Northeast Minneapolis Tool Library
- Assets
- $147.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 02/2015
- Data as of
- 12/2022
- EIN
- 47-1051712
Organization Overview
Northeast Minneapolis Tool Library is located in Minneapolis, MN. The organization was established in 2015. According to its NTEE Classification (B70) the organization is classified as: Libraries, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Minneapolis Tool Library 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, Northeast Minneapolis Tool Library generated $168.4k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $154.7k during the year ending 12/2022. While expenses have increased by 11.0% per year over the past 5 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy Mccormick President | 0 | $0 | |
Zachary Wefel Boardmember | 0 | $0 | |
Katheryn Schneider Boardmember | 0 | $0 | |
Kate Hersey Executive Director | 20 | $20,000 | |
Leann Groth Boardmember | 0 | $0 | |
Nathan Schneider Boardmember | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,052 |
| Total Program Service Revenue | $55,176 |
| Membership dues | $101,124 |
| Investment income | $69 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $168,421 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $67,723 |
| Professional fees and other payments to independent contractors | $1,004 |
| Occupancy, rent, utilities, and maintenance | $51,393 |
| Printing, publications, postage, and shipping | $2,062 |
| Other expenses | $32,521 |
| Total expenses | $154,703 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $147,834 |
| Other assets | $0 |
| Total assets | $147,834 |
| Total liabilities | $0 |
| Net assets or fund balances | $147,834 |