Fair Contracting Foundation Of Minnesota
- Assets
- $3.7m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 7
- Location
- St Paul, MN
- Founding
- 09/2014
- Data as of
- 06/2023
- EIN
- 32-0414267
Organization Overview
Fair Contracting Foundation Of Minnesota is located in St Paul, MN. The organization was established in 2014. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 06/2023, Fair Contracting Foundation Of Minnesota employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fair Contracting Foundation Of Minnesota is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2023, Fair Contracting Foundation Of Minnesota generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.2m during the year ending 06/2023. While expenses have increased by 6.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FAIR CONTRACTING FOUNDATION ADVANCES THE MUTUAL INTERESTS OF MINNESOTA'S CONSTRUCTION INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROMOTES PREVAILING WAGE LAW EDUCATION, COMPLIANCE AND ENFORCEMENT. IT ADVOCATES FOR PRACTICES, POLICIES AND LAWS THAT ENSURE FAIR GOVERNMENT CONTRACTS, A STRONG LOCAL INDUSTRY AND PROTECTION OF THE PUBLIC INTEREST. THE FOUNDATION, AMONG OTHER THINGS, PERFORMS THE FOLLOWING: ASSISTS WITH DATA PRACTICES REQUESTS; PROVIDES CURRENT PROJECT LISTS BY REGION EACH MONTH; PERFORMS LEGAL RESEARCH; ANALYZES CONTRACT SPECIFICATIONS AND RECORDS; FIELDS TELEPHONE CALLS FROM CONTRACTORS AND WORKERS; BUILDS RELATIONSHIPS WITH GOVERNMENT AGENCIES; WORKS THROUGH DIFFICULT BIDDING ISSUES; PROVIDES FREE TRAINING FOCUSING ON PERFORMING BID PROTESTS PROPERLY AND USING GOOD FOLLOW UP TECHNIQUES; AND HELPS COLLECT UNPAID WAGES FOR WORKERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Wilde Executive Di | Officer | 40 | $213,031 |
Doug Schroeder President/ch | OfficerTrustee | 2 | $0 |
Martha Hendrickson Secretary/tr | OfficerTrustee | 2 | $0 |
Dominic Andrist Trustee, Uni | Trustee | 2 | $0 |
Mark Conroy Trustee, Uni | Trustee | 2 | $0 |
Barry Davies Trustee, Uni | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,248,095 |
| Investment income | $104,074 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,352,169 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $150,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $277,920 |
| Compensation of current officers, directors, key employees. | $55,585 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $359,221 |
| Pension plan accruals and contributions | $40,325 |
| Other employee benefits | $78,030 |
| Payroll taxes | $41,009 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,217 |
| Advertising and promotion | $64,982 |
| Office expenses | $25,200 |
| Information technology | $11,152 |
| Royalties | $0 |
| Occupancy | $64,231 |
| Travel | $14,791 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,834 |
| Insurance | $17,825 |
| All other expenses | $362 |
| Total functional expenses | $1,199,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,969 |
| Savings and temporary cash investments | $2,420,757 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $32,062 |
| Investments—publicly traded securities | $1,076,959 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,662,747 |
| Accounts payable and accrued expenses | $36,006 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $36,006 |
| Net assets without donor restrictions | $3,626,741 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,662,747 |