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Nonprofiteer
← CORCORAN NEIGHBORHOOD ORGANIZATION

Form 990 for tax year 2023

Filed by CORCORAN NEIGHBORHOOD ORGANIZATION.

Totals

Total revenue
$727,722
Total expenses
$793,690
Contributions and grants received
$689,457
Grants paid
$10,000
Program service revenue
$37,865
Investment income
$0
Other revenue
$400
Total assets, end of year
$507,744
Total liabilities, end of year
$6,990
Net assets or fund balances, end of year
$500,754
Program services expenses (Part IX)
$687,271
Management and general expenses
$92,301
Fundraising expenses
$14,118
Program service expenses (Part III)
$687,271

Program services were 86.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $567,527

  • 1f · All other contributions, gifts and grants

    $121,930

  • 2a · Program service revenue: Program income

    total $9,282 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Market

    total $28,583 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $400

  • 6c · Rental income or loss

    real property $400

  • 6d · Net rental income or loss

    total $400 · related or exempt $400

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000 · program services $10,000

  • 7 · Other salaries and wages

    total $185,792 · program services $130,054 · management and general $46,448 · fundraising $9,290

  • 9 · Other employee benefits

    total $18,027 · program services $12,619 · management and general $4,507 · fundraising $901

  • 10 · Payroll taxes

    total $15,150 · program services $10,605 · management and general $3,788 · fundraising $757

  • 11c · Fees: accounting

    total $6,128 · program services $0 · management and general $6,128 · fundraising $0

  • 11g · Fees: other

    total $396,530 · program services $396,530 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $99 · program services $99 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $773 · program services $0 · management and general $773 · fundraising $0

  • 14 · Information technology

    total $5,267 · program services $0 · management and general $5,267 · fundraising $0

  • 16 · Occupancy

    total $63,406 · program services $44,384 · management and general $15,852 · fundraising $3,170

  • 19 · Conferences, conventions and meetings

    total $8,039 · program services $8,039 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $7,427 · program services $0 · management and general $7,427 · fundraising $0

  • 24a · Other expenses: Printing and publications

    total $1,843 · program services $1,843 · management and general $0 · fundraising $0

  • 24b · Other expenses: Renters support

    total $22,971 · program services $22,971 · management and general $0 · fundraising $0

  • 24c · Other expenses: Food distribution

    total $13,628 · program services $13,628 · management and general $0 · fundraising $0

  • 24d · Other expenses: Program expenses

    total $22,410 · program services $22,410 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $16,200 · program services $14,089 · management and general $2,111 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $605,988 · end of year $475,227

  • 3 · Pledges and grants receivable

    beginning of year $50,800 · end of year $32,517

  • 4 · Accounts receivable

    beginning of year $174,492

  • 10a · Land, buildings and equipment: cost or other basis

    $240,830

  • 10b · Land, buildings and equipment: accumulated depreciation

    $240,830

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,849 · end of year $96

  • 19 · Deferred revenue

    beginning of year $342,248 · end of year $6,894

  • 27 · Net assets without donor restrictions

    beginning of year $357,303 · end of year $420,769

  • 28 · Net assets with donor restrictions

    beginning of year $129,880 · end of year $79,985

Mission and programs · 2023

Mission

Since its founding in 1975, CNO has sought to support and advance the following mission: Corcoran, in all our diversity, will strive to strengthen, improve, and protect the unique character, livability, and social fabric of our neighborhood.

Activities or mission (Part I)

We unite neighbors to strengthen our community CNO is a non-partisan information source, spokesperson, and advocate for the community on civic affairs and strives to engage community members on issues that may have a positive or negative impact on the community.

  • In 2023, the organization celebrated its 48th anniversary of being a place-based nonprofit in South Minneapolis with a clear focus on supporting community wellbeing through its resources, programs, and partnerships. This includes the Midtown Farmers Market (MFM) which has become a cornerstone program for the organization, and a beloved farmers market by vendors and patrons alike. The MFM has been able to adapt to a variety of challenges in the past several years that allowed it to still attract an estimated 30,000 market goers in 2023. Additionally, a relatively new program the C-Spot, which started based on significant need in 2020 arising from the impact of the COVID-19 pandemic and the civil uprising from the murder of George Floyd, which left many key grocery stores in the area inoperable for months; continued to serve the community until nearly the end of the year and supported well over 100,000 touch points with households.

    Expenses $687,271 · Grants $10,000 · Revenue $37,865

As filed on the 2023 return.

Listed in Part VII

  • Chloe Jackson

    Chair

    Total calculated
    $0
    Hours/week
    3

  • Matt Kazinka

    Treasurer

    Total calculated
    $0
    Hours/week
    3

  • Carolyn Washington

    Vice Chair

    Total calculated
    $0
    Hours/week
    3

  • Simon Riordan

    Secretary

    Total calculated
    $0
    Hours/week
    3

  • Alicia D Smith

    Executive Director

    Total calculated
    $110,396
    From this org
    $91,429
    From related orgs
    $8,682
    Other
    $10,285
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
24 April 2024
IRS schema version
2023v5.1
Source object
202403189349303785

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