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Midwest Precast Association FY2020 filing

Orono, MNUnknown exempt organizationEIN 20-4435876Revenue $503K in FY2020

On file with the IRSmidwestprecast.com135 Luce Line Trail · Orono, MN

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Educaton and awareness of the Precast industry

Mission: Form 990 Part I, line 1

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $30K a year · 5% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$19K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 7 voting members
Looks good: 6 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$503K
Spent
$443K
To programs
0%
Net assets
$324K
By yearFY2020–FY2025
Revenue
$503K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$503K
FY2021$489K
FY2022$594K
FY2023$615K
FY2024$613K
FY2025$686K
Expenses
$443K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$443K
FY2021$570K
FY2022$566K
FY2023$579K
FY2024$528K
FY2025$636K
Net assets
$324K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$324K
FY2021$243K
FY2022$272K
FY2023$308K
FY2024$393K
FY2025$442K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Mike Johnsrud
Pres/Exec Di
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Midwest Precast Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates and raises awareness about the precast concrete industry.

Questions for Midwest Precast Association

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Education and awareness of precast industry

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$503K
Ln 12
Fees for servicesLn 2g$503K
Money outPt IX
$443K
Ln 25
Owns and owesPt X
$324K
net assets · Ln 32
Cash and savingsLn 1–2$286K
Total assetsLn 16$343K
LiabilitiesLn 26$19K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$503K
Total revenueLn 12$503K
Assets in detailPt X, end of year
CashLn 1$286K
Cash and savings togetherLn 1–2$286K
Total assetsLn 16$343K
LiabilitiesLn 26$19K
Net assetsLn 32$324K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$195K$286K
Total assetsLn 16$264K$343K
LiabilitiesLn 26$0$19K
Net assetsLn 32$264K$324K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$195K
Payroll taxesLn 10$11K
Legal feesLn 11b$4K
Accounting feesLn 11c$2K
Office expensesLn 13$35K
TravelLn 17$11K
Conferences, conventions and meetingsLn 19$4K
Other expenses (24a–d)Ln 24$179K
All other expensesLn 24e$3K
Total functional expensesLn 25$443K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $686K$636K$50K$442K 990 PDF
FY2024 $613K$528K$85K$393K 990 PDF
FY2023 $615K$579K$36K$308K 990 PDF
FY2022 $594K$566K$29K$272K 990 PDF
FY2021 $489K$570K−$81K$243K 990 PDF
FY2020 Viewing $503K$443K$60K$324K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $503,388 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $474,594$503,388
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $474,594$503,388
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $201,970$206,293
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $325,969$236,852
I-18 Total expensesPrior year $527,939$443,145
I-19 Revenue less expensesPrior year −$53,345$60,243
Part VI · Governance 6 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $503,388 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $503,388$503,388
VIII-12 Total revenueRelated to mission $503,388$503,388
Part IX · Statement of functional expenses $443,145 across 9 lines filed
IX-7 Other salaries and wages$195,448
IX-10 Payroll taxes$10,845
IX-11b Legal fees$3,764
IX-11c Accounting fees$1,525
IX-13 Office expenses$35,385
IX-17 Travel$10,993
IX-19 Conferences, conventions and meetings$3,911
IX-24 Other expenses (24a–d)$178,586
IX-24e All other expenses$2,688
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$443,145
Part X · Balance sheet $342,845 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $194,840$285,516
X-4 Accounts receivableStart of year $64,379$57,329
X-16 Total assetsStart of year $263,874$342,845
X-17 Accounts payable and accrued expenses$18,728
X-26 Total liabilitiesStart of year $0$18,728
X-27 Net assets without donor restrictionsStart of year $243,874$324,117
X-32 Total net assets or fund balancesStart of year $263,874$324,117
X-33 Total liabilities and net assetsStart of year $263,874$342,845
Part XI · Reconciliation of net assets $324,117 net assets at year end
XI-1 Total revenue$503,388
XI-2 Total expenses$443,145
XI-3 Revenue less expenses$60,243
XI-4 Net assets at start of year$263,874
XI-10 Net assets at end of year$324,117

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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