MIDWEST INTERNET COOPERATIVE EXCHA… - Form 990 Financial Data

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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

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.

Program Service Accomplishments

Program 1

MICE OPERATES AN INTERNET EXCHANGE POINT (IXP) IN MINNESOTA. MICE DIRECTLY OPERATES SWITCHES IN TWO DATACENTERS: THE COLOGIX DATACENTER AT 511 11TH AVE S, MINNEAPOLIS AND THE RIDGEVIEW DATACENTER AT 12450 WAYZATA BLVD IN MINNETONKA. SEVEN OTHER ENTITIES OPERATE NINE REMOTE SWITCHES WHICH EXTEND THE MICE PEERING FABRIC AS FAR AWAY AS DULUTH AND KANSAS CITY.MICE HAS JUST OVER 150 PARTICIPANT NETWORKS CONNECTED. MICE'S TRAFFIC HAS TYPICAL DAILY PEAKS IN THE 1.6-2.5 TBPS RANGE. BY TRAFFIC VOLUME, WE ARE APPROXIMATELY THE 4TH LARGEST IXP IN NORTH AMERICA.

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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%)

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

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

Total Directors

Key Employees

Highest Compensated

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

MIDWEST INTERNET COOPERATIVE EXCHANGE