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Nonprofiteer
← MINNESOTA REAL ESTATE FOUNDATION

Form 990 for tax year 2023

Filed by MINNESOTA REAL ESTATE FOUNDATION.

Totals

Total revenue
$5,051
Total expenses
$710
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$5,051
Total assets, end of year
$625,430
Total liabilities, end of year
$515,569
Net assets or fund balances, end of year
$109,861
Program services expenses (Part IX)
$0
Management and general expenses
$710
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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.

  • 11a · Other revenue: MANAGEMENT FEE INCOME

    total $5,051 · related or exempt $5,051

  • 11e · Other revenue, total

    $5,051

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $585 · management and general $585

  • 13 · Office expenses

    total $92 · management and general $92

  • 14 · Information technology

    total $33 · management and general $33

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $79,020 · end of year $82,381

  • 4 · Accounts receivable

    beginning of year $26,500 · end of year $27,480

  • 13 · Investments: program-related

    beginning of year $496,152 · end of year $515,569

  • 17 · Accounts payable and accrued expenses

    end of year $980

  • 25 · Other liabilities

    beginning of year $496,152 · end of year $514,589

  • 27 · Net assets without donor restrictions

    beginning of year $105,520 · end of year $109,861

Mission and programs · 2023

Mission

TO BUILD COMMUNITY BY SIMPLIFYING AND FACILITATING THE GIFTING OF REAL ESTATE.

Activities or mission (Part I)

BUILD COMMUNITY BY FACILITATING GIFTING OF REAL ESTATE

  • THE MINNESOTA REAL ESTATE FOUNDATION (MREF), A SUPPORTING ENTITY OF COMMUNITYGIVING, IS ORGANIZED AND OPERATED EXCLUSIVELY FOR THE BENEFIT OF AND TO CARRY OUT THE PURPOSES OF COMMUNITYGIVING BY FACILITATING THE CHARITABLE GIFTING OF REAL ESTATE FROM INDIVIDUALS AND OTHER ENTITIES FOR THE BENEFIT OF COMMUNITYGIVING AND OTHER NONPROFITS AROUND THE STATE OF MINNESOTA. MREF PROVIDED ASSISTANCE TO NONPROFITS THROUGH PRESENTATIONS TO BOARDS AND COMMITTEES AND PROVIDED CONSULTATIONS TO THEM IN COMPLETING REAL ESTATE TRANSACTIONS. IN ADDITION TO TRADITIONAL NONPROFIT ORGANIZATIONS, MREF PROVIDES SERVICES TO STATE AND PRIVATE COLLEGES AND CITY GOVERNMENTS.

As filed on the 2023 return.

Listed in Part VII

  • Leigh Lenzmeier

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Brian Zimny

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • David Werschay

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Steve Peterson

    EX-OFFICIO CG BOARD CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • James Ringwald

    EX-OFFICIO CG TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Scott Hamak

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Steven Joul

    PRESIDENT & CEO

    Total calculated
    $257,476
    From this org
    $0
    From related orgs
    $235,923
    Other
    $21,553
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $203,403 related
    Bonus
    $0 + $30,000 related
    Other
    $0 + $2,520 related
    Deferred
    $0 + $18,526 related
    Nontaxable benefits
    $0 + $3,027 related
    Filer's total
    $0 + $257,476 related

  • Greta Stark-Kraker

    CMCF EXECUTIVE DIRECTOR

    Total calculated
    $140,712
    From this org
    $0
    From related orgs
    $128,607
    Other
    $12,105
    Hours/week
    1 + 40 related

  • Elise Wiener

    CG CHIEF FINANCIAL OFFICER

    Total calculated
    $159,290
    From this org
    $0
    From related orgs
    $146,865
    Other
    $12,425
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $133,345 related
    Bonus
    $0 + $12,700 related
    Other
    $0 + $820 related
    Deferred
    $0 + $11,551 related
    Nontaxable benefits
    $0 + $874 related
    Filer's total
    $0 + $159,290 related

  • Sara Carlson

    WACF EXECUTIVE DIRECTOR

    Total calculated
    $172,197
    From this org
    $0
    From related orgs
    $124,645
    Other
    $47,552
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $111,789 related
    Bonus
    $0 + $11,936 related
    Other
    $0 + $920 related
    Deferred
    $0 + $9,858 related
    Nontaxable benefits
    $0 + $37,694 related
    Filer's total
    $0 + $172,197 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
STEVEN'S COMPENSATION IS APPROVED BY THE BOARD OF DIRECTORS OF COMMUNITYGIVING.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
6 November 2024
IRS schema version
2023v5.1
Source object
202403129349301535

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