Totals
- Total revenue
- $1,129,892
- Total expenses
- $993,854
- Contributions and grants received
- $1,082,802
- Grants paid
- $0
- Program service revenue
- $43,139
- Investment income
- $0
- Other revenue
- $3,951
- Total assets, end of year
- $698,557
- Total liabilities, end of year
- $47,327
- Net assets or fund balances, end of year
- $651,230
- Program services expenses (Part IX)
- $882,274
- Management and general expenses
- $105,180
- Fundraising expenses
- $6,400
- Program service expenses (Part III)
- $882,274
Program services were 88.8% 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)
$948,281
-
1f · All other contributions, gifts and grants
$134,521
-
1g · Noncash contributions included above
$10,571
-
2a · Program service revenue: PROGRAM OFFICE SPACE
total $26,857 · related or exempt $26,857
-
2b · Program service revenue: SBDC INCOME
total $16,282 · related or exempt $16,282
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $3,951 · related or exempt $3,951
-
11e · Other revenue, total
$3,951
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $105,164 · program services $105,164
-
7 · Other salaries and wages
total $351,961 · program services $325,062 · management and general $26,899
-
8 · Pension plan contributions
total $3,455 · program services $3,187 · management and general $268
-
9 · Other employee benefits
total $32,138 · program services $29,976 · management and general $2,162
-
10 · Payroll taxes
total $34,181 · program services $32,147 · management and general $2,034
-
11c · Fees: accounting
total $49,216 · program services $8,400 · management and general $40,816
-
11g · Fees: other
total $298,787 · program services $286,337 · management and general $6,050 · fundraising $6,400
-
12 · Advertising and promotion
total $5,591 · management and general $5,591
-
13 · Office expenses
total $42,538 · program services $37,688 · management and general $4,850
-
14 · Information technology
total $8,201 · program services $7,780 · management and general $421
-
16 · Occupancy
total $17,075 · program services $17,075
-
17 · Travel
total $18,936 · program services $15,635 · management and general $3,301
-
19 · Conferences, conventions and meetings
total $7,249 · program services $4,957 · management and general $2,292
-
22 · Depreciation, depletion and amortization
total $6,172 · management and general $6,172
-
23 · Insurance
total $2,960 · management and general $2,960
-
24a · Other expenses: DUES AND SUBSCRIPTIONS
total $7,443 · program services $7,443
-
24b · Other expenses: OTHER
total $2,787 · program services $1,423 · management and general $1,364
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $114,030 · end of year $365,743
-
3 · Pledges and grants receivable
beginning of year $407,230 · end of year $302,305
-
4 · Accounts receivable
beginning of year $8,977 · end of year $1,488
-
9 · Prepaid expenses and deferred charges
beginning of year $5,000 · end of year $5,228
-
10a · Land, buildings and equipment: cost or other basis
$55,263
-
10b · Land, buildings and equipment: accumulated depreciation
$31,470
-
10c · Land, buildings and equipment, net
beginning of year $27,089 · end of year $23,793
-
17 · Accounts payable and accrued expenses
beginning of year $45,480 · end of year $32,888
-
19 · Deferred revenue
end of year $660
-
25 · Other liabilities
beginning of year $3,034 · end of year $13,779
-
27 · Net assets without donor restrictions
beginning of year $513,812 · end of year $634,023
-
28 · Net assets with donor restrictions
end of year $17,207
Mission and programs · 2023
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.
-
WE SERVE ENTREPRENEURS WITH EDUCATION, RESOURCES AND CONNECTIONS TO DRIVE THEIR SUCCESS.2023 PROGRAM IMPACT:1,072 ENTREPRENEURS SERVED BY RED WING IGITE THROUGHOUT THE 11 COUNTY REGION OF SE MINNESOTA26% ENTREPRENEURS SERVED SELF IDENTIFY AS BIPOC OR FROM A TRIBAL COMMUITY (WELL ABOVE CENSUS PARITY)66 BUSINESSES LAUNCHED26 COLLABORATIVE PARTNER ORGANIZATIONS WORKED WITH ON GRANT ACTIVITIES113 BUSINESS SUPPORT WORKSHOPS 266 ENTREPRENEURS RECEIVED CUSTOMIZED ASSISTANCE 80% OF ENTREPRENEUR SUREVY RESPONSES INDICATE PARTICIPATION RESULTED IN INCREASED CAPACITY FOR BUSINESS ADVANCEMENT 20 BUSINESS MENTORS CONNECTED TO ENTREPRENEURS12 ENTREPRENEURS PARTICIPATED IN BUSINESS ACCELERATOR PROGRAMMING MAJOR NATIONAL AND STATE RECOGNITION AND AWARDS: 2023 MN DEED DESIGNATION AS ENTREPRENEURIAL HUB IN SE MINNESOTA FOR THE LAUNCHMN PROGRAM 2022 EDA BUILD TO SCALE AWARD $4M. ONE OF EIGHT RURAL COMMUNITIES IN THE UNITED STATES TO BE AWARDED MINNEINNO BLAZER AWARD GIVEN BY TWIN CITIES BUSINESS MAGAZINE AS THE "TOP COMMUNITY BUILDER" IN MINNESOTA MN DEED SMALL BUSINESS PARTNERSHIP GRANT AWARDEE $436K2019 EDA I6 CHALLENGE GRANT AWARDEE $1.7M2018 SELECTED TO BE A PART OF THE CENTER ON RURAL INNOVATION INAUGURAL COHORT2014 FIRST RURAL COMMUNITY SELECTED BY US IGNITE AS A SMART CITY
Expenses $882,274 · Revenue $47,090
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
TOM DRAZKOWSKI
BOARD CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
PAUL KRAMP
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
BETH BENIKE
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
MATTHEW LESSARD
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
TAWONDA BURKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
ATIQ BHATTI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
BRIAN CARLSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
STACY NIMMO
EXECUTIVE DIRECTOR
- Total calculated
- $105,164
- From this org
- $99,930
- From related orgs
- $0
- Other
- $5,234
- 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
- 2023
- Filed
- 28 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413139349304466
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