Mnsbir INC

Tax-deductible

Bloomington, MN501(c)(3)Community DevelopmentEIN 32-0685806

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To empower MN startups & small businesses to transform their novel technologies into revenue-generating products & services. To drive innovation, create jobs, & stimulate economic growth through federal research & development investment empowering small businesses to commerci

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$185K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $407K a year · 50% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$185K
to officers and key staff · 42% of spending
Top officer’s pay higher than 89% of similar orgs
Concern: pay to officers and key staff is 42% of spending; over 30%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$127K
79% of total assets
Worth a look: liabilities are 79% of assets; over 65%.
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
$465K
-60% vs prior year
Spent
$442K
To programs
85%
Net assets
$34K
By yearFY2023–FY2024
Revenue
$465K
FY2024▼ -60%
Revenue by fiscal year
FY2023$1.2M
FY2024$465K
Expenses
$442K
FY2024▲ +22%
Expenses by fiscal year
FY2023$363K
FY2024$442K
Net assets
$34K
FY2024▼ -97%
Net assets by fiscal year
FY2023$1.0M
FY2024$34K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2023.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $378K Management & general 15% · $64K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990; $185K paid to officers and key staff.

Part VII, Section A · reportable compensation
President and CEO
$145,000Pt VII · Sec A
VP Finance and Administration
$40,000Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A

Patsy Dillon’s $145K as President and CEO is at the 89th percentile of top reported officer pay among 1708 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023
Patsy Dillon—$145,500
Patsy Dillon$145,000—
Taunia Gorka$40,000—
Taunia Gorka—$32,547

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Helps Minnesota startups turn new technologies into profitable products and services.

Provided by the organization

This section is blank until Mnsbir INC claims this page.

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1 program service account for $378K of program spending, described in the organization's own filed words · FY2024.
01

Mnsbir, inc. Empowers MN small businesses to transform their novel technologies into revenue-generating products and services to drive innovation, create jobs, and stimulate economic growth through federal research and development funding with a concentrated focus on the small business innovation research and small business technology…

$378Kprogram expense

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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$465K
Ln 12
Gifts and grantsLn 1h$452K
Fees for servicesLn 2g$13K
Money outPt IX
$442K
Ln 25
Programscol B$378K
Managementcol C$64K
Owns and owesPt X
$34K
net assets · Ln 32
Cash and savingsLn 1–2$38K
Total assetsLn 16$161K
LiabilitiesLn 26$127K
PeoplePt VI, VII
8
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$452K
Government grantsLn 1e$442K
Fees for servicesLn 2g$13K
Total revenueLn 12$465K
Assets in detailPt X, end of year
CashLn 1$37K
SavingsLn 2$1K
Cash and savings togetherLn 1–2$38K
Total assetsLn 16$161K
LiabilitiesLn 26$127K
Net assetsLn 32$34K
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$35K$38K
Total assetsLn 16$1.1M$161K
LiabilitiesLn 26$1.2M$127K
Net assetsLn 32−$85K$34K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$188K$150K$39K
Payroll taxesLn 10$12K$10K$1K
Other fees for servicesLn 11g$215K$193K$21K
Office expensesLn 13$5K$4K$477
OccupancyLn 16$6K$6K$624
Conferences, conventions and meetingsLn 19$6K$5K$561
InsuranceLn 23$4K$4K$449
Other expenses (24a–d)Ln 24$6K$5K$565
Total functional expensesLn 25$442K$378K$64K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $465K$442K$23K$34K 990 PDF
FY2023 $1.2M$363K$792K$1.0M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $464,536 across 5 lines filed
VIII-1e Government grants$441,515
VIII-1f All other contributions, gifts and grants$10,000
VIII-1h Total contributions, gifts and grants$451,515
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $13,021$13,021
VIII-12 Total revenueRelated to mission $13,021 · Unrelated business $0 · Excluded from tax $0$464,536
Part IX · Statement of functional expenses $441,677 across 8 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $149,544 · Management $38,838$188,382
IX-10 Payroll taxesPrograms $10,437 · Management $1,160$11,597
IX-11g Other fees for servicesPrograms $193,429 · Management $21,492$214,921
IX-13 Office expensesPrograms $4,295 · Management $477$4,772
IX-16 OccupancyPrograms $5,619 · Management $624$6,243
IX-19 Conferences, conventions and meetingsPrograms $5,049 · Management $561$5,610
IX-23 InsurancePrograms $4,041 · Management $449$4,490
IX-24 Other expenses (24a–d)Programs $5,097 · Management $565$5,662
IX-25 Total functional expensesPrograms $377,511 · Management $64,166 · Fundraising $0$441,677
Part X · Balance sheet $161,129 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $33,515$37,155
X-2 Savings and temporary cash investmentsStart of year $1,000$1,001
X-3 Pledges and grants receivableStart of year $1,095,000$119,382
X-9 Prepaid expenses and deferred chargesStart of year $4,503$3,591
X-16 Total assetsStart of year $1,134,018$161,129
X-17 Accounts payable and accrued expensesStart of year $108,896$126,914
X-26 Total liabilitiesStart of year $1,218,896$126,914
X-27 Net assets without donor restrictionsStart of year −$84,878$34,215
X-32 Total net assets or fund balancesStart of year −$84,878$34,215
X-33 Total liabilities and net assetsStart of year $1,134,018$161,129
Part XI · Reconciliation of net assets $34,215 net assets at year end
XI-1 Total revenue$464,536
XI-2 Total expenses$441,677
XI-3 Revenue less expenses$22,859
XI-4 Net assets at start of year−$84,878
XI-8 Prior period adjustments$96,234
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$34,215

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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