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Nonprofiteer
← RED WING IGNITE

Form 990 for tax year 2022

Filed by RED WING IGNITE.

Totals

Total revenue
$1,143,443
Total expenses
$840,738
Contributions and grants received
$1,101,288
Grants paid
$0
Program service revenue
$40,030
Investment income
$0
Other revenue
$2,125
Total assets, end of year
$562,326
Total liabilities, end of year
$48,514
Net assets or fund balances, end of year
$513,812
Program services expenses (Part IX)
$752,759
Management and general expenses
$87,979
Fundraising expenses
$0
Program service expenses (Part III)
$752,759

Program services were 89.5% 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)

    $913,677

  • 1f · All other contributions, gifts and grants

    $187,611

  • 2a · Program service revenue: PROGRAM OFFICE SPACE

    total $24,253 · related or exempt $24,253

  • 2b · Program service revenue: SBDC INCOME

    total $15,777 · related or exempt $15,777

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $2,125 · related or exempt $2,125

  • 11e · Other revenue, total

    $2,125

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $93,283 · program services $93,283

  • 7 · Other salaries and wages

    total $92,665 · program services $91,824 · management and general $841

  • 8 · Pension plan contributions

    total $3,197 · program services $984 · management and general $2,213

  • 9 · Other employee benefits

    total $9,434 · program services $1,833 · management and general $7,601

  • 10 · Payroll taxes

    total $14,936 · program services $8,735 · management and general $6,201

  • 11c · Fees: accounting

    total $10,813 · management and general $10,813

  • 11g · Fees: other

    total $486,498 · program services $469,192 · management and general $17,306

  • 12 · Advertising and promotion

    total $12,926 · management and general $12,926

  • 13 · Office expenses

    total $63,310 · program services $58,496 · management and general $4,814

  • 14 · Information technology

    total $8,256 · program services $8,053 · management and general $203

  • 16 · Occupancy

    total $8,812 · program services $5,779 · management and general $3,033

  • 17 · Travel

    total $12,090 · program services $6,913 · management and general $5,177

  • 19 · Conferences, conventions and meetings

    total $8,354 · program services $4,326 · management and general $4,028

  • 22 · Depreciation, depletion and amortization

    total $3,175 · management and general $3,175

  • 23 · Insurance

    total $5,116 · management and general $5,116

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $4,562 · program services $1,437 · management and general $3,125

  • 24b · Other expenses: TRAINING

    total $1,676 · program services $1,651 · management and general $25

  • 24c · Other expenses: MISCELLANEOUS

    total $1,635 · program services $253 · management and general $1,382

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $105,105 · end of year $114,030

  • 3 · Pledges and grants receivable

    end of year $407,230

  • 4 · Accounts receivable

    end of year $8,977

  • 9 · Prepaid expenses and deferred charges

    beginning of year $338 · end of year $5,000

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

    $53,766

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

    $26,677

  • 10c · Land, buildings and equipment, net

    beginning of year $3,527 · end of year $27,089

  • 17 · Accounts payable and accrued expenses

    end of year $45,480

  • 25 · Other liabilities

    beginning of year $1,591 · end of year $3,034

  • 27 · Net assets without donor restrictions

    beginning of year $107,379 · end of year $513,812

Mission and programs · 2022

Mission

WE ADVANCE INNOVATION, TECHNOLOGY, AND ENTRERENEURS BY BRINGING TOGETHER LIKE-MINDED INDIVIDUALS TO CREATE A THRIVING COMMUNITY. WE PROVIDE RESOURCES, NETWORKS, AND NEEDED EXPERTISE FOR STUDENTS, STARTUPS, AND BUSINESSES TO SUCCEED.

Activities or mission (Part I)

RED WING IGNITE SUPPORTS ECONOMIC DEVELOPMENT AND TECHNOLOGICAL ADVANCEMENT IN THE ELEVEN COUNTIES OF SE MINNESOTA. WE PROVIDE RESOURCES, SUPPORT, EDUCATION AND NETWORKING OPPORTUNITIES TO STUDENTS, STARTUPS AND ENTREPRENEURS. OUR MISSION IS TO CREATE A THRIVING ECOSYSTEM THAT ENCOURAGES INNOVATION, JOB CREATION AND SUSTAINABLE GROWTH.

  • ADVANCING ENTREPRENEURS, STRENGTHENING OUR BUSINESS ENVIRONMENT, PARTNERING WITH REGIONAL, STATE AND NATIONAL NETWORKS. CONNECTING STUDENTS TO TECHNICAL TRAINING. NATIONAL RECOGNITION AND AWARDS: DESIGNATED AS A US IGNITE SMART CITY AND A CENTER OF RURAL INNOVATION (CORI) COMMUNITY, SELECTED FOR TWO CONGRESSIONALLY DIRECTED SPENDING GRANTS THROUGH THE US DEPARTMENT OF EDUCATION. COMPLETED THE US ECONOMIC DEVELOPMENT ADMINISTRATION I6CHALLENGE GRANT. ONE OF EIGHT RURAL COMMUNITIES IN THE UNITED STATES TO BE AWARDED THE HIGHLY COMPETITIVE US EDA BUILD TO SCALE GRANT, FOR THE MAXIMUM AWARD OF $4M IN OCTOBER OF 2022.STATE RECOGNITION AND AWARDS: MN DEPARTMENT OF EMPLOYMENT AND ECONOMIC DEVELOPMENT (MN DEED) DESIGNATED AS THE REGIONAL HUB FOR SE MINNESOTA THROUGH THE LAUNCHMN PROGRAM. HELD TWO STATE GRANTS THROUGH MN DEED AND ONE STATE GRANT THROUGH MN DEPARTMENT OF LABOR AND INDUSTRY. 2022 PROGRAM IMPACT: 274 ENTREPRENEURS SERVED, 174 OF THEM NEW USERS OF OUR SERVICES | HOSTED 47 EDUCATIONAL WORKSHOPS AND NETWORKING EVENTS | DELIVERED 1,246 HOURS OF EDUCATIONAL PROGRAMMING TO 549 ATTENDEES | HOSTED REGIONAL PITCH COMPETITION WITH THE WINNER QUALIFYING FOR AUTOMATIC SEMIFINALIST STATUS AT THE MNCUPNEW PROGRAMMING IN 2022: PEER GROUPS IN RED WING AND CANNON FALLS, BUSINESS FOUNDATIONS SERIES, BUSINESS PLAN IN A DAY WORKSHOPS, UNDERSTANDING FINANCE WORKSHOP, ENTREPRENEURIAL MINDSET COHORT AND COACHING, E5 EVENTS: ENTREPRENEUR EVENINGS, EDUCATE, ENTERTAIN, ENGAGESTUDENT PROGRAMMING: YOUTH WOODWORKING - SERVED 24 STUDENTSYOUTH CODING LEAGUE - SERVED 5 SCHOOLS, 103 5-8TH GRADE STUDENTS AND 6 TEAMS TOOK HOME 7 PRIZE CATEGORIES IN THE NATIONAL COMPETITIONLEARN AND EARN PROGRAM - TECHNICAL TRAINING PROGRAM FOR 11TH AND 12TH GRADE STUDENTS WITH WORKSITE PLACEMENTS

    Expenses $752,759 · Revenue $42,155

  • BUSINESS TECHNICAL ASSISTANCE TO ENTREPRENEURSPROVIDED 105 ENTREPRENEURS WITH TECHNICAL BUSINESS ASSISTANCE WITH 450 HOURS OF 1:1 MENTORING AND SUPPORTAWARDED $67,400 IN TECHNICAL ASSISTANCE GRANT FUNDING

  • RWI CO-WORKING SPACEHOSTED A CO-WORKING SPACE TO WORK AND MEET. HOSTED 50+ EXTERNAL GROUPS THAT UTILIZED MEETING SPACE. WELCOMED 35+ COW-WORKING MEMBERS INCLUDING DROP-IN USERS. MANAGED ABOUT 8,000 SQ FEET OF OFFICES, CONFERENCE ROOMS AND AMENITIES.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Paul Kramp

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Tom Drazkowski

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Matthew Lessard

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Beth Benike

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Atiq Bhatti

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tawonda Burks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stacy Nimmo

    EXECUTIVE DIRECTOR

    Total calculated
    $93,283
    From this org
    $87,708
    From related orgs
    $0
    Other
    $5,575
    Hours/week
    50

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
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202343129349302774

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