MINNESOTA TECHNOLOGY ASSOCIATION

EIN: 411440301 Community Improvement

MINNEAPOLIS, MN

Total Revenue
$2,425,062
Total Expenses
$2,316,923
Total Assets
$1,045,832
Net Assets
$543,243
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1982
Legal Domicile
MN
Principal Officer
JEFF TOLLEFSON
Phone
9522304555
Tax Period
2024-01-01 to 2024-12-31

MINNESOTA TECHNOLOGY ASSOCIATION, founded in 1982, is a community nonprofit in the Community Improvement sector that reported $2.4M in total revenue in fiscal year 2024. Expenses of $2.3M left a modest 4% surplus.

Mission

TO BUILD A MORE VIBRANT, INNOVATIVE, AND INCLUSIVE TECHNOLOGY ECOSYSTEM IN MINNESOTA.

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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 (2024)

Revenue Breakdown

Contributions & Grants $10,330
Program Service Revenue $2,386,169
Investment Income $23,013
Other Revenue $5,550
TOTAL REVENUE $2,425,062

Expense Breakdown

Grants Paid $551,948
Salaries & Benefits $1,057,625
Fundraising Expenses $0
Other Expenses $707,350
TOTAL EXPENSES $2,316,923

Year-over-Year Comparison

2024 2023 Change
Revenue $2,425,062 $2,445,001 0.0%
Expenses $2,316,923 $2,386,217 0.0%
Net Income $108,139 $58,784 +0.8%
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

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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
36
Independent Members
35
Employees
9
Volunteers
45

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
5
$450,510
Total Directors
37
$293,640
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JEFF TOLLEFSON PRESIDENT & CEO 40.00
Officer Director
$259,381 $34,259 $293,640
SRIDHAR KONERU BOARD CHAIR 2.00
Officer Director
$0 $0 $0
SARAH ENGSTROM VICE CHAIR 2.00
Officer Director
$0 $0 $0
MATTHEW RECK TREASURER 2.00
Officer Director
$0 $0 $0
DANIEL ABDUL DIRECTOR 2.00
Director
$0 $0 $0
DR SAMEER BADLANI DIRECTOR 2.00
Director
$0 $0 $0
MATTHEW BAILEY DIRECTOR 2.00
Director
$0 $0 $0
ANDY BINGENHEIMER DIRECTOR 2.00
Director
$0 $0 $0
TAWANNA BLACK DIRECTOR 2.00
Director
$0 $0 $0
KEVIN BOECKENSTEDT DIRECTOR 2.00
Director
$0 $0 $0
ANNA BOROFF DIRECTOR 2.00
Director
$0 $0 $0
ROBIN BROWN DIRECTOR 2.00
Director
$0 $0 $0
MARC CARLSON DIRECTOR 2.00
Director
$0 $0 $0
JULIE DURHAM DIRECTOR 2.00
Director
$0 $0 $0
LUCINDA DUTOIT DIRECTOR 2.00
Director
$0 $0 $0
CARY FELBAB DIRECTOR 2.00
Director
$0 $0 $0
AMY FISHER DIRECTOR 2.00
Director
$0 $0 $0
AMKA HODZIC DIRECTOR 2.00
Director
$0 $0 $0
CHRIS HOWE DIRECTOR 2.00
Director
$0 $0 $0
JOSH JABS DIRECTOR 2.00
Director
$0 $0 $0
TAMMYLYNNE JONAS DIRECTOR 2.00
Director
$0 $0 $0
JAKE KRINGS DIRECTOR 2.00
Director
$0 $0 $0
RACHEL LOCKETT DIRECTOR 2.00
Director
$0 $0 $0
CYRUS MORTON DIRECTOR 2.00
Director
$0 $0 $0
MARK MURPHY DIRECTOR 2.00
Director
$0 $0 $0
MEREDITH MURPHY DIRECTOR 2.00
Director
$0 $0 $0
HANY OMAR DIRECTOR 2.00
Director
$0 $0 $0
ANUDEEP PARHAR DIRECTOR 2.00
Director
$0 $0 $0
JAMES PEICHEL DIRECTOR 2.00
Director
$0 $0 $0
TIM PETERSON DIRECTOR 2.00
Director
$0 $0 $0
RAKHI PUROHIT DIRECTOR 2.00
Director
$0 $0 $0
CHRISTOPHER RENCE DIRECTOR 2.00
Director
$0 $0 $0
PJ RITTERS DIRECTOR 2.00
Director
$0 $0 $0
SARAH SEGER DIRECTOR 2.00
Director
$0 $0 $0
JAMIE THINGELSTAD DIRECTOR 2.00
Director
$0 $0 $0
BETH TSCHIDA DIRECTOR 2.00
Director
$0 $0 $0
SHARON KENNEDY VICKERS DIRECTOR 2.00
Director
$0 $0 $0
LONNI RANALLO VP OF FINANCE AND ADMINISTRATION 40.00
Officer
$132,969 $23,901 $156,870
MOLLY DOYLE VP, COMMUNITY & MEMBER ENGAGEMENT 40.00
Highest
$126,797 $16,855 $143,652
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 $2,425,062 $2,316,923 $1,045,832 $108,139
2023 $2,445,001 $2,386,217 $787,026 $58,784
2022 $2,367,285 $2,326,570 $801,816 $40,715
2021 $2,249,597 $2,013,028 $1,017,636 $236,569
2019 $2,593,482 $2,650,954 $541,882 $-57,472
2018 $2,604,757 $2,677,604 $622,347 $-72,847
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