MINNESOTA COLON AND RECTAL FOUNDATION

EIN: 411697334 501(c)(3) Medical Research

MINNEAPOLIS, MN

Total Revenue
$56,575
Total Expenses
$53,703
Total Assets
$3,399,913
Net Assets
$3,390,609
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1991
Legal Domicile
MN
Principal Officer
MICHAEL SPENCER
Phone
6513121543
Tax Period
2019-07-01 to 2020-06-30

MINNESOTA COLON AND RECTAL FOUNDATION, founded in 1991, is a micro nonprofit in the Medical Research sector that reported $57K in total revenue in fiscal year 2019. Revenue fell 70% from the prior year — a significant decline worth monitoring. Expenses of $54K left a modest 5% surplus.

Mission

MINNESOTA COLON AND RECTAL FOUNDATION IS DEDICATED TO IMPROVING COLORECTAL HEALTH THROUGH EDUCATION, OUTREACH, RESEARCH AND SPECIALIZED PHYSICIAN TRAINING

Program Service Accomplishments

Program 1
Expenses: $16,421 Revenue: $6,000

MINNESOTA COLON AND RECTAL FOUNDATION (MCRF), IN COORDINATION WITH THE UNIVERSITY OF MINNESOTA DEPARTMENT OF SURGERY, SUPPORTS AN ANNUAL COLON AND RECTAL SURGERY CONFERENCE HELD IN NOVEMBER 2019 IN...

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MINNESOTA COLON AND RECTAL FOUNDATION (MCRF), IN COORDINATION WITH THE UNIVERSITY OF MINNESOTA DEPARTMENT OF SURGERY, SUPPORTS AN ANNUAL COLON AND RECTAL SURGERY CONFERENCE HELD IN NOVEMBER 2019 IN MINNEAPOLIS. THE CONFERENCE ATTACTS HUNDREDS OF PHYSICIANS FROM ALL OVER THE WORLD AND PROVIDES CONTINUING EDUCATION REGARDING DIAGNOSTIC AND SURGICAL PROCEDURES.

Program 2
Expenses: $1,221

MINNESOTA COLON AND RECTAL FOUNDATION CONTINUES TO ACTIVELY PURSUE RESEARCH PROJECTS AND DATA COLLECTION THAT WILL POSITIVELY IMPACT THE LIVES OF PATIENTS WITH COLORECTAL CANCER AND OTHER COLORECTAL...

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MINNESOTA COLON AND RECTAL FOUNDATION CONTINUES TO ACTIVELY PURSUE RESEARCH PROJECTS AND DATA COLLECTION THAT WILL POSITIVELY IMPACT THE LIVES OF PATIENTS WITH COLORECTAL CANCER AND OTHER COLORECTAL DISORDERS THROUGH THE SUPPORT OF THE PHYSCIANS OF THE COLON AND RECTAL SURGERY ASSOCIATES.

Program 3
Expenses: $600

MINNESOTA COLON AND RECTAL FOUNDATION CONTINUES TO SUPPORT THE EDUCATIONAL EXPENSES OF SELECTED SURGICAL FELLOWS TO THE COLORECTAL RESIDENCY PROGRAM AT THE UNIVERSITY OF MINNESOTA. THIS SUPPORT MAY...

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MINNESOTA COLON AND RECTAL FOUNDATION CONTINUES TO SUPPORT THE EDUCATIONAL EXPENSES OF SELECTED SURGICAL FELLOWS TO THE COLORECTAL RESIDENCY PROGRAM AT THE UNIVERSITY OF MINNESOTA. THIS SUPPORT MAY INCLUDE THE DIRECT TRAINING OF PHYSICIANS, TRAVEL, TRAINING MATERIALS AND OTHER EDUCATIONAL OPPORTUNITIES THROUGHOUT THE YEAR. FELLOWS ARE ALSO GIVEN AN OPPORTUNITY TO ATTEND SPECIALTY TRAINING WORKSHOPS AND ARE ALSO PROVIDED VARIOUS BOOKS ADN EDUCATIONAL MATERIALS PURSUANT TO ADVANCED ENDOSCOPIC, LAPAROSCOPIC AND TRANSMISSION ELECTRON MICROSCOPY (TEM) TRAINING.

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Trantor Score

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

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $3,405
Program Service Revenue $6,000
Investment Income $47,170
Other Revenue $0
TOTAL REVENUE $56,575

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $135
Program Expenses $18,242
Other Expenses $53,703
TOTAL EXPENSES $53,703

Year-over-Year Comparison

2019 2018 Change
Revenue $56,575 $186,603 -0.7%
Expenses $53,703 $64,892 -0.2%
Net Income $2,872 $121,711 -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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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
5

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
STANLEY GOLDBERG BOARD MEMBER 1.00
Director
$0 $0 $0
KERRY MRAZ BOARD MEMBER 1.00
Director
$0 $0 $0
DAVID WILLIS BOARD MEMBER 1.00
Director
$0 $0 $0
MICHAEL SPENCER PRESIDENT 1.00
Officer
$0 $0 $0
MARK SUN SECRETARY/TR 1.00
Officer
$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
2020 $56,575 $53,703 $3,399,913 $2,872
2019 $186,603 $64,892 $3,193,569 $121,711
2018 $93,861 $101,551 $2,764,961 $-7,690
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