Nextstage
- Assets
- $3.1m
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 3
- Location
- Bloomington, MN
- Founding
- Data as of
- 12/2022
- EIN
- 85-0898705
Organization Overview
Nextstage is located in Bloomington, MN. 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. As of 12/2022, Nextstage employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nextstage 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 12/2022, Nextstage generated $2.7m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $2.9m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Nextstage has awarded 344 individual grants totaling $3,885,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT ENTREPRENEURS AT EVERY STAGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derrek Beevas Board Chair | OfficerTrustee | 1 | $0 |
Kris Maritz Board Vice Chair | OfficerTrustee | 1 | $0 |
Andrew Swammi Board Treasurer | OfficerTrustee | 1 | $0 |
Clay Taylor Board Secretary | OfficerTrustee | 1 | $0 |
Lee Hall CEO | OfficerTrustee | 40 | $146,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,429,316 |
| All other contributions, gifts, grants, and similar amounts not included above | $500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,429,816 |
| Total Program Service Revenue | $302,792 |
| Investment income | $4,753 |
| 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 | $2,737,361 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,390,000 |
| Grants and other assistance to domestic individuals. | $871,139 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $158,371 |
| Compensation of current officers, directors, key employees. | $39,593 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $61,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,819 |
| Payroll taxes | $16,271 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $675 |
| Fees for services: Accounting | $29,407 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $129,519 |
| Advertising and promotion | $4,999 |
| Office expenses | $27,075 |
| Information technology | $8,700 |
| Royalties | $0 |
| Occupancy | $26,734 |
| Travel | $2,818 |
| 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 | $0 |
| Insurance | $9,412 |
| All other expenses | $138,316 |
| Total functional expenses | $2,879,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $243,693 |
| Savings and temporary cash investments | $1,305,086 |
| Pledges and grants receivable | $91,619 |
| Accounts receivable, net | $31,399 |
| 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 | $1,260,327 |
| Intangible assets | $0 |
| Other assets | $122,930 |
| Total assets | $3,055,054 |
| Accounts payable and accrued expenses | $37,148 |
| Grants payable | $62,900 |
| 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 | $424,537 |
| Other liabilities | $118,207 |
| Total liabilities | $642,792 |
| Net assets without donor restrictions | $2,412,262 |
| 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 | $3,055,054 |
Grants Awarded
Over the last fiscal year, Nextstage has awarded $1,390,000 in support to 124 organizations.
| Grant Recipient | Amount |
|---|---|
MPLS MAKE PURPOSE: COVID RELIEF GRANT | $10,000 |
ARCHBOLD ENTERPRISES LLC PURPOSE: COVID RELIEF GRANT | $15,000 |
HONG THI INC PURPOSE: COVID RELIEF GRANT | $15,000 |
BEST CASE SOLUTIONS LLC PURPOSE: COVID RELIEF GRANT | $10,000 |
CAL-TEX ELECTRIC INC PURPOSE: COVID RELIEF GRANT | $20,000 |
CN'R LAWN CARE INC PURPOSE: COVID RELIEF GRANT | $15,000 |