Turnaround Management Association Minnesota Chapter
- Assets
- $162.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Chanhassen, MN
- Founding
- 11/2002
- Data as of
- 12/2021
- EIN
- 41-1911072
Organization Overview
Turnaround Management Association Minnesota Chapter is located in Chanhassen, MN. The organization was established in 2002. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Turnaround Management Association Minnesota Chapter is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Turnaround Management Association Minnesota Chapter generated $92.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $49.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
1. THE TURNAROUND MANAGEMENT ASSOCIATION, MINNESOTA CHAPTER(TMA/MN) IS A LOCAL CHAPTER OF THE INTERNATIONAL TMA ASSOCIATION (TMA). THE TMA SERVES AS A FORUM FOR CONVENING CORPORATE RENEWAL PROFESSIONALS FROM ALL DISCIPLINES TO EXCHANGE INFORMATION, IDEAS, AND KNOWLEDGE ON THE CORPORATE RENEWAL PROFESSION. THE TMA PROMOTES HIGH STANDARDS OF PROFESSIONAL PRACTICE AND IMPROVED METHODOLOGIES IN THE DISCIPLINE. THE TMA ALSO FOSTERS PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR CORPORATE RENEWAL PROFESSIONALS. IT SERVES AS A CLEARINGHOUSE OF INFORMATION AND RESEARCH PERTINENT TO THE PROFESSION AND PROMOTES THE IMAGE OF THE INTERNATIONAL TMA. THE TMA/MN CONDUCTS APPROXIMATELY 16 EVENTS A YEAR IN AND AROUND MINNEAPOLIS, MN FOCUSING ON THE FOLLOWING TOPICS: - NETWORKING OPPORTUNITIES FOR CORPORATE RENEWAL PROFESSIONALS; - EDUCATIONAL EVENTS-LEGAL/BANKRUPTCY, ACCOUNTING OR TURNAROUND CONSULTING TOPICS, - SPEAKERS OR PANELISTS THAT EDUCATE PROFESSIONALS ON THEIR WORK IN THE CORPORATE RENEWAL PROFESSION OR OTHER SPECIFIC TOPICS RELATED TO THE LOCAL OR NATIONAL ECONOMY. IN ADDITION, THE INTERNATIONAL TMA PROVIDES ANNUAL CONFERENCES, A WEBSITE, AN AWARD PROGRAM, AND A DIRECTORY LISTING OF ALL MEMBERS.2. THE TMA/MN RECEIVES SUPPORT FROM CORPORATE SPONSORS IN THE LOCAL COMMUNITY, AND A PERCENTAGE OF THE DUES PAID TO THE INTERNATIONAL TMA ORGANIZATION. FEES FROM PROFESSIONAL AND EDUCATIONAL EVENTS ARE PLANNED TO OFFSET THE EXPENSE OF CONDUCTING THESE EVENTS.3. EVENT SCHEDULEDATE : WEDNESDAY, JANUARY 13EVENT : 2020 TRANSACTION OF THE YEAR AWARD PRESENTATIONLOCATION : ONLINEDATE : WEDNESDAY, JANUARY 27EVENT : SOCIAL/NETWORKINGLOCATION : ONLINEDATE : TUESDAY, FEBRUARY 16EVENT : CHAPTER PROGRAMLOCATION : ONLINEDATE : WEDNESDAY, MARCH 3EVENT : NEXT GEN PROGRAMLOCATION : ONLINEDATE : WEDNESDAY, MARCH 18EVENT : 2020 TURNAROUND OF THE YEAR AWARD PRESENTATIONLOCATION : ONLINEDATE : THURSDAY, APRIL 22EVENT : CHAPTER PROGRAMLOCATION : ONLINEDATE : THURSDAY, MAY 13EVENT : CHAPTER PROGRAMLOCATION : ONLINEDATE : THURSDAY, JUNE 17EVENT : NETWORK OF WOMEN W/RMA MN CHAPTERLOCATION : BROOKVIEW GOLDEN VALLEYDATE : WEDNESDAY, JULY 14EVENT : 20TH ANNUAL GOLF/NETWORKING EVENTLOCATION : DEER RUN GOLF COURSEEVENT SPONSORS : SECURED FINANCE NETWORK - MN CHAPTERDATE : WEDNESDAY, SEPTEMBER 8EVENT : NEXT GENLOCATION : BAD AXE THROWINGDATE : MONDAY, SEPTEMBER 20 - TUESDAY, SEPTEMBER 21EVENT : MID AMERICA REGIONAL CONFERENCE LOCATION : DETROIT, MIDATE : WEDNESDAY, SEPTEMBER 29EVENT : MEMBERS ONLY POWER HOURLOCATION : MINNEAPOLIS CLUBDATE : THURSDAY, NOVEMBER 18EVENT : 19TH ANNUAL TASTING, SILENT AUCTION & CHARITY EVENTLOCATION : BROOKVIEW GOLDEN VALLEYDATE : THURSDAY, DECEMBER 9EVENT : 2021 TURNAROUND OF THE YEAR AWARD PRESENTATIONLOCATION : MINNEAPOLIS CLUBDATE : THURSDAY, DECEMBER 16EVENT : CHARITY/NETWORKING EVENT W/RMA MN CHAPTERLOCATION : THE LOOP WEST END
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lesley Farmer Officer | 1 | $0 | |
Mike Attema Sponsorship Co-Chair | 1 | $0 | |
Patrick Finn Officer | 1 | $0 | |
Mike Wise Sponsorship Co-Chair | 1 | $0 | |
Michael Rosow President | 1 | $0 | |
Cathy Sedacca Communication Chair | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,544 |
| Total Program Service Revenue | $36,416 |
| Membership dues | $7,980 |
| Investment income | $6 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $92,946 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $34,587 |
| Total expenses | $49,587 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $162,404 |
| Other assets | $0 |
| Total assets | $162,404 |
| Total liabilities | $0 |
| Net assets or fund balances | $162,404 |
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