopher Pleasants Board Member | Trustee | 0.25 | $0 |
Marika Pfefferkorn Founder - Board Member | Trustee | 15 | $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 | $676,167 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $676,167 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $676,167 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,851 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $31,105 |
| Information technology | $6,810 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,709 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $742 |
| Interest | $0 |
| Payments to affiliates | $282,564 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $417,781 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $949,477 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| 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 | $949,477 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $614,437 |
| 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 | $614,437 |
| Net assets without donor restrictions | $335,040 |
| 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 | $949,477 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Twin Cities Innovation Alliance has recieved totaling $517,285.
| Awarding Organization | Amount |
|---|---|
Ford Foundation New York, NY PURPOSE: CORE SUPPORT TO DEVELOP TOOLS AND FRAMEWORKS FOR COMMUNITY PARTICIPATION IN GOVERNMENT DATA SHARING AND DATA-DRIVEN INNOVATION | $275,000 |
New Venture Fund Washington, DC PURPOSE: YOUTH DEVELOPMENT AND EDUCATION | $100,250 |
Minneapolis Foundation Minneapolis, MN PURPOSE: GENERAL | $42,000 |
Tides Foundation San Francisco, CA PURPOSE: EQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT | $25,000 |
Mcknight Foundation Minneapolis, MN PURPOSE: TO ENGAGE PARENTS AROUND THE USE OF BIG DATA AND PREDICTIVE ALGORITHMS IN EDUCATION | $25,000 |
Borealis Philanthropy Minneapolis, MN PURPOSE: TO SUPPORT THE WORK OF TWIN CITIES INNOVATION ALLIANCE | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Great Plains Institute For Sustainable Development Minneapolis, MN | $9,896,004 | $8,891,636 |
Minneapolis - St Paul Regional Economic Development Partnership Saint Paul, MN | $5,371,081 | $6,502,146 |
Madison Development Corporation Madison, WI | $34,294,523 | $5,181,232 |
Center For Economic Inclusion Saint Paul, MN | $9,315,769 | $9,776,985 |
Greater Madison Convention & Visitor Bureau Inc Madison, WI | $7,711,633 | $4,933,152 |
Nextstage Bloomington, MN | $2,654,997 | $4,431,008 |