ENTERPRISE MINNESOTA

EIN: 411595930 501(c)(3) Public & Societal Benefit

MINNEAPOLIS, MN

Total Revenue
$5,860,262
Total Expenses
$5,831,875
Total Assets
$3,929,515
Net Assets
$2,177,912
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
MN
Principal Officer
ROBERT KILL
Phone
6123732900
Tax Period
2022-07-01 to 2023-06-30

ENTERPRISE MINNESOTA, founded in 1987, is a community nonprofit in the Public & Societal Benefit sector that reported $5.9M in total revenue in fiscal year 2022. Revenue decreased 10% compared to the prior year.

Mission

TO PROMOTE ECONOMIC GROWTH AND JOB CREATION THROUGH APPLIED RESEARCH, TECHNOLOGY TRANSFER, AND PRODUCTIVE DEVELOPMENT.

Program Service Accomplishments

Program 1
Expenses: $5,155,865 Revenue: $2,430,562

ENTERPRISE MINNESOTA HELPS SMALL AND MID-SIZED MANUFACTURERS DEVELOP AND IMPLEMENT STRATEGIES TO GROW BUSINESS. WHETHER WALKING THROUGH THE LEAN MANUFACTURING PROCESS OR TRAINING ON THE LATEST...

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ENTERPRISE MINNESOTA HELPS SMALL AND MID-SIZED MANUFACTURERS DEVELOP AND IMPLEMENT STRATEGIES TO GROW BUSINESS. WHETHER WALKING THROUGH THE LEAN MANUFACTURING PROCESS OR TRAINING ON THE LATEST MANAGEMENT STRATEGIES, WE HELP MANUFACTURING BUSINESSES COMPETE AND GROW PROFITABLY. OUR INDUSTRY EXPERTS ARE LOCATED ACROSS MINNESOTA TO HELP CLIENTS ACHIEVE THEIR GOALS AND BECOME WORLD-CLASS MANUFACTURERS. ENTERPRISE MINNESOTA IS AN AFFILIATE OF THE NATIONAL MEP NETWORK PART OF THE U.S. DEPARTMENT OF COMMERCE'S NATIONAL INSTITUTE OF STANDARDS AND TECHNOLOGY, (NIST), AND ASSISTS SMALL AND MEDIUM SIZED MANUFACTURING COMPANIES BY PROVIDING PRODUCTS AND SERVICES DESIGNED TO HELP THEM SUCCEED. (CONTINUED ON SCHEDULE O)(CONTINUED FROM PART III)ENTERPRISE MINNESOTA HAS SUCCESSFULLY LEVERAGED THIS FEDERAL SUPPORT FOR MORE THAN 30 YEARS AND ADMINISTRATING THE COOPERATIVE AGREEMENT THAT PROVIDES FOR THE MEP CENTER IN MINNESOTA. IN THE PAST THREE YEARS ALONE, WE ACCOMPLISHED THE FOLLOWING: - 584 MINNESOTA COMPANIES RECEIVED CRITICAL BUSINESS ASSISTANCE.- THESE COMPANIES REALIZED A POSITIVE ECONOMIC IMPACT OF $1.4 MILLION TO THEIR BOTTOM LINE IN INCREASED SALES, REDUCED PRODUCTION COSTS, AND IMPROVED EMPLOYEE UTILIZATION. - MORE THAN 6,220 JOBS HAVE BEEN CREATED OR RETAINED. IN ADDITION TO OUR CONSULTING SERVICES, ENTERPRISE MINNESOTA OFFERED THREE GREAT WAYS TO KEEP UP WITH THE LATEST MANUFACTURING NEWS IN MINNESOTA; ENTERPRISE MAGAZINE, E-TRENDS NEWSLETTER, AND THE ANNUAL STATE OF MANUFACTURING POLL, A STATEWIDE RESEARCH PROJECT THAT INCLUDES HUNDREDS OF PHONE SURVEYS AND SEVERAL FOCUS GROUPS WITH MANUFACTURING EXECUTIVES ACROSS THE STATE.

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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 (2022)

Revenue Breakdown

Contributions & Grants $3,319,480
Program Service Revenue $2,492,697
Investment Income $48,085
Other Revenue $0
TOTAL REVENUE $5,860,262

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,525,445
Fundraising Expenses $0
Program Expenses $5,155,865
Other Expenses $1,306,430
TOTAL EXPENSES $5,831,875

Year-over-Year Comparison

2022 2021 Change
Revenue $5,860,262 $6,487,386 -0.1%
Expenses $5,831,875 $5,612,454 +0.0%
Net Income $28,387 $874,932 -1.0%
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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Governance

Voting Members
8
Independent Members
8
Employees
36
Volunteers
8

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
6
$846,416
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GREG BUCK DIRECTOR 1.00
Director
$0 $0 $0
JOE MULFORD DIRECTOR 1.00
Director
$0 $0 $0
JOE PLUNGER DIRECTOR 1.00
Director
$0 $0 $0
HOLLY MINNE DIRECTOR 1.00
Director
$0 $0 $0
MARK NELSON DIRECTOR 1.00
Director
$0 $0 $0
MATT HANSON DIRECTOR 1.00
Director
$0 $0 $0
MIKE JENSEN DIRECTOR 1.00
Director
$0 $0 $0
PAUL EBNET CHAIR 1.00
Officer Director
$0 $0 $0
STEVE PALMER VICE-CHAIR 1.00
Officer Director
$0 $0 $0
JOHN CONNELLY VP OF CONSULTING 40.00
Officer
$164,479 $20,609 $185,088
ROBERT KILL PRESIDENT AND CEO 40.00
Officer
$251,897 $25,299 $277,196
LYNN SHELTON VP OF MARKETING 40.00
Officer
$166,205 $22,847 $189,052
PATRICIA VASATKA VP OF FINANCE 40.00
Officer
$155,389 $39,691 $195,080
KEITH GADACZ CONSULTANT 40.00
Highest
$106,026 $35,022 $141,048
ALLY JOHNSTON CONSULTANT 40.00
Highest
$110,012 $34,685 $144,697
WILLIAM MARTINSON BUSINESS DEVELOPER 40.00
Highest
$123,733 $35,903 $159,636
STEVEN HAARSTAD CONSULTANT 40.00
Highest
$105,841 $36,547 $142,388
GEORGE TANGEN RELATIONSHIP MANAGER 40.00
Highest
$106,252 $32,117 $138,369
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
2025 No data No data No data No data
2024 No data No data No data No data
2023 $5,860,262 $5,831,875 $3,929,515 $28,387
2022 $6,487,386 $5,612,454 $3,826,977 $874,932
2021 $6,082,490 $5,413,250 $3,569,693 $669,240
2020 $4,550,459 $5,156,461 $2,760,287 $-606,002
2019 $5,079,232 $5,268,347 $2,794,012 $-189,115
2018 $5,298,618 $5,567,115 $3,291,167 $-268,497
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