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Nonprofiteer
← MASTERWORKS OF MINNEAPOLIS INC

Form 990 for tax year 2022

Filed by MASTERWORKS OF MINNEAPOLIS INC.

Totals

Total revenue
$830,095
Total expenses
$892,900
Contributions and grants received
$973,785
Grants paid
$43,826
Program service revenue
$0
Investment income
-$143,690
Other revenue
$0
Total assets, end of year
$555,530
Total liabilities, end of year
$79,809
Net assets or fund balances, end of year
$475,721
Program services expenses (Part IX)
$756,558
Management and general expenses
$130,473
Fundraising expenses
$5,869
Program service expenses (Part III)
$756,558

Program services were 84.7% 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.

  • 1f · All other contributions, gifts and grants

    $973,785

  • 3 · Investment income

    total -$143,690 · excluded -$143,690

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $43,826 · program services $43,826

  • 7 · Other salaries and wages

    total $457,181 · program services $379,460 · management and general $77,721

  • 10 · Payroll taxes

    total $44,457 · program services $36,899 · management and general $7,558

  • 11c · Fees: accounting

    total $5,521 · management and general $5,521

  • 11g · Fees: other

    total $2,558 · program services $2,558

  • 12 · Advertising and promotion

    total $5,869 · fundraising $5,869

  • 13 · Office expenses

    total $39 · management and general $39

  • 16 · Occupancy

    total $251,719 · program services $216,096 · management and general $35,623

  • 19 · Conferences, conventions and meetings

    total $960 · management and general $960

  • 22 · Depreciation, depletion and amortization

    total $13,768 · program services $11,703 · management and general $2,065

  • 24a · Other expenses: MERCHANT SERVICES

    total $21,282 · program services $21,282

  • 24b · Other expenses: STORE SUPPLIES

    total $18,301 · program services $18,301

  • 24c · Other expenses: TRUCK & ESTATE EXP

    total $10,760 · program services $10,760

  • 24d · Other expenses: EMPLOYEE EXPENSES

    total $7,627 · program services $7,627

  • 24e · All other expenses

    total $9,032 · program services $8,046 · management and general $986

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $245,951 · end of year $185,200

  • 9 · Prepaid expenses and deferred charges

    beginning of year $28,456 · end of year $31,545

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

    $90,835

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

    $36,810

  • 10c · Land, buildings and equipment, net

    beginning of year $53,682 · end of year $54,025

  • 11 · Investments: publicly traded securities

    beginning of year $222,410 · end of year $278,654

  • 14 · Intangible assets

    beginning of year $7,460 · end of year $1,492

  • 15 · Other assets

    end of year $4,614

  • 17 · Accounts payable and accrued expenses

    beginning of year $18,903 · end of year $79,809

  • 27 · Net assets without donor restrictions

    beginning of year $535,686 · end of year $475,721

  • 28 · Net assets with donor restrictions

    beginning of year $3,370

Mission and programs · 2022

Mission

PROVISION OF ECONOMIC SELF-SUFFICIENCY AND LIFE DEVELOPMENT SKILLS TO PEOPLE WITH BARRIERS TO EMPLOYMENT IN THE INNER-CITY OF MINNEAPOLIS THROUGH EMPLOYMENT AT COMPETITIVE WAGES AND INSTRUCTION, THEREBY REDUCING THE CYCLE OF DEPENDENCY ALL WHILE EVANGELIZING THEM IN THE LIFE CHANGING REALITIES OF JESUS CHRIST.

  • THE ORGANIZATION CONTINUED OPERATING HIDDEN TREASURES THRIFT STORE, EMPLOYING CLIENTS PARTICIPATING IN JOB TRAINING AND CHRISTIAN DISCIPLESHIP.

    Expenses $756,558 · Grants $43,826 · Revenue $973,785

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

Listed in Part VII

  • Steve Anderson

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Eduardo Domenzain

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey Sprinkel

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    2

  • Steve Vranyes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

  • JERICHO ROAD MINISTRIES

    $20,000

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202323199349326947

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