Minnesota Association Of Financial Aid Administrators
- Assets
- $424.1k
- Revenue
- $55.2k
- Investments
- $0.0
- Employees
- 0
- Location
- St Paul, MN
- Founding
- 07/1997
- Data as of
- 06/2022
- EIN
- 36-3297850
Organization Overview
Minnesota Association Of Financial Aid Administrators is located in St Paul, MN. The organization was established in 1997. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Association Of Financial Aid Administrators is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Minnesota Association Of Financial Aid Administrators generated $55.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (10.4%) each year. All expenses for the organization totaled $61.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (13.7%) per year over the past 3 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MAFAA'S MISSION IS TO PROVIDE TRAINING, RESEARCH, EXPERTISE AND ADVOCACY IN SUPPORT OF THE TIMELY, ACCURATE AND ETHICAL DELIVERY OF FINANCIAL AID FUNDS TO MINNESOTA STUDENTS. IN PURSUIT OF THIS MISSION, MAFAA'S FOCUS IS COLLEGIAL IN APPROACH, INCLUSIVE IN PRACTICE, INTENTIONAL IN ACTION AND STUDENT-FOCUSED IN INTENT, DEALING WITH DIVISIVE ISSUES BEFORE THEY ARE USED TO DIVIDE US AND SEEKING SOLUTIONS THAT ARE INCLUSIVE OF ALL PROVIDERS OF HIGHER EDUCATION IN MINNESOTA. GOALS ARE TO SUPPORT AND PROVIDE QUALITY TRAINING OPPORTUNITIES TO MEMBERS AND RELATED CONSTITUENCIES, EFFECTIVELY COMMUNICATE WITH CONSTITUENTS, PROMOTE THE VALUE OF HIGHER EDUCATION AND THE NEED FOR ADEQUATE STUDENT FINANCIAL AID FUNDING, SERVE AS RESEARCH AND INFORMATION RESOURCE TO MAFAA MEMBERS, STUDENTS AND POLICY MAKERS, REINFORCE THE ROLE AND IMPORTANCE OF IMPACT THAT FINANCIAL AID PROFESSIONALS PLAY IN HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES TO EDUCATE AND INFORM MAFAA MEMBERS ABOUT FINANCIAL AID ADMINISTRATION CHANGES AND UPDATES.
PROFESSIONAL DEVELOPMENT, LEADERSHIP TRAINING, BASIC AND ADVANCED WORKSHOPS, NATIONAL ASSOCIATION OF STUDENT FINANCIAL AID ADMINISTRATORS TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Roelke President | OfficerTrustee | 4 | $0 |
Michael Crider President Elect | OfficerTrustee | 4 | $0 |
Sheila Krause Vice President | OfficerTrustee | 2 | $0 |
Carolyn Chesebrough Past President | OfficerTrustee | 1.5 | $0 |
Simon Bauer Treasurer | OfficerTrustee | 4 | $0 |
Kristi L'allier Treasurer Elect | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $20,050 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,050 |
| Total Program Service Revenue | $14,172 |
| Investment income | $12,392 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,634 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,248 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $11,854 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,250 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,123 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,141 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $61,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $30,087 |
| 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 | $0 |
| Investments—publicly traded securities | $393,984 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $424,071 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $16,800 |
| 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 | $16,800 |
| Net assets without donor restrictions | $407,271 |
| 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 | $424,071 |