Special Olympics Minnesota Inc
- Assets
- $13.4m
- Revenue
- $10.5m
- Investments
- $0.0
- Employees
- 60
- Location
- Minneapolis, MN
- Founding
- 06/1974
- Data as of
- 12/2022
- EIN
- 41-1228157
Organization Overview
Special Olympics Minnesota Inc is located in Minneapolis, MN. The organization was established in 1974. According to its NTEE Classification (N72) the organization is classified as: Special Olympics, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Special Olympics Minnesota Inc employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Special Olympics Minnesota Inc 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 12/2022, Special Olympics Minnesota Inc generated $10.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $7.7m during the year ending 12/2022. While expenses have increased by 2.3% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OFFERS PEOPLE WITH INTELLECTUAL DISABILITIES YEAR-ROUND SPORTS TRAINING AND COMPETITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPORTS AND TRAINING: SEE SCHEDULE O FOR MORE INFORMATION.
HEALTH AND LEADERSHIP: SEE SCHEDULE O FOR MORE INFORMATION.
YOUTH AND SCHOOLS: SEE SCHEDULE O FOR MORE INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abby Hirsch Treasurer | OfficerTrustee | 1 | $0 |
Kiel Mcelveen Vice Chair | OfficerTrustee | 1 | $0 |
Chris Passaro Board Member | Trustee | 1 | $0 |
Rayne Olson Board Member | Trustee | 1 | $0 |
Dan Kropp Board Member | Trustee | 1 | $0 |
Emily Peterson Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $4,312,588 |
| Related organizations | $0 |
| Government grants | $700,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,656,948 |
| Noncash contributions included in lines 1a–1f | $61,553 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,669,536 |
| Total Program Service Revenue | $1,440 |
| Investment income | $125,036 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$391,131 |
| Net Income from Gaming Activities | $61,663 |
| Net Income from Sales of Inventory | $4,148 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,481,322 |
| 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. | $373,064 |
| Compensation of current officers, directors, key employees. | $298,450 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,589,783 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $343,900 |
| Payroll taxes | $209,161 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,778 |
| Fees for services: Accounting | $23,444 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,755 |
| Fees for services: Other | $101,796 |
| Advertising and promotion | $173,897 |
| Office expenses | $162,163 |
| Information technology | $98,877 |
| Royalties | $0 |
| Occupancy | $383,329 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,761 |
| Interest | $0 |
| Payments to affiliates | $123,983 |
| Depreciation, depletion, and amortization | $218,357 |
| Insurance | $75,442 |
| All other expenses | $199,757 |
| Total functional expenses | $7,700,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,975,481 |
| Savings and temporary cash investments | $10 |
| Pledges and grants receivable | $204,275 |
| 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 | $12,546 |
| Prepaid expenses and deferred charges | $691,119 |
| Net Land, buildings, and equipment | $908,445 |
| Investments—publicly traded securities | $4,008,839 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,641,602 |
| Total assets | $13,442,317 |
| Accounts payable and accrued expenses | $269,590 |
| Grants payable | $0 |
| Deferred revenue | $82,320 |
| 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 | $2,632,609 |
| Total liabilities | $2,984,519 |
| Net assets without donor restrictions | $7,400,906 |
| Net assets with donor restrictions | $3,056,892 |
| 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 | $13,442,317 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Special Olympics Minnesota Inc Minneapolis, MN | $13,442,317 | $10,481,322 |
Special Olympics Wisconsin Inc Madison, WI | $9,609,383 | $4,993,290 |
Iowa Special Olympics Inc Grimes, IA | $5,004,217 | $2,952,325 |
Special Olympics South Dakota Inc Sioux Falls, SD | $5,489,274 | $1,455,008 |
2026 Special Olympics Usa Games St Paul, MN | $2,554,542 | $2,727,899 |
Roll With It Saint Cloud, MN | $49,681 | $0 |