MINNEAPOLIS SAINT PAUL REGIONAL EC… - 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

PETER FROSCH

Phone

6512871365

Tax Period

2023-01-01 to 2023-12-31

MINNEAPOLIS SAINT PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP, founded in 2010, is a community nonprofit in the Community Improvement sector that reported $8.0M in total revenue in fiscal year 2023. Revenue grew 18% year-over-year, indicating healthy expansion. Expenses of $7.6M left a modest 5% surplus.

Mission

THE MISSION OF THE GREATER MSP PARTNERSHIP IS TO ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND EXECUTION OF STRATEGIC INITIATIVES. THE PARTNERSHIP WORKS TO STRENGTHEN OUR REGION'S GLOBAL SECTORS, PRIORITIZE TALENT, AND TELL OUR STORY.

Program Service Accomplishments

Program 1

Expenses: $5,873,525

GREATER MSP PARTNERSHIP WAS CREATED A DECADE AGO TO BE A SHARED SPACE WHERE LEADERS AND ORGANIZATIONS OF ALL TYPES COULD COME TOGETHER AND BUILD THE ECONOMY FOR THE BENEFIT OF THE RESIDENTS OF THIS REGION. WE ARE REALIZING THIS VISION AS A CROSS-SECTOR, WORKING PARTNERSHIP THAT TOUCHES EVERY CORNER OF THE 15-COUNTY MINNEAPOLIS-SAINT PAUL METRO. THIS PARTNERSHIP INVOLVES MORE THAN 4,500 INDIVIDUALS FROM OVER 350 LEADING COMPANIES, CITIES, COUNTIES, FOUNDATIONS AND UNIVERSITIES, WORKING TOGETHER TO ACCELERATE GLOBAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH IN MINNEAPOLIS-SAINT PAUL. OVER 120 OF THESE PARTICIPATING ORGANIZATIONS INVEST FINANCIALLY, WITH DOZENS MORE INVESTING THEIR TIME AND ALIGNING THEIR RESOURCES BEHIND EXECUTION OF THE REGIONAL STRATEGY. GREATER MSP IS A LARGE AND GROWING WORKING PARTNERSHIP OF COMMUNITY AND BUSINESS LEADERS AND ORGANIZATIONS FROM ACROSS THE REGION. TOGETHER, WE SHAPE AND EXECUTE A SHARED REGIONAL ECONOMIC DEVELOPMENT STRATEGY FOCUSED ON: JOB GROWTH, STARTUPS & INNOVATION, TALENT MIGRATION, RACIAL INCLUSION, SKILLS & WORKFORCE, REGIONAL IMAGE, AFFORDABILITY, TRANSPORTATION & MOBILITY, AND NEW CLIMATE ECONOMY. THIS STRATEGY SUPPORTS US AS WE EXECUTE ON OUR VISION FOR THE MINNEAPOLIS-SAINT PAUL REGION TO LEAD THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION. GREATER MSP HAS BECOME A LARGE AND DIVERSE ECOSYSTEM OF ORGANIZATIONS BUILDING INNOVATIVE SOLUTIONS, SETTING AUDACIOUS LONG-TERM AMBITIONS AND BREAKING THROUGH LONGSTANDING BOUNDARIES BY HARNESSING THE POWER OF CROSS-SECTOR COLLABORATION. STAFF OF THE ORGANIZATION SUPPORT THE PARTNERSHIP IN EXECUTING THIS STRATEGY BY SUPPORTING PLATFORMS FOR BUSINESS INVESTMENT, MSP STORYTELLING, AND STRATEGIC INITIATIVES THAT ARE SUPPORTED BY A RESEARCH & INTELLIGENCE DEPARTMENT. THE GREATER MSP PARTNERSHIP HAS DEMONSTRATED THE CAPABILITY OF GENERATING SIGNIFICANT ECONOMIC OPPORTUNITY FOR PEOPLE IN THE REGION. GREATER MSP HAS BEEN BUILDING ON OUR ORIGINAL SCOPE TO ENSURE THAT EVERY MEMBER OF OUR COMMUNITY CAN ACCESS GOOD JOBS AND ECONOMIC OPPORTUNITY. THIS EMPHASIS ON INCLUSIVE GROWTH HAS POWERED AN EXPANSION IN GREATER MSP'S SCOPE, CAPACITY AND BREADTH OF PARTICIPANTS. A DECADE OF DATA POINT TO TWO CHIEF CHALLENGES FOR THE REGION: ADVANCING RACIAL EQUITY AND ACCELERATING THE GROWTH OF QUALITY JOBS. GREATER MSP RECOGNIZES THESE CHALLENGES AS INTERDEPENDENT AND IS COMMITTED TO INVESTING IN EQUITY AS A GROWTH SOLUTION. THE VISION, MISSION AND VALUES FOR THE GREATER MSP REGION AND PARTNERSHIP INCLUDE:REGIONAL VISIONTHE GREATER MSP REGION LEADS THE WORLD IN INCLUSIVE ECONOMIC GROWTH BY WELCOMING ALL, EMPOWERING TALENT AND IGNITING INNOVATION.PARTNERSHIP MISSIONTHE GREATER MSP PARTNERSHIP WILL ACCELERATE REGIONAL COMPETITIVENESS AND INCLUSIVE ECONOMIC GROWTH THROUGH JOB CREATION, CAPITAL INVESTMENT AND THE EXECUTION OF STRATEGIC INITIATIVES.PARTNERSHIP VALUESACCOUNTABILITY | ALIGNMENT | INCLUSION | INNOVATION | TRANSPARENCY

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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 $7,955,362

Program Service Revenue $0

Investment Income $53,575

Other Revenue $0

TOTAL REVENUE $8,008,937

Expense Breakdown

Grants Paid $27,000

Salaries & Benefits $4,295,208

Fundraising Expenses $171,307

Program Expenses $5,873,525

Other Expenses $3,312,929

TOTAL EXPENSES $7,635,137

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,008,937	$6,796,435	+0.2%
Expenses	$7,635,137	$6,890,625	+0.1%
Net Income	$373,800	$-94,190	-5.0%

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

Volunteers

800

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

$459,643

Total Directors

$459,643

Key Employees

$803,826

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PETER FROSCH	PRESIDENT & CEO	40.00	Officer Director	$445,510	$14,133	$459,643
TONYA ALLEN	DIRECTOR	0.50	Director	$0	$0	$0
CHAIRMAN KEITH ANDERSON	DIRECTOR (UNTIL 12/31/2023)	0.50	Director	$0	$0	$0
CHRISTOPHE BECK	DIRECTOR	0.50	Director	$0	$0	$0
ANDY BESSETTE	DIRECTOR (UNTIL 9/11/2023)	0.50	Director	$0	$0	$0
DOUG CARNIVAL	OF COUNSEL	0.50	Director	$0	$0	$0
BRETT CARTER	DIRECTOR (UNTIL 11/2/2023)	0.50	Director	$0	$0	$0
MAYOR MELVIN CARTER	DIRECTOR	0.50	Director	$0	$0	$0
BERT COLIANNI	DIRECTOR (UNTIL 7/10/2023)	0.50	Director	$0	$0	$0
JEFFREY ETTINGER	DIRECTOR	0.50	Director	$0	$0	$0
COMMISSIONER IRENE FERNANDO	DIRECTOR	0.50	Director	$0	$0	$0
MAYOR JACOB FREY	DIRECTOR	0.50	Director	$0	$0	$0
JOAN GABEL	DIRECTOR (UNTIL 4/28/2023)	0.50	Director	$0	$0	$0
CHRIS GALVIN	DIRECTOR	0.50	Director	$0	$0	$0
DAN JOHNSON	DIRECTOR	0.50	Director	$0	$0	$0
DR ERIC JOLLY	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL JONES	DIRECTOR (UNTIL 4/30/2023)	0.50	Director	$0	$0	$0
PHILIP KAUFMAN	DIRECTOR (UNTIL 6/30/2023)	0.50	Director	$0	$0	$0
COMMISSIONER STAN KARWOSKI	DIRECTOR	0.50	Director	$0	$0	$0
AMY LANGER	DIRECTOR (UNTIL 4/12/2023)	0.50	Director	$0	$0	$0
AUDREY LUCAS	DIRECTOR	0.50	Director	$0	$0	$0
MAYOR MIKE MAGUIRE	DIRECTOR	0.50	Director	$0	$0	$0
MATT MARSH	DIRECTOR	0.50	Director	$0	$0	$0
JOHN NAYLOR	DIRECTOR (UNTIL 8/31/2023)	0.50	Director	$0	$0	$0
JON NUDI	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL O'LEARY	DIRECTOR (UNTIL 9/20/2023)	0.50	Director	$0	$0	$0
LAURA OBERST	DIRECTOR	0.50	Director	$0	$0	$0
COMMISSIONER RAFAEL ORTEGA	DIRECTOR	0.50	Director	$0	$0	$0
RT RYBAK	DIRECTOR	0.50	Director	$0	$0	$0
DAVID SAGGAU	DIRECTOR (UNTIL 4/12/2023)	0.50	Director	$0	$0	$0
SAHIL SANGHVI	DIRECTOR	0.50	Director	$0	$0	$0
COMMISSIONER SCOTT SCHULTE	DIRECTOR	0.50	Director	$0	$0	$0
TODD SENGER	DIRECTOR (UNTIL 2/13/2023)	0.50	Director	$0	$0	$0
COMMISSIONER MIKE SLAVIK	DIRECTOR	0.50	Director	$0	$0	$0
CHRISTINE SOVEREIGN	DIRECTOR	0.50	Director	$0	$0	$0
JOHN STAUCH	DIRECTOR	0.50	Director	$0	$0	$0
COMMISSIONER MATT UDERMANN	DIRECTOR	0.50	Director	$0	$0	$0
COMMISSIONER JON ULRICH	DIRECTOR (UNTIL 12/31/2023)	0.50	Director	$0	$0	$0
ROBERT VISCHER	DIRECTOR	0.50	Director	$0	$0	$0
LAYSHA WARD	DIRECTOR	0.50	Director	$0	$0	$0
BRADLEY WOOD	DIRECTOR	0.50	Director	$0	$0	$0
TIMOTHY A WELSH	CHAIRMAN	1.00	Officer Director	$0	$0	$0
RAVI NORMAN	VICE CHAIR	0.50	Officer Director	$0	$0	$0
DENNIS DAHLEN	TREASURER	0.50	Officer Director	$0	$0	$0
MATTHEW K LEWIS	VICE PRESIDENT, STRATEGIC INITIATIVES	40.00	Key Emp	$243,140	$15,283	$258,423
AMANDA TAYLOR	VICE PRESIDENT, RESEARCH & INTELLIGENCE	40.00	Key Emp	$237,935	$40,299	$278,234
MORRIS GOODWIN JR	MANAGING DIRECTOR, FORGE NORTH	40.00	Key Emp	$237,168	$30,001	$267,169
JENNIFER M LINDEMER	DIRECTOR, ORGANIZATIONAL DEVELOPMENT	40.00	Highest	$167,515	$38,898	$206,413
JOANNE BERKENKAMP	MANAGING DIRECTOR, MBOLD	40.00	Highest	$175,818	$19,801	$195,619
SAM B MORANTZ	COMPTROLLER	40.00	Highest	$158,895	$14,061	$172,956
IEESHA M COLLINS	MANAGING DIRECTOR, CONNEXTMSP	40.00	Highest	$197,845	$16,520	$214,365
KRISTIN GUILD	DIRECTOR, BUSINESS BRIDGE	40.00	Highest	$167,628	$7,779	$175,407

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	$8,008,937	$7,635,137	$6,398,281	$373,800
2022	$6,796,435	$6,890,625	$5,387,494	$-94,190
2021	$6,502,146	$6,359,834	$5,371,081	$142,312
2020	$6,217,248	$5,482,783	$5,339,896	$734,465
2019	$6,283,804	$5,535,952	$4,315,393	$747,852
2018	$5,926,494	$5,925,079	$3,917,892	$1,415

MINNEAPOLIS SAINT PAUL REGIONAL ECONOMIC DEVELOPMENT PARTNERSHIP