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Minnesota Builders Exchange FY2020 filing

Not tax-deductible

Bloomington, MN501(c)(6)Mutual / membership EIN 41-0414430Revenue $1.5M in FY2020

On file with the IRSmbex.org3800 American Boulevard West Suite, 55431-4420 · Bloomington, MNTax-exempt since Dec 1945

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To provide project information and networking opportunities to firms connected to the building construction industry

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
$258K 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

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
1 of 5
filings with a surplus
Average deficit $63K a year · 4% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$258K
to officers and key staff · 16% of spending
Fine: pay to officers and key staff is 16% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
24 mo
of spending, in cash
Looks good: 23.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
Spent
$1.7M
To programs
100%
Net assets
$2.4M
By yearFY2020–FY2024
Revenue
$1.5M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.5M
FY2021$1.6M
FY2022$1.4M
FY2023$1.7M
FY2024$1.8M
Expenses
$1.7M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.5M
FY2022$1.6M
FY2023$1.8M
FY2024$1.9M
Net assets
$2.4M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.4M
FY2021$2.6M
FY2022$2.4M
FY2023$2.4M
FY2024$2.3M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1945.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.7M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990; $258K paid to officers and key staff.

Part VII, Section A · reportable compensation
Tom Getzke
Executive Director/Secreta
$152,748Pt VII · Sec A
$104,817Pt VII · Sec A
Erik Molin
Vice President
$0Pt VII · Sec A
Ben Newlin
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Randy Lafaive
Treasurer
$0Pt VII · Sec A
Chris Hauck
Director
$0Pt VII · Sec A
Nate Sapik
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
David Siegel$178,820$175,180———
Tom Getzke——$122,177$141,500$152,748
Donald O'Connor$124,823$109,616$106,770$102,308$104,817

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.

See Minnesota Builders Exchange 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 15aYes

Programs and updates

Connects building construction firms with project information and networking.

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Provided by the organization

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3 programs · $1.7M · in their own filed words · FY2020
01

Provide project information via physical and virtual plan rooms and other information dissemination

$1.7Mprogram expense
02

Networking opportunities include parking lot barbecue, golf tournament, sporting clays and dinner cruise.

Pt IX · col B
03

News of Members and the Building Industry

Quarterly newsletter, weekly bulletin and annual directory

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.5M
Ln 12
Fees for servicesLn 2g$1.4M
Investment incomeLn 3$32K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.7M
Owns and owesPt X
$2.4M
net assets · Ln 32
Cash and savingsLn 1–2$3.2M
Total assetsLn 16$3.5M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
16
listed · VII A
PaidVII A2
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.4M
Investment incomeLn 3$32K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$1.5M
SavingsLn 2$1.7M
Cash and savings togetherLn 1–2$3.2M
Land, buildings, equipmentLn 10c$291K
Total assetsLn 16$3.5M
LiabilitiesLn 26$1.1M
Net assetsLn 32$2.4M
OperationsPt I, VI
EmployeesI 516
VolunteersI 678
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$3.4M$3.2M
Land, buildings, equipmentLn 10c$341K$291K
Total assetsLn 16$3.7M$3.5M
LiabilitiesLn 26$1.1M$1.1M
Net assetsLn 32$2.6M$2.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$153K
Other salaries and wagesLn 7$785K
Pension plan contributionsLn 8$39K
Other employee benefitsLn 9$173K
Payroll taxesLn 10$70K
Accounting feesLn 11c$26K
Other fees for servicesLn 11g$1K
Advertising and promotionLn 12$3K
Information technologyLn 14$60K
Conferences, conventions and meetingsLn 19$21K
InterestLn 20$2K
Depreciation, depletion and amortizationLn 22$47K
InsuranceLn 23$4K
Other expenses (24a–d)Ln 24$158K
All other expensesLn 24e$109K
Total functional expensesLn 25$1.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.8M$1.9M−$53K$2.3M 990 PDF
FY2023 $1.7M$1.8M−$32K$2.4M 990 PDF
FY2022 $1.4M$1.6M−$204K$2.4M 990 PDF
FY2021 $1.6M$1.5M$166K$2.6M 990 PDF
FY2020 Viewing $1.5M$1.7M−$192K$2.4M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,460,099 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,291,922$1,428,111
I-10 Investment incomePrior year $28,592$31,988
I-11 Other revenuePrior year $492,874$0
I-12 Total revenuePrior year $1,813,388$1,460,099
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,007,162$1,220,282
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $506,891$431,665
I-18 Total expensesPrior year $1,514,053$1,651,947
I-19 Revenue less expensesPrior year $299,335−$191,848
Part VI · Governance 13 of 13 board members independent, 2 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,460,099 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,363,658 · Unrelated business $64,453$1,428,111
VIII-3 Investment incomeExcluded from tax $31,988$31,988
VIII-12 Total revenueRelated to mission $1,363,658 · Unrelated business $64,453 · Excluded from tax $31,988$1,460,099
Part IX · Statement of functional expenses $1,651,947 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$152,748
IX-7 Other salaries and wages$785,423
IX-8 Pension plan contributions$39,318
IX-9 Other employee benefits$172,725
IX-10 Payroll taxes$70,068
IX-11c Accounting fees$26,355
IX-11g Other fees for services$1,179
IX-12 Advertising and promotion$3,323
IX-14 Information technology$60,157
IX-19 Conferences, conventions and meetings$20,646
IX-20 Interest$2,040
IX-22 Depreciation, depletion and amortization$47,157
IX-23 Insurance$3,536
IX-24 Other expenses (24a–d)$158,256
IX-24e All other expenses$109,016
IX-25 Total functional expenses$1,651,947
Part X · Balance sheet $3,534,683 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,691,623$1,496,293
X-2 Savings and temporary cash investmentsStart of year $1,710,144$1,737,675
X-9 Prepaid expenses and deferred chargesStart of year $5,703$9,308
X-10c Land, buildings and equipment, netStart of year $341,075$291,407
X-16 Total assetsStart of year $3,748,545$3,534,683
X-17 Accounts payable and accrued expensesStart of year $107,005$121,948
X-19 Deferred revenueStart of year $989,724$967,085
X-25 Other liabilitiesStart of year $14,318$0
X-26 Total liabilitiesStart of year $1,111,047$1,089,033
X-27 Net assets without donor restrictionsStart of year $2,637,498$2,445,650
X-32 Total net assets or fund balancesStart of year $2,637,498$2,445,650
X-33 Total liabilities and net assetsStart of year $3,748,545$3,534,683
Part XI · Reconciliation of net assets $2,445,650 net assets at year end
XI-1 Total revenue$1,460,099
XI-2 Total expenses$1,651,947
XI-3 Revenue less expenses−$191,848
XI-4 Net assets at start of year$2,637,498
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,445,650

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

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