Finnovation Institute
- Assets
- $1.5m
- Revenue
- $9.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- Data as of
- 12/2022
- EIN
- 85-4329890
Organization Overview
Finnovation Institute is located in Minneapolis, MN. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Finnovation Institute 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, Finnovation Institute generated $9.1k in total revenue. All expenses for the organization totaled $788.1k during the year ending 12/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATIONAL PROGRAMS AND TANGIBLE SUPPORT TO IMPACT-DRIVEN ENTREPRENEURS AND BUILD A VIBRANT AND INCLUSIVE COMMUNITY OF SUCCESSFUL SOCIAL BUSINESSES IN THE TWIN CITIES REGION, GENERATING MEANINGFUL SOCIAL AND ECONOMIC IMPACT IN OUR REGION AND BEYOND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NINE EARLY-STAGE SOCIAL ENTREPRENEURS WERE SELECTED AND BEGAN THE FIFTH COHORT OF FINNOVATION FELLOWS. CURRICULUM, MENTORSHIP, COACHING AND WORKSPACE WERE PROVIDED, STARTING IN MID-SEPTEMBER. A THREE YEAR GRANT WAS AWARDED IN 2021 FOR THE FUNDING OF THIS PROGRAM.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Connie Rutledge CEO | Officer | 40 | $0 |
Jacqueline Berglund Board Chair | OfficerTrustee | 1 | $0 |
Renay Dossman Board Memebe | Trustee | 1 | $0 |
Kari Niedfeldt-Thomas Treasurer | OfficerTrustee | 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 | $4,767 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,767 |
| Total Program Service Revenue | $0 |
| Investment income | $4,330 |
| 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 | $9,097 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $482,889 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $166,517 |
| Fees for services: Legal | $26 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $59,420 |
| Advertising and promotion | $8,003 |
| Office expenses | $125 |
| Information technology | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $788,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $596,425 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $855,401 |
| 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 | $1,451,826 |
| Accounts payable and accrued expenses | $2,001 |
| 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 | $0 |
| Total liabilities | $2,001 |
| Net assets without donor restrictions | $1,449,825 |
| 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 | $1,451,826 |