MIDWEST INTERNET COOPERATIVE EXCHANGE

EIN: 273681095 Public & Societal Benefit

MINNEAPOLIS, MN

Total Revenue
$246,021
Total Expenses
$27,854
Total Assets
$728,103
Net Assets
$728,103
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
MN
Principal Officer
RICHARD LAAGER
Phone
2184365203
Tax Period
2023-01-01 to 2023-12-31

MIDWEST INTERNET COOPERATIVE EXCHANGE, founded in 2010, is a small nonprofit in the Public & Societal Benefit sector that reported $246K in total revenue in fiscal year 2023. The organization ran a surplus of $218K, a strong 89% operating margin.

Mission

TO IMPROVE INTERNET CONNECTIVITY, INCREASE PERFORMANCE AND REDUCE COST BY KEEPING INTERNET TRAFFIC LOCAL IN THE UPPER MIDWEST.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $232,386
Investment Income $13,615
Other Revenue $20
TOTAL REVENUE $246,021

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $27,854
TOTAL EXPENSES $27,854

Year-over-Year Comparison

2023 2022 Change
Revenue $246,021 N/A N/A
Expenses $27,854 N/A N/A
Net Income $218,167 $0 N/A
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
4

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD LAAGER CHIEF MANAGER, DIRECTOR 5.00
Officer Director
$0 $0 $0
ANTHONY ANDERBERG TREASURER, DIRECTOR 5.00
Officer Director
$0 $0 $0
REID FISHLER DIRECTOR 5.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $246,021 $27,854 $728,103 $218,167
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